CAREER GUIDE MANUAL - Inseta

264.5 CHARTERED ACCOUNTANT 65.4.1 Nature of workA chartered accountant (CA) is a highly qualified professional who appliesaccounting, mathematical and analytical skills to solve business, taxation,financial and management problems. Chartered accountants who work incommerce and industry are involved in all critical business areas such asaccounting, strategic business planning, marketing, information technologyand financial management. Typically, chartered accountants in the insuranceindustry are required to do the following: Prepare the financial statements of a company. Record, monitor and interpret financial results. Develop and maintain reporting, cost accounting and computersystems. Improve internal and operational controls. Oversee day-to-day financial management such as budgeting, cashflow forecasting, business planning and longer term corporatefinance planning. Promote optimal financial effectiveness and efficiency within theorganisation. Act as a financial executive or director and as a key player in the topmanagement team. Manage and minimise the company's tax liabilities. Manage the company's asset base, including asset sales andacquisitions.Legislation requires all companies to prepare annual audited financialstatements. Many chartered accountants in public practice specialise asauditors who review businesses' financial status and operations. As auditors,they provide assurance as to whether or not the annual financial statementsfairly represent the results and financial position of a company. Charteredaccountants in public practice may be self-employed or work in a firm thatrenders specialised financial services including auditing services, taxplanning and advice, management consultancy to improve clients'profitability and forensic accounting to investigate and uncover fraudulentaccounting practices. Prior to company mergers and acquisitions, charteredaccountants conduct due diligence investigations to determine the value and6 The information relating to the career of a chartered accountant was sourced from www.saica.co.za; www.paab.co.za;www.careers.co.za; www.kiwicareers.gov.nz.