Accountant and Auditor Responsibilities
Accountants and auditors are responsible for the efficient and effective functioning of the financial companies. They study, examine, check, prepare and verify financial papers in order to provide clients' data. They ensure that the common financial records are correctly documented and reported. They assure that the taxes are cashed decently and at the right time. They supervise the data systems that provide information to managers in trade, commercial enterprise and system organizations. Nowadays, their work limit has been widened. They are now also inclusive of cost and fiscal planning, fund analysis, limited lawful services and data technology consulting.
There are 4 major branches of accounting. These are public, management, government auditing and internal auditing. The accountant and auditor responsibilities include reviewing and checking the final operations, projects and work to ensure that the firms run smoothly. Each branch of accounting has an accountant for it. The accountants who deal with public accounts are called public accountants. Similarly, the others are called management, government auditing and internal auditing accountants. The key responsibilities of these accountants and auditors are as under:
- Performing a wide range of audited accounting, explanations, taxing and other refering activities for their clients who can be government, non-profit, business firms and individuals
- Advising the companies on tax issues including the pros and cons of business decision taxes and setting up individual tax returns
- Accounting and auditing the fiscal contents of the customers and ensuring the capitalists and the government that the statements have been carefully reported and documented
- Adding their skills of finance and accounting with scrutiny methods to find out whether a particular activity is legal or not
- Running their own work or business in common accounting companies, where they are qualified public accountants or CPAs
- Assisting the managers to focus their judgment on real data and not self evaluation
- Planning strategies and the growth of new products
- Working closely with the attornies and the people who follow the law during daily scrutinies
- Attending trials as witnesses
- Documenting and studying the information related to finance for the firms they work
- Funding, evaluating performances and negociating the expenditures and qualities
- Advising the clients on health care employee advantages and compensation, information processing systems, accounting design and the selection of controls to protect the assets
- Studying and rendering the financial data for business firm executives to make safe decisions related to finance
- Gearing up fiscal reports for some other groups
- Ensuring that the revenues are accepted and expenditures are made according to the laws and regulations
- Checking and keeping the fiscal records of government authorities and accounting the government regulated individuals
- Working in other regions of accounting departments such as the financial analytic region
- Operating as inner revenue work representatives
- Checking for misdirection and malfunctions in the inside records of the firms
- Ensuring that the computer systems are durable and the data is presented as a whole
- Working in the forensic accounting department, construting and investigating white collar crimes such as safety frauds, declaration matters and bankruptcies, other criminal fiscal transactions and complex issues like money laundering by criminals who are organized
- Revaluating company work and assessing its efficiency and effectivity in accordance with the government regulations and laws
- Summing up proceedings in regular formats
- Putting accounting and dominant systems and networks into effect
- Growing application plans and studying budgets
- Acting as individual financial consultants
Qualifications and Skills
The candidate must have a bachelor's degree in accounting or a related field. Certification with a specified branch of accounting would be an asset. Having a master's degree in commerce with majors in accounts would be apt.
They usually work 8 hours a day and 40 hours per week. They may have to work overtime during certain periods of the year like during the levy season or at the end of the fund year.
The annual salary of the accountants and auditors is USD 63,690. But this varies from one place to another and also depends on the standard of the firm.
Thus, the accountant and auditor responsibilities include summing up the present financial condition of the company, presenting results and fixing particular financial reports, keeping control on the accounts and verifying that the taxes are paid regularly on time.