A Chartered accountant
is one who is specialized in accounting, auditing and taxation. He also serves
as a management and corporate caretaker. In recent times, accountancy
has become popular as a profession. The service of a CA is required in
money matters even in a small business. Moreover according to the Company
Act only CA's in professional practice are allowed to be appointed as
auditors of companies in India. A chartered accountant is a person who is
accepted as a member of the Institute of Chartered Accountants of India (ICAI)
after having passed the Final examination of the Chartered accountancy
course conducted by the institute.
APPLICATION:
Chartered Accountants were the first accountant to form a professional body, initially established
in Britain in 1854. The Edinburgh Society of Accountants (formed 1854), the
Glasgow Institute of Accountants and Actuaries (1854) and the Aberdeen Society
of Accountants (1867) were each granted a royal charter almost from their
inception. The title is an internationally recognized professional designation.
Chartered Accountants work in all fields of
business and finance. Some are engaged in public practice work, others work in
the private sector and some are employed by government bodies.
Chartered Accountants Institutes require members
to undertake a minimum level of continuing professional development to stay
ahead of their peers. They facilitate special interest groups - lead academic
and professional thinking in accountancy. They provide support to members by
offering advisory services, technical help lines and technical libraries. They
offer opportunities for professional networking and career and business
development
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