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Accounting in Israel: Choosing a firm

Choosing the best suited firm which handles accounting in Israel is a vital decision for the best interest of your business. The accountant's role, among other things, is to provide a prompt response to the customer, including auditing of financial statements, bookkeeping, tax planning, preparation of annual reports and capital statements. An Israeli accounting firm can assist you by providing a wide range of unique Israeli financial and tax solutions to meet your particular business interests. 

The Accountant's Professional Role

Business management is a complex affair, no matter what field and branch of activity. The financial aspect of the business is a matter of great importance and it is strongly recommended to seek the advice of a professional accountant. Correct handling of the financial aspect plays a decisive role in the success of the company. Therefore, choosing the right accountant, one qualified within the official Israeli Institute of Certified Public Accountants is mandatory.
Most of the accounting firms in Israel offer basic services, such as: auditing of financial statements, preparations of annual tax reports, representation towards the tax authorities, tax planning, etc. Israeli accounting firms can also provide bookkeeping services, as well as assistance in preparing a business plan, arbitration services, international tax planning and financial consulting services. A professional accounting firm in Israel should also be familiar with different international tax and accounting aspects, in order to provide the costumers with the most expert and skilled services. Some Israeli accounting firms are members of international networks that have multiple representations across the world.

Accounting Firm in Israel

Today, there are some 12,000 accountants in Israel, of which the majority are members of the Israeli Institute of Certified Public Accountants. About 20% are members of Israel's top 15 accounting firms. In Israel one can find several levels of accounting firms, such as major firms, which are mostly associated with large international accounting networks, second–tier firms offering professional service with a personal touch and small family accounting firms.

Choosing the Appropriate Accounting Firm in Israel

There are important considerations to be taken into account when choosing the most suitable accountant for your business, starting with certain areas of proficiency and followed by matters accounting firm level, extra services or other unique professional needs.
One consideration could be the firm's size. Usually, customers can expect a warm and personal service in a small – medium firm that focuses on the customer’s unique requirements. Medium size accounting firms can offer international business expertise and experience, a valuable commodity to companies and enterprises wishing to conduct business in Israel. Publicly traded companies can find major accounting firms in Israel suitable for their purposes. 
A further consideration could be the firm's seniority. A credible and reliable accounting firm will provide more dependable service, as well as a more trustworthy working relation with the tax authorities.

How to Contact Accounting Firms in Israel

There are several ways and means to locate an accounting firm in Israel. The Institute of Certified Public Accountants in Israel publishes an annual CPA directory, including firms' profiles, CPA biographies and indexes. Additionally, the Institute has an online directory on its website. The Israeli Yellow Pages has lists of registered accountants. In any event, before choosing an accounting firm in Israel, it is recommended that you prepare your demands and clarify your needs in advance.
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