Chartered accountants (CAs) are authorized by law to check, verify, audit and certify the authenticity of financial statements of various organisations. Unless certified by a CA, a financial statement (like Balance Sheet and Profit and Loss Account) is not accepted by government authorities like the Department of Company Affairs (DCA) and Income Tax (IT).
The CA profession is an integral part of the financial regulatory system of a country. As a CA, you will go through the various documents of a company to verify the correctness of facts and figures and a fair representation of the financial status of the organisations. This function is called auditing.
Apart from auditing, CAs are also involved in other financial activities. They prepare budgets, help raise capital from various sources, manage costs and supervise accounting functions. They are also involved in the financial administration of banks and financial services organisations. CAs sometimes act as internal auditors and financial controllers. They are also experts in corporate laws and taxation.
The profession of a CA is almost free from the vagaries of the economy-a CA’s services are needed in good times as well as bad times. A professionally competent CA is always in great demand. While career growth may vary depending on the job content and the nature of the organisation, consistently good performance will fetch good returns and steady growth.