- Provide assistance in creating an entire business system that is equipped with internal control measures.
The accountant will have to perform tests and analyses that will identify critical points in the entire business system being developed for the client. That way, weaknesses in the internal control system can be identified at the onset, for which a built-in verification feature will be added to confirm the validity of the transaction.
As an example of a verification method, a computerized check-maker is configured with limits for issuances to a certain user, and this will require a control officer’s password for error corrections.
The responsibilities described are common examples of an accounting consultant's job. Descriptions are based on today’s present work environment and current business trends. In all of these functions, keep in mind that knowledge of up-to-date federal, statutory, and local requisites and regulations, including those imposed as taxes or on publicly traded companies (GAAP Rules and Sarbanes and Oxley Act), add value to the quality of expertise that a CPA is capable of rendering.
In view of this, the following section furnishes information about the common skills and qualifications required for this type of accounting profession.