• New Wave Accountants

What Is a Chartered Accountant & Why You Should Hire One

Over the years, corporates have been outsourcing various accounting jobs to accountants from Chartered Accountant (CA) firms. Often, they approach CAs to help find a cost-effective solution to maintaining books of accounts.


CAs are accountants who have been awarded a professional degree by passing a rigorous examination which enables them to advise clients on how to stay compliant with tax regulations. But as this degree is so well respected, it barely scratches the surface of what a CA actually does. Get to know more about CAs here.


What to Know About a Chartered Accountant


CAs are professional accountants who can take on specific tasks within the spectrum of accountancy. In the US, a CA is the equivalent of a Certified Public Accountant (CPA).


CAs serve four areas:

  1. Taxation

  2. Financial accounting and reporting

  3. Applied finance

  4. Management accounting

It is up to the CA to choose which area they want to specialise in. On the other hand, they can do a lot of things. In fact, it’s even possible that they oversee a corporation or business’ entire accountancy needs, while others may have a more narrow function like being in charge of only an aspect of a business.


Their Skills


A CA needs to have systematic problem-solving skills that will enable them to fix financial reporting errors. Of course, you can’t be a CA without mathematical skills which are necessary to analyse numbers and do basic calculations.


Aside from these, they also need good communication skills. There are many CAs who can speak several foreign languages to communicate with diverse business leaders.


Another critical skill CAs must possess is organisational skills. This is to ensure all financial records are easily accessible and up-to-date. Along with this, time management skills are also crucial because CAs need to meet deadlines, such as tax filing dates.


Technological skills are also a must for CAs today. Many software and tools can support accounting tasks. CAs can take advantage of these to make their job easier and have less room for errors.


Lastly, CAs should be highly analytical and detail-oriented. They need to understand tax laws and business regulations of the countries where their clients operate when dealing with international businesses.


There are also some instances when a CA needs to learn specialized information about a country’s accounting laws and customs.


The Rising Demand for Chartered Accountants


There are many reasons CAs are in demand today. One of them is because financial and accounting matters require someone with extensive knowledge and expertise. With the help of a CA, you can guarantee that any financial issues will be handled well without having to worry about any legal issues that could potentially put a business in jeopardy.


There is also a growing demand for CAs internationally, specifically in countries like New Zealand and India.


Conclusion


CAs can do wonders for a business and even individuals in need of accounting services. With a CA on your side, you can rest assured that someone reliable is handling your accounts.


New Wave has a team of expertchartered accountants in Gold Coast. We offer end-to-end accounting and bookkeeping services that can help grow your business. Contact us today.

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