An accountant plays a pivotal role in an organization. It is not just during the tax season, accountants can be useful at any time of the year. A chartered accountant can help you solve various financial issues.
Becoming a Chartered Accountant is not an easy task. They need to pass three qualifying examinations and should have 30 months of practical experience before they get their designation of a Chartered Accountant. Apart from high degree of knowledge, they must abide by a professional code of conduct. They must act ethically, maintain client confidentiality, and avoid situations involving a conflict of interest. They can help you and your business.
There are non-designated accountants who do not belong to a professional body. Business owners should not hire any such non-designated accountants. There are Chartered Accountants who provide tax planning and tax preparation services to their clients. However, not every accountant is a tax expert. Tax experts have in-depth knowledge and expertise in the area of taxation. In Canada, The Canadian Institute of Chartered Accountants (CICA) has the most comprehensive tax training program, know as the Canadian In Depth Tax Course. Chartered accountants have the practical experience to be defined as tax experts.
Organizations should find out the type and years of tax experience Chartered Accountants have and check whether he/she has completed the CICA In-Depth Tax Course. You have to hire a CA who is a tax expert. In an organization, the finance department has to handle complicated issues that require expertise, experience and utmost precision. Handling such financial matters is not an easy task. A chartered accountant can help you figure out how to proceed. An experienced chartered accountant can handle your financial matters competently.
Chartered accountants provide a fixed fee to their clients or bill on hourly basis. Moreover, the value that you and your business derive from their services is far in excess of the fees that you pay them.