16 April 2012

What is Added Value?

Ever since the expression "Added Value" appeared in the world of accountancy I have been keen to ensure it is something we do. But what is it and how do you assess it?

I have been reading some comments recently where it is described in terms as looking beyond the compliance matters that an individual or business needs to be compliant. It is also described as "trying to think what is best for the client, rather than what is needed by the authorities".

Of course we live in an era where all government departments seek to raise funds through penalties for non-compliance and a great deal of resource is inevitably required to minimise the imposition of penalties on clients. However the working day would be very uninteresting if all we did was compliance work. Consequently we have always looked to provide advice over and above the compliance work, both taxation and commercially. It is the only attitude to have when providing a professional service. Our theme has always been to help clients to help themselves and it is reassuring to know that we have always provided an added value service, even before the term became trendy in the accountancy profession.

Ian