The Essential Services that are Performed by the Chartered Accountants
Your business will have a host of services that the Chartered Accountants will offer a business which all prove to be of great significance for any kind of business in so far as their financial management and decision making goes and is concerned. Among these services are such as auditing, tax services, management advisory services and those services tailored for the small business setups. Let us take a look at some of these services in their detail.
We are going to get on looking at first of all the auditing services offered by the chartered accountants. The auditing services actually do involve the examination of the financial reports as in the statements and these basically form the most significant part of the roles performed by the Chartered Accountants. It is a requirement by statute laws that every listed company to have their financial statements audited by an outside CA. The audit process involves the tasks of examining and verifying the firm’s financial statements, assessing the steps and means the company has in place for the collection, reporting and recording of financial information, a look at the control and check systems the company has for the protection of the company’s assets against fraud and errors and finally they will give their opinion on the reports given as whether they are a true reflection of the company’s financial position. Generally speaking, the one thing you will enjoy by having the auditing services from the chartered accountants is that it will greatly improve the reliability that a company can have for the monetary intelligences that you may have put in place in your business setup. Where you have your financial declarations so verified and confirmed to be accurate by the independent auditors, you will be able to have your company winning the confidence and trust of the many interest groups who may have an interest of a kind with your business such as the investors, creditors and analysts as they know they can make accurate decisions when they are looking at a deal with your company.
There are some pertinent qualities that the auditor to work with should have and these are such as being technically qualified and competent for the audit jobs and as well must have no interest of any kind, no affiliation at all with the company they seek to audit and qualify or not their financial affairs. It is always the case that for you to qualify as an auditor, you need to have gone through a system of rigorous training and examination and they are as well advised to ensure that they have no relationship with the company so as to ensure that their personal relationships with the companies do not interfere with their professional relationship and practice and as such render them compromised to give a fair report about the company.