Sunday, June 9, 2024

Duties and Responsibilities of a Chartered Accountant 

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Nyongesa Sande
Nyongesa Sandehttps://bizmart.africa
Nyongesa Sande is a Kenyan blogger, Pan Africanist,c olumnist Political Activist , blogger, informer & businesman who has interest in politics, governance, corporate fraud, human rights and television personality.

Duties and Responsibilities of a Chartered Accountant. A chartered accountant (CA) is an international accounting designation granted to accounting professionals in many countries around the world, aside from the United States. In the United States, the equivalent to the CA designation is a certified public accountant (CPA).

Chartered Accountants (CAs) vs. CPAs

The main difference between CAs and CPAs is that the CPA is a designation used in the United States, while CA is used in many other countries. Around the world, the CPA abbreviation can refer to different types of accounting professionals. For example, in Canada, a CPA is a chartered professional accountant; in Australia, a CPA is a certified practicing accountant.

Members of Chartered Professional Accountants Canada, Chartered Accountants Australia and New Zealand, and Chartered Accountants Ireland have a reciprocity agreement with the United States. If these CA professionals pass a test, their qualifications can transfer to the United States, where they may work as CPAs.

Chartered Accountant Duties:

  • Assist in auditing financial statements
  • Gather and analyze financial information regarding financial operations
  • Prepare financial statements and reports
  • Assist management in planning and controlling the company’s financial activities
  • Advise management on financial matters
  • Liaise with clients
  • Assist with tax planning

Chartered Accountant Responsibilities:

  • Develop accurate, timely, and meaningful financial statements and reports
  • Use accounting information systems to produce reports and analyze accounting data
  • Perform financial forecasting and budgeting
  • Develop and maintain internal controls
  • Prepare, monitor, and maintain the accounting records
  • Monitor the production of financial statements and review them on a regular basis
  • Make recommendations to improve financial operations and achieve corporate goals
  • Work closely with corporate and divisional management to minimize risk, control costs, and meet financial goals
  • Identify, research, and recommend potential business opportunities
  • Perform tax-related duties
  • Perform internal audits
  • Perform other duties and projects as assigned

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