What is the role of a chartered accountant? [Job File]

Would you like to become or use the services of a chartered accountant?

🤔 But what is their role? Have its missions changed with the digital transformation?

Finally, is it compulsory to use a chartered accountant in business?

Find out more in our job profile, along with a toolkit for an online chartered accountant in tune with the times.

Accountant's job description :

See all software Accounting & Finance

What is the role of a chartered accountant?

Chartered accountant: definition

A chartered accountant is an accountancy professional whose role extends beyond managing a company's accounts.

Their added value lies in their role as advisers on legal, tax, employment and accounting matters, both in preventing potential difficulties and in optimising financial health.

He assists all types of business, from micro-businesses to large corporations, throughout their life cycle, including

• setting up a business
• taking over or selling a business,
• business development, etc.

Tasks when setting up a business

• Drawing up a projected balance sheet,
• Advice on :
  • choice of legal status
  • choice of social status
  • tax optimisation,
  • possible financing.

Tasks throughout the life of the company

The chartered accountant has 3 main tasks and a number of additional tasks:

• Presentation of annual accounts:
  • bookkeeping (full or partial),
  • auditing,
  • drawing up the annual accounts,
  • preparation of tax and social security returns,
  • consolidation of the annual accounts of groups of companies;
    
• Limited review of the annual financial statements:
  This involves certifying that the annual financial statements are true and fair, with regard to the company's financial position and results at the end of the financial year;
  
• Contractual audit:
  More advanced than the previous assignment, this involves certifying the regularity and fairness of the annual accounts, following controls (sampling, material verifications and external cross-checks);
  
• In addition, the chartered accountant may be asked to :
  • carry out legal formalities (holding annual general meetings, transfer of registered office, capital increases) ,
  • carry out social and tax services,
  • carry out statutory tasks (required by law), for works councils for example, etc.

Tasks during the transfer or takeover of a company

An acquisition audit carried out by a chartered accountant is advisable in order to :

• be sure or question the purchase value of the entity ;
• negotiate the transaction
• limit the buyer's risks.

Tasks when financial difficulties arise

Whether the company is under a safeguard, receivership or liquidation plan, the auditor's role is to :

• determining whether payments have stopped,
• drawing up a continuation plan
• monitoring operations and cash flow during the observation period,
• supplying documents and data to the insolvency administrator,
• implementing the plan to sell the company's assets and activities, etc.

Conseil supérieur de l'Ordre des Experts Comptables

What are the career prospects?

Although they may start out as salaried employees, the vast majority of chartered accountants become self-employed by setting up or joining a chartered accountancy firm, and then building up a client base.

Within a large company, they may become :

• chief accountant
• financial director.

In a small firm, they are multi-skilled, but in a larger firm, they specialise and work in collaboration with legal and tax experts.

What does a chartered accountant earn?

They are paid in two ways, by invoicing their clients:

• according to an hourly rate and the time spent on the case ;
• on a fixed annual, quarterly or monthly basis.

Their remuneration depends on :

• the quantity and quality of the work entrusted to them ;
• experience ;
• geographical location. A chartered accountant in Paris costs more than one in the provinces.

According to the CIDJ, the gross monthly salary of a chartered accountant is around :

• 3,000 + bonuses for a salaried beginner,
• 5,000 for a beginner in a firm,
• up to €9,000 for a senior accountant.

☝️ If you are in charge of a company, try to detail the various tasks you wish to outsource to a chartered accountant, and how often they recur, then ask for several quotes to compare fees.

To formalise everything, the chartered accountant will draw up a contract, known as an engagement letter.

How do I become a chartered accountant?

Chartered accountants: training

Chartered accountants can begin their careers after :

• 5 years' higher education, including :
  • a Higher Diploma in Accounting and Management (DSCG),
    obtained in a specialised school, after a Bac+3 in accounting and management (DCG) and 2 years of work experience,
  • or a Master's degree in Accounting, Control and Auditing (CCA),
    obtained at university, with the option of doing the 2-year sandwich course;
• + a 3-year traineeship in public accounting leading to a DEC (Diplôme d'Expertise Comptable).

☝️ The DEC and membership of the Ordre des Experts-Comptables are compulsory if you wish to work as a self-employed accountant.

▶️ Watch this wink-wink video "Who said the profession of chartered accountant wasn't fun and full of promise?

What are the qualities of a chartered accountant?

Unsurprisingly, a chartered accountant is :

• organised
• rigorous
• and enjoys working with figures.

Their expertise in financial management is complemented by a mastery of

• business law
• tax law
• employment law.

Ideally, they have a solid knowledge of the sectors in which their clients operate, so that they can master the jargon and specificities and adapt easily.

They also have good interpersonal skills, so that they can guide their clients, explain accounting language to them in layman's terms and inspire confidence.

☝️ The dematerialisation of accounting has enabled them to develop their role as advisers.

Choosing the right accountancy software saves him a considerable amount of time, enabling him to meet the needs of his practice, increase productivity and provide the best possible support to his clients.

See all software Accounting & Finance

Is a chartered accountant compulsory for a company?

No, a chartered accountant is not compulsory for a company, even a small one.

Unless the company wants to outsource its accounting.

But in addition to their expertise in ensuring that your accounts are in order, they are also highly recommended for setting up or taking over a business.

He is a key partner in your development and financial stability.