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Accounting Information > CPA Guide > Duties
CPA Duties

A certified public accountant performs many different accounting and auditing functions. A CPA may prepare, analyze, and verify financial documents including financial statements. A CPA may also perform financial planning, investment planning, budget analysis, and information technology consulting, along with other services.

 

Certified public accountants provide services for different types of clients, including corporations, governments, individuals, and nonprofit organizations. There are some CPAs that specialize in taxes. They prepare income tax returns for individuals and organizations, as well as providing tax planning advice. Some CPAs specialize in auditing, which involves examining the financial statements of a client and issuing a report that informs users of the financial statements whether or not the financial statements have been fairly stated in accordance with generally accepted accounting principles, or GAAP. Other CPAs specialize in advising clients on employee benefits, or the design of accounting and information systems. Still other CPAs focus on advising clients on internal accounting controls.

In relation to the responsibilities of a CPA, the CPA must use professional and moral judgment when carrying out their duties. The CPA also has a duty to follow the Code of Professional Conduct. A CPA is required to perform their professional services with the required proficiency, independence, and due care. Since all jurisdictions that issue CPA licenses require some amount and form of continuing professional education, another duty of a CPA is to keep up with their required CPE. This is done not only to meet the requirements, but also to ensure that the CPA has the necessary knowledge and expertise to fulfill his or her duties.

A CPA needs to remain impartial and independent in their mental attitude. When a CPA is in charge of employees or other staff, the CPA must properly supervise those under them, which includes reviewing the work prepared by the other staff members. During an audit, the CPA needs to consider and determine the various possible types of misstatements. This requires the CPA to have a complete understanding of the client’s internal controls.

Another duty of a CPA during an audit is to gather sufficient competent evidential matter. This involves the proper development of specific audit objectives. The goal of an audit is for the auditor to express an opinion on the financial statements, so their duty is to issue a report either expressing an opinion or disclaiming an opinion and stating the reasons why.

A CPA specializing in tax matters has a duty to keep up to date with the latest laws and regulations related to taxes. These regulations change frequently, and the CPA must make sure he or she is aware of any new or repealed tax credits or deductions. This information is crucial when preparing income tax returns or offering tax advice.

If you are looking for a CPA or Accounting Firm to assist you with your general accounting, income tax reporting, bookkeeping, or financial planning needs, then you have come to the right place! Use the CPA Search feature on this website to find a qualified professional in your area to meet your needs.

 
 
 
 
 
 
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