Responsibilities of a Certified Public Accountant
A CPA or Certified Public Accountant is a professional accountant who has cleared all the necessary and relevant exams to get an accounting license. A certified public accountant does everything from calculating taxes to financial planning for big and small businesses, organizations, individuals, etc. There are some important responsibilities that a certified public accountant has that you should be aware of.
Responsible for Auditing of Accounts
Reviewing financial statements is very crucial for any company to ensure that they are financially healthy. An internal accountant can be biased during auditing. However, hiring third-party CPA services can help in getting unbiased results. These accountants work in the presence of the client and audit their financial statements. But during the audit process, they have to comply with federal accounting rules and regulations to ensure that the results are accurate and right.
They Evaluate the Business and Offer Consulting
A certified public accountant is an expert in dealing with the healthy financial conditions of a firm. Many companies or firms use third-party accountants who are neutral in their approach to helping them in consultation on their financial rules and regulations. By reviewing their accounts, these accountants can provide proper guidance to the company to improve its financial status.
They Provide Guidance in Financial Planning
One of the responsibilities of a certified public accountant is to help the companies in their financial planning. This means that they have the expertise to help the companies in advising them in the management of logistics, sale, and purchase of businesses, etc.
They Help in Doing your Taxes
One of the most important accountant services is filing taxes. For any individual or company, filing taxes properly is very important to ensure that they are abiding by the rules and regulations of the taxation. However, filing huge taxes can be burdensome and can impact your income or profit. A certified public accountant has the expertise to help you in reducing your tax burden and also prepare your taxes.
They can Help in the Litigation Process
A certified public accountant provides support in legal cases also. He or she will offer you information that is unbiased in any legal issue. He or she will have the role of a consultant or a witness in legal cases of an individual or company. Their results are based on their analysis of the accounts of an individual or company which would not be favoring anyone.