What is the role of accountant in society

Today we will learn about the  role of practicing accountant in society Practicing Accountant have an important role in society. Investors, creditors, employees  and the sectors of business community as well as general public rely on audited financial statements, and competent advice on number of business and taxation matters. The attitude and behavior of practicing accountants in providing such services have an impact on economic well being of their community and country.

Every individual have its role in his society. Well we are discussing about Accountant a practicing Accountant or Professional Accountant. Before you know the importance or role of an Accountant you must have to know who is an  Accountant, what are the role and responsibilities of an accountant in his job.

Practicing accountants provide the public with above unique services at a level which demonstrates the public confidence. In formulating ethical codes, member bodies consider public service and user expectations of the ethical and professional standards of professional accountant and take their views. In this manner the expectation gap between the standards expected and those prescribed may be narrow down.

Audit plays significant role in serving public intrest by increasing acceptability, trust and confidence in financial reporting. Accordingly audit is useful in enhancing economic prosperity. The stock market will be more active as the public will have more confidence in published accounts.

The annual audit of financial statements provides greater protection against provision of false information to the market influencing share prices.

The auditor may also be asked to review social report of the companies which may include his attention on matters like

·         Customer Satisfaction

·         Staff Satisfaction

·         Health and safety

·         Donations

·         Education

·         Environmental improvement

·         Energy Saving

In short all financial accounts and financial pictures are designed by Professional Accountant. So if Accountant is performing well the Economic is performing well and I would like to say very honestly if Economic is well Society will be fine.