Overview
The role of Chartered
Accountants has been undergoing a sea change. What was once a regulatory
function has now evolved to a compendium of roles dealing with finance.
Chartered Accountants (CAs) occupy key posts in business firms,
particularly as advisors for tax management and in management accounting.
The
primary role of Chartered Accountants is to deal with the management
of money and provide financial advice. They maintain records of financial
transactions which every organisation is required to keep by law. They
also carry out company audits.
Only qualified Chartered Accountants are legally allowed to audit
a company's books. Public sector organisations also have their accounts
checked by an appointed firm of accountants.
Chartered Accountants are
members of the Institute of Chartered Accountants of India. They practice
in private firms or in the accounts department of firms and organisations.
The range of work in private practice can vary enormously according to
the size and place of practice.
Accountants summarise transactions in standard formats for financial
records, calculate projected financial ratios, or organise data in special
formats for financial analysis.