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What are The Roles and Responsibilities of a Chartered Accountant

Looking for best CA Firm in Amritsar then you should seek the consultation of IS Gulati & Co. He is a renowned chartered accountant firms in Amritsar. He has been practicing as a prominent charted accountant in Punjab for the last 35 years. Hence, if you are looking for an experienced CA in Punjab then you should consult him.

He has been running a successful chartered accountant firm in Punjab. You can seek his consultation for all tax & related financial matters.

What are the roles & responsibilities of a Charted Accountant?

Let's first understand the role & responsibilities of a charted accountant and what services you can expect from IS Gulati & Co.

The CA profession is contributing a lot to the our country economy. But mostly it’s a supporting role, not a big leading role. The important role in economic development is played by government and entrepreneurs.

However, if you are wondering that charted accountants are responsible for bringing any resources to create significant change in the economic development then you should be conscious that CA's does not directly influence the economic development of a country. However, they play significant role in the economy  indirectly through the following activities

Supporting in tax compliance. This involves liaison with the government authorities, and they also represent their clients in courts, promote effective business operations by taking over the complex tax compliance part.

For instance, it is immensely hard to make changes in the GST without the assistance of a CA professional.

Financing. Another important role that CA perform in the economy of a country is that they help in Creating right opportunities by arranging for business finance.  They play an important role in making the calculation and convincing the banks about the trustworthiness of entrepreneurs and business owners. Charted accountants don't work only on small scales but they work on a large scale too, infact several CA's are working with the investments bank to finalize some key business deals between the organizations.

Auditing -  Auditing is one of the most important jobs that Charted accountants perform occasionally. However, It involves the repetitive but still necessary function of control procedures.  Auditing is necessary as it helo to prevent all types of leakage from the economy and also help in preventing the creation of illegal money, properties, and frauds.

Accounting -  It is a procedure that brings together expert rules of accounting in evolving business environment and to accommodate new developments in business. This ensures comparability, reliability and investor faith, which is good for our economy.

General business support - a lot of other things that Chartered Accountants (CA) do can be classified as general support and consulting services. They can do this because of their knowledge about laws, taxes, laws, investments, valuations, compliance, financial markets,  banking, regulations etc. It’s too many things, but mostly for supporting roles only.

Role as an auditor: We are required to conduct Audits as per statutes and various laws to check the compliance part from the end of the entity. We are required to give an opinion on this part as well. This ensures that the entity is working in a proper way or not.

Role as a tax advisor: Generally taxes provide big dent to the financial statements of most of the entities in our Country. This causes outflow of cash. This can be reduced by an expert. We as CA work as a tax consultant Service so as to reduce the tax liability with proper means.

Role as a project financing consultant: We helps businesses to grow & expand which ultimately provides taxes to the government.

Role as a forensic auditor: This is done so as to look out for frauds in an entity. This helps to improve the profits and ultimately gives taxes to the government.

Role as subsidy advisor: We assist entities to gain eligible subsidies so that they can expand their business.

Role as a deal maker: We assist two entities to make deals so that both of them can earn. This ultimately helps for prosperity of economy.

Roles as a financial doctor: Generally CAs are known as the financial experts as we understand finance much better than any other person. This helps people to save money which ultimately increases their profits through taxes is increased. This helps government as well.

These are all important roles of a CA. However, it is extremely important to take consultation from an expert Chartered accountant for all tax & financial related problems. However, it is extremely hard to find a legit CA firm in Punjab although there are several CA's who promise to provide bthe est tax-related advises but if you are looking for a senior CA in Amritsar then you should consult IS Gulati & Co.

He is being considered best CA in Amritsar. You can contact him to get best advice related to all your tax & financial related queries. Please visit the site for consultation and advisory on other modern techniques of E-Commerce and T-Commerce related aspects.

10-24-2018 06:13:24