Description

Thus all the member including those not holding COP can use the designation Chartered Accountant, but not in addition to anyother qualification. However, if a member who is not in practice and not holding COP and does not use the designation of a Chartered Accountant may use any other description.

A certified financial statement has been audited for accuracy by an independent accountant. A compiled statement may provide investors with useful information but it has not been audited. The quarterly and annual reports issued by public companies are certified financial statements.

Fully audited statements are subjected to the most intense scrutiny to verify accuracy and correctness. The following procedures are usually found in a fully audited income statement, balance sheet, cash flow statement and statement of changes in owners’ equity: Cash: Send confirmations to banks to confirm balances.

Can a Indian CA work abroad? Indian CA can work abroad because ICAI has MoUs signed with various countries across the globe which make them easier to work in various countries.