Chartered accountants are responsible for financial reporting, taxation, auditing, forensic accountancy, corporate finance and insolvency. They play a strategic role by providing professional advice, aiming to maximize profitability on behalf of their client or employer. They work in many different settings, including public practice firms, industry, commerce and the public sector.
In public practice firms, chartered accountants provide professional services to fee paying clients, from private individuals to large commercial and public sector organizations. In commerce, industry and the public sector, they may work in fund management and procurement, as well as in financial management and reporting roles.
» Typical work activities
The role of a chartered accountant may cover many aspects of finance work, including:
continuous management of financial systems and budgets;
undertaking financial audits (an independent check of an organization’s financial position); providing financial advice.
In public practice, typical work activities include:
liaising with clients (individuals or businesses), providing financial information and advice; reviewing the company's systems and analyzing risk;
performing tests to check financial information and systems; advising clients on tax planning (within current legislation to enable them to minimize their tax liability) and tax issues associated with activities such as business acquisitions and mergers; maintaining accounting records and preparing accounts and management information for small businesses (accountancy); advising clients on business transactions, such as mergers and acquisitions (corporate finance); advising clients on areas of business improvement, or dealing with insolvency; detecting and preventing fraud (forensic accounting);
managing junior colleagues.
In commerce and industry, and the public sector, typical work activities involve:
liaising with internal and external auditors and...
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