A chartered accountant, or CA, is a professional accountant with extensive training and qualifications who works in public practice. So what is a chartered accountant?
Chartered accountants are professionals who advise on financial matters and conduct audits of companies, charities and other organisations. Chartered accountants work in auditing, tax planning, corporate finance, operations management and other areas of finance. They also provide advice to individuals and businesses on accounting, taxation and financial matters.
Chartered Accountants are highly trained professionals who have a minimum of five years’ experience in the field of accounting before they can sit for the CA final examinations. Their education includes courses in accounting ethics, taxation law and business law.
Chartered accountants are licensed by their professional organization to use the designation CPA (certified public accountant).
Chartered accountants have to pass a series of exams known as the Final Qualification and the Final Assessment, which are jointly run by the ICAEW and ACCA. They must also complete an approved apprenticeship before they can practice as a chartered accountant.
Chartered accountants must meet high standards of competence and integrity at all times when carrying out their professional work. They must formally declare any interests that might affect their judgement or independence when working on a case.
Chartered accountants are recognised as having high levels of technical expertise and they have extensive knowledge of all aspects of business, especially finance and accounting. Their qualifications and experience make them ideal partners for businesses seeking advice on financial matters.
Chartered accountants can provide you with a wide range of services including:
Auditing – checking your company’s accounts and records against accepted standards to ensure that everything is in order;
Taxation – advising on how much tax you should pay and how best to withhold it from your employees’ wages;
Accounting – preparing financial statements, budgets and forecasts;
Financial planning – helping business owners plan their finances to achieve their goals;
IT support – helping businesses implement new technology systems such as enterprise resource planning (ERP) software.
Are you looking for a professional accountant? Aside from knowing the basics about tax returns, you would also need to know what makes a good one. A good accountant can make all the difference in your finances and help you reach your goals. Here are some things to consider when choosing one:
Find someone who is experienced in your industry or business type. For example, if you are an entrepreneur or small business owner, look for an accountant who has experience with other small businesses like yours. This will help them understand your needs better and give them more insight into how they can help you achieve success.
Look for someone who is friendly and easy to talk to. You should feel comfortable asking questions and getting answers from your CPA. If they appear uninterested in what you have to say, look elsewhere.