Chartered Accountant Career Description
Chartered accountants are responsible for preparing or reporting on financial statements for presentation to the public. Chartered accountants act as
consultants on financial matters, taxation, accounting and computer systems, estate planning and management reporting and procedures. They accept appointments such as executors, liquidators, trustees or curators.
What am I going to do in this occupation?
Accounting
The primary responsibility of chartered accountants in practice, is to report on the financial statements of clients, to the clients' shareholders as required by its constitution or through legislation. In order to compile reports, chartered accountants examine the books and records of the client, considering the adequacy of the controls over the safekeeping of the client's assets, as well as the fairness of the financial statements prepared by the client for presentation to its shareholders or the public.
Planning and management
Chartered accountants compile reports on aspects of management, for use by the client in improving the management of the company. They investigate the accounting methods adopted by clients and make recommendations for the improvement thereof.
Auditing
Chartered accountants investigate the financial reports of the company and then report on it.
Computerisation
They also assist in the installation of computerised systems and the development of programmes, the planning of financial models and the giving of advice regarding hard-and software purchases.
Taxation
Chartered accountants are tax specialists and they give advice on determining of and the legal manner of saving tax.
Legal matters
It is important that chartered accountants are well versed in mercantile and company law and are therefore able to handle the legal aspects of contracts, estate planning, and are able to accept appointments such as trustees in insolvent estates, liquidators of insolvent companies or curators where people are unable to administer their own affairs.
Financial management
Chartered accountants who choose to specialise in a career in commerce and industry normally advance to positions in top management, such as financial directors. In this position accountants are responsible for control over the funds and assets of the company or institution, the preparation of financial or management reports to top management and the interpretation thereof in order to increase efficiency and profitability.
Requirements
What kind of personality do I need?
To be successful, qualities such as integrity, intelligence, good judgement, a strong analytical predisposition and determination are needed. It is also necessary to be able to work and convey recommendations both clearly and accurately.
Where can I work?
Chartered accountants work in registered firms or with practising chartered accountants. When qualified they may wish to remain with the firms where articles were served and look forward to eventual partnerships. They work in commerce and industry and in the academic world as lecturers.
Can I work for myself in this occupation?
Chartered accountants may start private practices in which case broad experience is required to take care of the needs of a wide range of clients, or they may enter into partnerships with other chartered accountants. They may also start businesses in the commercial and industrial arena.
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