Help needed

587 views 9 replies

I have no knowledge of accounting or tax, but I have recently incorporated a Pvt. Ltd. company, and was wondering what are the functions of :

1. The accountant of the company

2. The statutory auditor

3. Can the statutory auditor also be the accountant of the company?

Any help would be greatly appreciated. 

Thank You

Replies (9)
Mam, first of all congratulations for ur new company. An auditor can not be the accountant of ur company.The accountant's responsibility is to maintain the accounts but the auditor is the person who checks the financial of the company after preparing the final accounts at the year end.

The Audiotr could be the accountant f the company but now the company act under provisions of section 141 of CA 2013 prohibits the Statutory Auditor of the company to provide the services other than as Statutory Audit of the company

Thank you so much for your replies.

Could you also tell me what all an accountant does for a company? The everyday work of an accountant.

Making entry of all the transactions done during a day and keep record of the same. In accounting terms, its called as Book Keeping

Thank you so much Mohit and Priya. Greatly appreciate your help. :)

An accountant should have basic knowledge of local laws vat etc. Tds provisions epf etc. To comply the requirements on time
Accountants job not only restricted to making entries and book keeping he also do some other jobs like filing various returns under the various acts and attending assessments and doing all the necessary jobs which relates to accounts and finance.
Accountants job not only restricted to making entries and book keeping he also do some other jobs like filing various returns under the various acts and attending assessments and doing all the necessary jobs which relates to accounts and finance.

Thank You for your responses! Greatly appreciate the help :)

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