Chartered Accountants (CA)
It is a form of accountancy that offers significant benefits to its holders, but it’s less in the spotlight compared to other accounting professionals.
Who is a Chartered Accountant?
A chartered accountant is a typical designation that refers to all professionals qualified to undertake certain activities in a specific spectrum of accountancy. The tasks include; auditing financial statements, financial advising, filing corporate tax returns and more. Their qualification is the same as the CPA qualification in the USA. The CA has a body that governs the professionals in this area of accountancy that was started way back in 1854 in Britain. Other organisations and associations that act as accrediting institutions have emerged since then.
Duties for CAs
These accountants serve in four areas; taxation, financial reporting, accounting & applied finance, and management accounting. CA’s can work under the area of specialisation they choose but may wear different hats. They can oversee all the corporations’ accountancy needs or dwell in a specific area such as taxes or auditing. Some of the CA professionals prefer to work on their own as freelancers or consultants, which earns them the flexibility of working to match their lifestyles.
Roadmap to becoming a CA
The roadmap to becoming a CA depends on which country you want to work. Different states have different requirements and certifications, and regardless of specifics, CAs are required to meet some stringent practical and academic qualifications compared to other accounting qualifications. In most countries, a CA professional is necessary to have a bachelors’ degree in business and accounting subjects. A CA professional is required to undergo specific programs like internship before earning the rank of a CA and must be highly dedicated. Once you achieve the level of a CA, you become respected and earn more than other accounting professionals.
Must-have skills for a CA professional
If you are thinking of becoming a CA professional, there are unique skills that you must possess upfront. Some of these skills include; systematic problem-solving skills that will assist the professional in their line of duty to fix reporting errors, mathematical skills to analyse and perform necessary calculations and communication skills which will support the professional to fit in a team setup. Other capabilities include multilingual abilities, cultural competency, organisational skills and management skills. Also, technological skills are critical in today’s accounting information systems.
Where CAs are employed
Global companies hire chartered accountants, and they can work in every industry or sector from medicine to energy. Chartered accountants provide skills that help an organisation to diversify on their profits to achieve financial goals. Chartered accountants are not only hired by accounting firms but also get employed in hospitals, hotels, software startups, and more. You will find chartered accountants analysing the company’s financial data, and anywhere money requires monitoring and evaluation.
Why CAs are in demand
There are several reasons why corporations, businesses and individuals want to hire chartered accountants. Financial and accounting matters require knowledgeable professionals to handle; that is why corporations need qualified professionals to handle accounting matters. Business owners feel assured when qualified chartered accountants handle their economic issues. The firms’ decision-makers will rest assured that they will not face any legal ramifications because they have a CA professional onboard. Most companies are competing to hire the most qualified CA professionals to handle their accounting requirements.
CLM are chartered accountants who can help and support your company.