See full profile: Pinetown Accountant - Sicelo Msomi
Were you always planning to be an accountant and why?
Yes, but only after Matric where I developed the love and understanding of what accountants do.
When meeting with clients do they mostly come to your own premises or do you mostly go their theirs?
I mostly go to my clients
What is your preferred mode of communication with your clients?
Face to Face
Have you ever done an online video call with a client?
What do you love most about accounting?
Accounting is not only about number crunching, for me it is about the value add the accountants provides to the clients.
Would you recommend accounting as a career for school-leavers, and why?
Most definitely, remember as an accountant you can work in any industry, there are no limits.
What qualities should South African business people be looking for in their accountant?
Sadly not everyone who calls themselves an Accountant is an Accredited Accounting Professional, so it is important for business people to assess that part first before engaging with anyone. The accountants can provide a broader service to clients from administration to compliance. they can assist in aligning business strategies to numbers and set clear goals and targets.
What is the biggest challenge facing accountants today?
Accountants are not magicians that make things disappear as it is the perspective of some business people. the accountant should be a "tell as it is" then advise accordingly to mitigate. once you agree to do things that the clients asks you to do although it is unethical to do so, then you putting a profession into disrepute. it is very important know where to draw the line.
What aspects of accounting do you focus on most?
My focus area is Financial accounting where we prepare financials from start to finish. Management accounting where we prepare management packs for discussion and review targets, review costing and pricing. The other one is Tax administration where do Tax services, submission to SARS, PAYE, VAT and Annual tax submission or provisional tax submissions.
Describe your average client:
I deal with unlisted companies with an average turnover below R50m, The professional service companies like Surgeries, Engineering companies, Attorneys, construction. we also have clients in the manufacturing and in retail sector as well in mining.
How far away from your premises is your furthest client?
The distance is really not an issue, we don't look at the distance as measure to decide on whether we take the client on or not. in the world of modern technology you can service anyone anywhere in the world.
From your accounting experience, if you could cite one of the biggest reasons SME's in SA fail, what would it be?
The SA industry is highly regulated, it doesn't differentiate between a start up or a listed company so that is the main problem because SME's focus mainly on running the business and forget about compliance, i.e SARS and CO's Act. then there are penalties and fines imposed on them. The 2nd challenge issue is the ability to raise capital, commercial banks require audited financial statements and we all know that audit is expensive and some SME's don't keep their books in order to be ready for such audits.
What accounting software do you like best?
Microsoft office as well as Pastel/ Sage.
What other software, online services or apps do you use?
Do you think the coming wave of automation in the next few years will steal some accounting jobs and why/why not?
The automation will assist in administration but I don't see it replacing the advisory service, tax planning and business strategies. I think we should all welcome the automation of processes as it improves efficiency and save costs.
What is your opinion on Bitcoin?
I would like to reserve my opinion on Bitcoin, lol.
What do you enjoy doing in your spare time?
I am marathon runner so when I have time I do my runs, watch soccer and enjoy some time out with friends.
What is the most interesting thing on your bucket list?
There is a lot of work that I need to put in order to achieve what's on my bucket list, that the most interesting thing.
What has your experience been on FindanAccountant?
it is a good platform for Professionals to meet their potential clients and I hope every accountant uses this platform to market themselves.
See how our other local South African accountants have answered the above questions.