Accountant In Charge
DEFINITION of Accountant In Charge
An accountant in charge is the person responsible for administering a audit. An audit is an objective examination and evaluation of the financial statements of an organization to ensure that the records are a fair and accurate representation of the transactions they claim to address. The accountant in charge generally has last responsibility for the exactness of the consequences of an audit.
BREAKING DOWN Accountant In Charge
During an audit, the accountant in charge keeps up with workflow by allotting tasks to accounting and clerical staff, screens an audit's progress, suggests controls and cycle changes, authorizes standards and adheres to legal rules. The accountant in charge is regularly a Certified Public Accountant (CPA). Certified Public Accountant is an assignment given by the American Institute of Certified Public Accountants to the people who finish an exam and meet work experience requirements. In accounting consultancy firms, the accountant in charge is the point person that keeps up with the relationship with the client. They are frequently entrusted with getting new business and maintaining the company's reputation by keeping up with severe confidentiality with existing clients.