A chartered accountant is an accounting professional who is responsible for auditing the financial statements of a business organization and the practices of business. He/she is also responsible for providing financial advisory services.
- Chartered accountants are supposed to prepare the financial documents of an organization through careful monitoring and tracking of the business practices.
- They are also considered as professionals who are responsible for financial forecasting of an organization and determine how the financial transactions will have an effect on the entire structure of a business entity.
- Chartered accountants are also responsible for matters related to taxes and financial reports.
- The chartered accountants are responsible for tracking the financial earnings and losses of an organization.
- They are supposed to create the current financial status of a company.
- Chartered accountants work in close association with the auditor in order to predict the exact appending pattern of an organization.
The following responsibilities are borne by a chartered accountant:
- Evaluating the policies of an organization and assisting the companies in formulating different policies.
- A chartered accountant acts as the point of contact between the management and employees.
- Prepares financial audit of an organization.
- Exploring all the accounting reports and helps in financial analysis.
- Prepares the budget programs of a company.
- Review of profit and loss encountered by the company.
- Analyses the financial risks of an organization and suggests investment plans.
- Preparing data analysis for different kind of data for major clients of the company.
- Maintain the veracity of records maintaining data files.
- Conducts regular meetings and interactions with the top tier of the management and offers financial advice.
- Proper handling of business policies.
- Also handles trade policies.
- Veracity of actions is one of the major skills that should be possessed by chartered accountants.
- Knowledge of accounting and business practices is one of the principle features of chartered accountants.
- Listening skills are also important for budding for chartered accountants.
- The chartered accountants should have the acumen to learn new things during every single step of the process of accounting and auditing.
A chartered accountant performs various functions in an organization, and the process of auditing requires patience and time. During the process of auditing, a chartered accountant may have to perform their duties for long hours until the process is over.
The accounting and financial policies along with the taxes are different for each country. Therefore, the qualifications of chartered accountant will differ for each country.
- A qualified chartered accountant should possess a degree of CA after obtaining a degree course in commerce from the university.
- The CA degree should be awarded by The Institute of Chartered Accountants of India.
- Should have worked as a Chartered Accountant in an organization.
Tip for jobs
- A chartered accountant should have acute presence of mind.
- Should have the ability to think beyond the limits.
- Should have a flair for handling figures with ease.