Question
Chartered Professional Accountant(CPA) is one of the most versatile professions amongst the professional accounting field. Anyone who is an adult with an income is required
Chartered Professional Accountant(CPA) is one of the most versatile professions amongst the professional accounting field. Anyone who is an adult with an income is required to file a report for their income and that goes the same to any business. An average accounting firm handles 50 to over 200 clients (CPA advisors, 2023) and more in tax season. Filling tax does not require professionals but is recommended to ensure any claims, deductions, and returns. Most of the clients desire one or two things which are to minimize the tax amount and to have peace of mind. CPAs are held accountable to meet the standard of the law and professions and they are "subject to ongoing regulation and oversight" (CPA Ontario, 2023). CPAs are also capable of representing clients under consent in a situation where additional information is required such as documents, audits, or any other follow-ups. Many of the CFOs have a background of CPA, and having it is the proof that he or she has specialized, and expert knowledge in finance.
CPAs are often employed by accounting firms. Some of the big firms are "KPMG LLP, Deloitte LLP, and PricewaterhouseCoopers LLP, Grant Thornton" (Wallstreetmojo ,2023). The clientele can be a broad area from individuals to other firms that employ hundreds of employees. The firm provides audits, cash flow management, taxation-related services, ledger management, anything that is related to finance. The clients will always be the ones who are at stake since they provide the resources/fees to these firms, and the firms will provide the benefits to the clients in the form of services. Clients will benefit when the firm fills the position with a good CPA, and be willing to pay more fees then the firms will benefit due to increased revenue.
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