The profession of Chartered Accountant (CA) is one of the most important professions related to business and commercial accounting and management. The work of accountants is usually related to money matters. These people provide professional financial advice, and help make financial management decisions. Accountants have three major disciplines: private affairs, industry and commerce, and government.
The work of chartered accountants is usually related to the accounts of private companies. They provide accounting services to their parents. Most chartered accountants work with an accountancy firm to compile and audit accounts for private sector businesses, clubs, organizations, nationalized industries and individuals. In addition, most of them work in other industries mentioned earlier in this article. Auditing means analyzing the accounts of a principal (company, institution or individual) and verifying the accuracy of those accounts to give a more accurate picture of the financial affairs of the principal.This work sometimes involves inspecting the financial control system and conducting interviews with staff and management members. The consulting responsibilities of chartered accountants are increasing in view of the complexities that are being created due to the increasing development in the business and management sector.
Institutions and companies are increasingly seeking the expert opinion of chartered accountants on their management and finances. In this situation, chartered accountants examine the cost and business practices, in order to obtain financial information, in the light of which they can give advice to the management which will increase the efficiency and productivity of the organization and increase the rate of profit. In addition to the above, the duties of Chartered Accountants include giving advice on income tax matters and investment prospects. In addition, Chartered Accountants perform the duties of Administrator, Trustee or Liquidator on behalf of their clients.The profession of Chartered Accountants in Pakistan dates back to 1961 when the government established the Institute of Chartered Accountants through an ordinance.
Previously, registered accountants performed these duties instead of chartered accountants. For young students who intend to pursue a career as a CA, it is of great interest to pursue a career that requires neither extraordinary intelligence nor unlimited resources. Anyone who is determined, clear-minded, self-organized, moderate and constantly struggling can easily succeed in this profession.A common misconception about this profession is that it is very difficult to pass the exam and very few candidates are successful, this is not true. Failure to do so may be due to lack of the above mentioned qualities or low quality of college education and poor knowledge of English.
