Know the role and responsibility of CA

Chartered accountant (CA) is an accounting designation granted to accounting professionals. Chartered Accountancy not only deals with debit-credit of the accounts if they play a very significant role in nation-building. CAs are foundation base of the economy and use the financial expertise, the nation gets right way in diverse financial and economy related measures to improve the decaying Indian economy and improve the financial system along with industrial growth.

Chartered Accountant contributes in fields of Tax planning, capital budgeting, budget forecasting, financing or additional activity, preparation of books of accounts, and in every field as well. In the existing scenario, after GST implementation, the role of Chartered Accountants has become very significant. From the draft rules to provisions to implementation of GST, the role and expertise of CAs were used to the fullest. Apart from nation growth, a brilliant CA can grow your business with accurate accounting and strategy. If you leave in Uttarakhand, and for your business you are searching for a good CA in Dehradun so let me tell you, we are associated with famous CA for your business. You can simply visit our website and know and choose the best CA for your business strategy.

Some of the realistic roles which are played by the Chartered Accountant is here:

• Accountability
• Social Accounting
• Taxation
• Capital Formation
• Economic Planning

Chartered Accountant is helpful in building a nation and here are few roles they play in the economy and finance-related concerns in a nation:

Play Role of Auditors

A Chartered Accountant conducts audits of enterprises in regard to information and tax compliance to the Government; as a result they play the role in contributing to tax revenues and national growth.

A Chartered Accountant makes certain that the necessary taxes are conferred before money is send off out of the country; therefore they make sure of accurate tax payments before the essential time.

All the government audits such as CAG audits, Service Tax audit, Income Tax audit and forensic audit are carrying out by Chartered Accountants.

Tax Revenue Contributors of Country

A Chartered Accountant conducts audits of entity and checks tax compliance and provide reports to the government regarding this. So, representation in tax revenues of the government and nation growth is done by CAs.

A CA makes sure correct tax payments to be done at the right time. In the corporate audits, they work as the primary layer of vigil mechanism. The financial statements of the corporate are required to be audited by Chartered Accountants previous to placing in front of the common public. CAs makes certain that appropriate laws are executed previous to financial services are out.

This makes the financial statement true and fair making the operation of the company easy going as they cannot window dress the financials. This helps creditors, shareholders, and financiers take a relevant decision regarding the company.

Consultants to SMEs

Chartered Accountants are SME advisor. They counsel in a lawful matter and day-to-day operations. Thus, they assist the GDP and nation-building. At present, Chartered Accountants play a main role and are the torch bearers of the nation.

Business Consultants

The ICAI manage the drafting of rules and system concerning Auditing and Accountancy. The ICAI advises Accounting Standards in India and the financial reporting is done under this structure. Therefore, they make sure about equability in reporting and assist the people to know about the country that how money is running.

The ICAI continuously advises the government in regard to various matters of taxation, therefore making sure to establish a robust taxation structure in the country. The ICAI as well provide expert advice on different matters concerning corporate dealings to the Govt.

The phrase “Partner in nation-building” for Chartered Accountants is used by President Abdul Kalam and it seems very true as they are a big contributor in nation-building.