Handling big firms and organizations is a very challenging task especially the
financial aspects of the company. Every organization requires financial advices
for the growth and expansion of the company. These are valuable advices that
contribute in the betterment of the firm. Chartered Accountants are normally
hired to give their valuable advices.
Confidentiality of advices is essential
It is very vital that the advisory services which an organization is getting must
have high confidentiality. This is because the information shared is very
precious and the information should not be leaked to the third party.
Organizations must make sure that the chartered accountants who they hire
are trustworthy because leaking of information means that company’s stakes
are at risk. Another company may exploit that information to its own benefit
leading to the downfall of the company whose private information has been
compromised.
Financial Advisory is subject to market risks…
Advisory Services are subject to the current market trends and the stock
market. The growth or downfall of stocks is unpredictable. It is very difficult to
guess whether there will be growth or downfall of a certain stock. These are
subject to market risk. That is exactly why the best brains in the business are
hired to give advisory services.
According to the past history and the probability of success of the product in
the market, they give their valuable advice to the customer. They need to
ensure that the greater part of the information is given to the person giving
the guidance to get valuable advice. They have to see the financial history and
where the organization is going.
Benefits of Advisory Services:
Helps in the growth of a company
There are numerous benefits of hiring a Chartered Accountant for advisory
services. Not only they help in providing a best solution to a certain situation but they also help in the growth of the company. They help the company to expand itself by giving an edge over other companies.
Advisory services are life saviours of a company!!
Sometimes, in critical times, during a downfall of a company, these advisory
services can act as saviours. These services help these drowning organization to take positive steps and survive. The world follows the policy “Survival of the fittest”. So only fittest of the fit companies excel in today’s times. That is why these services play a vital role in the development of a company.
Helps in investing money
Investment is another prospect that a company is very cautious about. We
know that money is an integral part of company. Their aim is to generate huge
amount of revenues. To generate these revenues, huge amount of investments are required like purchasing an office for a company etc. So, these are the areas, where good advisory services are needed. Expenses are regularly monitored by chartered accountants who help in keeping an eye on the financial situation of the company.
Tax, Loan issues
There are many consultancy firms that provide advisory services on whether to take a loan or not? From which bank, loan should be taken so that the interest rate is less when compared to others which will ultimately benefit the
company. Tax related issues are important. Even for these issues, advisory
services are needed.
These services come at a cost…
As explained above, you can see how valuable these advices are to a company.
Obviously, these services are not offered for free of cost. A big amount of fees
is charged by chartered accountants for providing these services. Despite
having high fees, these services are advisable to have if you are running a
company. Not having these services may result in the downfall of the
organisation.
BIATconsultant.com is leading financial advisory consultant with presence in India , prividing expert guidance since 2004 .