Indeed, work done by an accountant, a bookkeeper and a tax agent is quite close, related to managing accounts rightfully.
But still they differ from each other in various ways. So, to find out in what manner their job differs, continue to read this article.
Firstly, we will discuss about registered company auditor, then about tax agents and lastly about the accountants.
Auditors are professionals who evaluate the accounts of companies and organizations to certify the validity and legality of the financial records.
They are able to also act within an advisory role to recommend possible risk aversion options and cost benefits that may be mad, making reviews, explanations and fiscal assertions.
Audit report should include the following:
- Whether company is sustaining proper books and accounts or not.
- Whether monetary clarifications from company staff are received on time or not.
- Whether fiscal statements are made as per the requirements of companies act or not.
- Whether balance sheet is giving factual and unbiased view or not.
- Whether revenue and loss account is giving factual and nondiscriminatory view or not.
- If there are subdivisions, whether statements from branch auditors under Sec. 228 are correctly received or not.
A tax agent Gold coast is a professional accountant who is highly qualified in tax and law to be enumerated by the Tax Practitioners Board.
Accountants generally have more than one prerequisite or specialty, such as monetary planning.
Accountants are slightly like doctors, they make asset, responsibility, and capital bank account entries by compiling and studying account information.
An accountant summarizes current financial position by collecting information; setting up balance sheet, earnings and loss assertion, and other reviews and last but not least they validate all the financial deals by auditing documents.
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So as you can now see and better understand that what are the major differences among accountant, auditors, and tax agent?