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Related to Accountants: Chartered Accountants


A person who has the requisite skill and experience in establishing and maintaining accurate financial records for an individual or a business. The duties of an accountant may include designing and controlling systems of records, auditing books, and preparing financial statements. An accountant may give tax advice and prepare tax returns.

A public accountant renders accounting or auditing services for a number of employees, each of whom pays the accountant a fee for services rendered. He or she does more than just bookkeeping but does not generally have all the qualifications of a certified public accountant.

A certified public accountant is one who has earned a license in his or her state that attests to a high degree of skill, training, and experience. In addition to passing an accounting examination, a candidate must have the proper business experience, education, and moral character in order to qualify for the license. The letters CPA are commonly used and generally recognized to be the abbreviation for the title Certified Public Accountant.

The practice of accounting is a highly skilled and technical profession that affects public welfare. It is entirely appropriate for the state to regulate the profession by means of a licensing system for accountants. Some states do not permit anyone to practice accounting except certified public accountants, but other states use the title to recognize the more distinguished skills of a CPA while permitting others to practice as public accountants. All states limit the use of the title and the initials to those who are licensed as certified public accountants.

All accountants are held to high standards of skill in issuing professional opinions. They can be sued for Malpractice if performance of their duties falls below standards for the profession.


noun bookkeeper, calculator, certified public accountant, chartered accountant, clerk, reckoner, recorder, registrar, statistician
See also: comptroller

ACCOUNTANT. This word has several significations: 1. One who is versed in accounts; 2. A person or officer appointed to keep the accounts of a public company; 3. He who renders to another or to a court a just and detailed statement of the administration of property which he holds as trustee, executor, administrator or guardian. Vide 16 Vin. Ab. 155.

References in periodicals archive ?
The court had ordered on January 21, 2016 to upgrade the accountants but the concerned ministry of defence and finance division have not issued their up-gradation notification till to date.
While this privilege is generally limited to communications between attorneys and their clients, it may extend to accountants in limited circumstances.
Genevia Gee Fulbright, senior tax adviser for the National Association of Black Accountants, emphasizes the importance of the chemistry between you and your accountant.
Engaging two adversarial accountants can double fees and increase hardship, says Thomas F.
Unlike any time in the past, accountants and lawyers now find themselves advising their corporate clients not only with a view toward the client's potential liabilities and best interests, but also with a view toward their own.
One major service accountants can offer real estate companies is cost segregation studies.
Demand for accountants is also being felt in academia.
The standard advocates a broader view of CPD, one that encompasses a wider range of learning and development opportunities that assist professional accountants to maintain competence.
The rules provide that certain violations of law, negligent conduct, reckless violations of professional standards, or lack of qualifications to perform auditing services may be considered good cause to remove, suspend, of bar an accountant or firm from providing audit services for banking organizations subject to section 36.
Without access to your file, the accountant is restricted to using paper copies of your data.
Accountants also give general financial advice to businesses about how best to deploy their finances and how to invest wisely for the future.
Courts have always held accountants liable to their clients for negligence.