What can a CA do?
Why Choose a CA?
How are CA's Different From Other Accountants?
The CA advantage Brochure

Most people think of Chartered Accountants (CAs) as number crunchers, or people who mainly deal with audits and taxes. However, the profession has changed. Over 50 per cent of Nova Scotian CAs are part of the management team of various organizations and businesses, or they may be entrepreneurs running their own businesses or consultancy firms. The remainder are in public practice, as partners or employees of a firm, or are sole practitioners, providing a variety of business advisory services for both small and large business clients.

Whether your business is just a concept or already up and running, a CA can help make to your venture a success. With their intensive education and training, CAs have the expertise you need to make your business grow. CAs offer more than just accounting services. You can rely on your CA for expert business advice.

What Can a CA Do?

CAs offer a variety of services to business people, including:

• Start-up counseling
• Purchase and sale of businesses
• Business valuations
• Creating a business plan and financial projections
• Developing strategies for securing financing
• Tax planning
• Corporate and personal income tax
• Information technology and needs analysis
• Selection and implementation of computerized financial reporting systems
• Assurance (audits and reviews)
• Financial Reporting
• Preparation and analysis of financial information
• Acting as a Trustee for receivership, insolvency or bankruptcy
• Developing management controls
• Management consulting
• International business venture planning
• Forensic Accounting and litigation support

Why Choose a CA?

CAs can help with all aspects of your business, from creating the initial business plan to conducting an audit. No other accounting designation demands the education and training required of CAs. As a result, the CA designation has garnered international recognition and respect. To qualify for membership, all CAs in Canada must complete rigorous education requirements, culminating in the UFE (Uniform Evaluation). CAs must also have a minimum of 30 months work experience in an approved firm before qualifying for membership. As well, to retain their designation, CAs in public practice are subject to mandatory practice review to ensure their knowledge is current. So when you choose a CA, you are getting comprehensive and up-to-date business advice.

How are CA's Different From Other Accountants?

1. CAs are the only professional accounting students required to train in an approved public practice firm, under the direct supervision of a member of their profession - resulting in the most in-depth experience and exposure to a variety of businesses, organizations and business structures.
2. CAs are the only Canadian accountants who must pass a comprehensive national uniform evaluation, known as the UFE, considered by many to be the most rigorous final exam in the world for professional accountants.
3. CAs are the only professional accountants who are authorized to practice all aspects of public accounting, including performing audits on public companies across Canada.
4. CAs set the accounting and auditing standards for Canada through the national membership body, the Canadian Institute of Chartered Accountants (CICA).
5. "CA" is the most internationally recognized Canadian accounting designation.

Accountants can issue financial statements with three main types of reports, commonly referred to as an audit (or assurance) report, a review report, or a notice to reader.  These three reports communicate different levels of involvement with the financial statements, and the degree of reliance the reader should place on the accountant’s involvement.  If you are not aware of the differences, you should refer to Understanding Reports.