If you’re interested in providing tax assurance services in your career as a financial professional, then you have more than a few viable options for fields and designations that hold the opportunity to do so. The value of tax assurance is relevant to just about every known category of business in the world. Too many failures to remain tax compliant due to the difficulties of rapid expansion or a lack of hired tax management expertise can put younger businesses at a risk of getting taken down before they can fully recognize their full potential.
With the assistance of a credentialed tax assurance expert in their ranks, a business can ensure that it is always in the best possible position to have all relevant financial records readily accessible and prepared with nothing but the correct information.
The full value of tax assurance comes from the power that it has to dispel confusion and clearly communicate meaning out of disorganized, potentially inaccurate figures. Many business owners without a history of financial education are at a loss for ways to detect their unseen tax error risks, but with a tax assurance providing professional’s help, owners can be far more confident in the fact that their true tax figures are accurately interpreted and reported as they should be.
One of the worst nightmares for any business that generally makes an attempt to remain within tax compliance is the discovery that they’ve failed to comply due to the simple misinterpretation incorrectly represented figures. An accountant or consultant who is adept in tax assurance greatly reduces the risk of businesses being led astray with a false sense of security by hidden information risks. The following are just a few examples of the careers and finance professional designations that commonly include tax assurance as a standard service to their clients.
Certified Public Accountant (CPA)
With their extensive finance education and rigorous accounting training, certified public accountants (CPAs) are particularly valuable for their ability to address the potentially daunting challenge of spotting falsely represented information in financial records, according to Investopedia.
For many small to mid-sized firms, a competent CPA is absolutely vital for ensuring that the tax department is able to correctly abstract whatever the most vital messages held within its financial data are. Under certain circumstances, a CPA may provide just as much of a general consultancy role as they do an assurance role. In the event that a CPA is employed as the Chief Financial Officer of Finance Management, their services will be exclusively provided to the business that employs them rather than the public.
Chartered Certified Accountant (ACCA)
Organizations in every field of finance and business that there is can benefit from a Chartered Certified Accountant’s (ACCA) financial record-keeping efficiency. ACCAs are found in the public, government and private sectors with relatively equal representation across the board. While the Association of Chartered Certified Accountants is based in the UK, there are over 170,000 credentialed members stationed throughout the globe.
Related Resource: What is Global Accounting?
Financial Audit Consultancy
Financial audit consultants are another highly valuable kind of professional that can help a business ensure they always have the most accurate perception of their financial welfare. The services provided by financial audit consultants is particularly vital during times of economic strife, where less abundant funding and slowed business makes it even more critical for businesses to ensure that all financial records are in proper order.