Question

Apart from an accountant in an accounting firm or an auditor, what other professional roles are available to you and what are their responsibilities in an organisation? Which of these roles are of interest to you and why?

Answer 1

In addition to financial accountant and auditor, the professional can have the following roles:

1. Management Consultant: Professional accountant should advise the organisation on how the management becomes profitable, I liquid, remains solvent and grows. He should understand the flow of the business activities in the organisation and advise them on reorganising and establishment of internal controls.
2. Tax advisors: Professional accountant can serve as taxation advisors in an organisation. They need to update themselves with the latest tax developments and use this knowledge to advise the impact of the organisation in the way they understand. His role is of high importance when there are tax scrutiny or suits. Also his advise is required while budgeting for the future years.
3. Cost accountant: The accountant's role will stretch to budgeting and forecasting for the organisation. Periodically analysing the actual performances with that of the budgeted to compute the variances to analyse further.
4. Trustee: Accountants as appointed trustee to overlook the management handling the assets and funds to ensure they protect the interest of the beneficiaries. They may be in charitable organisations, NGOs or even in case of Mutual Funds.
5. Executor: Accountants are put in the place to understand the legal and other compliances required under fair disposal of assets and liabilities under a will of a deceased client. Accountant who are observed as guardian of integrity use skill and competencies to ensure the fairness and completeness in disposal of retained assets.
6. Company secretary: Here the accountant will be responsible to ensure the organisation is complaint with all the set of rules, regulations and laws guiding them. Also implementing strong governance and overlooking ethical and legal requirements for CEO, directors are met.
7. Other roles:
   1. Receiver
   2. Comptroller

The role that interests me in the above is of the Executor. Accountants are looked by society as element of trust and integrity. Distribution of a person's earned assets after he has left would be biggest responsibility in terms of moral grounds. Accountant is a guarantee who uses his skill and competence and ensures all this assets go in the right proportion to the right hands.