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Public Practice
The practice side of the profession is undertaken by individuals or groups of individuals in partnership. Auditing, analysing the accounts, advising on information and financial structure and systems and agreeing taxation liabilities with Inland Revenue Department are major functions of most practising firms of CPAs.
The services provided by practising firms of CPAs, however, are more extensive than this. Today, CPAs in public practice are expected to provide advices on corporate structure and finance, in fact act as advisers on financial control procedures and to undertake financial advisory, liquidation and company reconstruction work. CPAs with their broad knowledge of taxation are also increasingly sought after by clients for advice on the taxation implications of their business activities and of projected investment decisions.
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