Differences between Certified Chartered Accountant Southampton and Statutory Auditors (ROC)

Never as in the current times that companies are living, has the intervention of specialists in supporting the management of companies become so evident, and in the information that the support systems provide to managers for their decision making.

What is the difference between a ROC and a Certified Accountant?

Certified Chartered accountants in Southampton

In UK, companies are required to have a certified chartered accountant Southampton who assumes the functions of liaison with the Tax Authority, and also to support managers in the preparation of financial information that appropriately reflects the equity facts arising from their decisions on assets corporate social responsibility.

The Certified Accountant (previously designated as the Official Accountant) is a professional who needs to obtain recognition and registration from the Order of Certified Accountants in order to perform his duties. Consequently, these specialized technicians exercise their profession based on the rules and statutes issued by the Order that represents them for the exercise of their functions in companies. So what are these functions?

Managers are the people who have the obligation, under the mandate of the partners of the companies, to make decisions about the social assets that the partners have made available to the company for the exercise of a certain activity.

The exercise of the accounting profession is based on the application of a vast set of accounting standards that require a specialized interpretation to give shape and highlight, in the accounting information system, the decisions and patrimonial facts of management's initiative. It is here that the Certified Chartered Accountant Southampton becomes fundamental, that is, he is the guarantor that the equity facts are adequately expressed in the face of the Accounting Standards in force and applicable to the entity.

In turn, and as I also mentioned, the Certified Accountant is the bridge between the entity and the Tax Authority (AT), as it is responsible for adjusting that accounting standard to the legal standard applicable to each of the taxes applicable to equity facts by management.

Statutory Auditor

Companies are not closed entities between partners, managers, accountants and AT, as they are entities that are critical to the functioning of societies in general and are fundamental players for economies to function and develop. Thus, there are other entities that also have and exert a lot of influence on companies: usually called by stakeholders.

So who are the stakeholders? They are entities that have an interest in the heritage or activity of a particular company but are not shareholders ( shareholders ) who in most cases need the information available to be reliable and credible.

Now, this is where the Statutory Auditors or Auditors appear, who, like Certified Accountants, are also highly specialized professionals in several subjects (management, economics, finance, law, accounting, taxation), who are also subordinate to the supervision of their Order of Statutory Auditors and also of the Securities Market Commission.

For their part, the Statutory Auditors and Auditors are also regulated, in the exercise of their activity, by the application of International Auditing Standards and in legislation when applicable.

It seems redundant in the eyes of public opinion, but the stakeholders of the companies that require such CONFIDENCE and CREDIBILITY of the financial information prepared by the managers of the companies, know that the functions of the auditors go beyond the financial, accounting and tax information, that is, they go also develop procedures that identify the main risks to which entities are subject and the way in which managers mitigate such risks . Because only with this complement could a certificate be issued by an independent and reputable entity that would allow to assure such trust and credibility to the assertions made by the managers and their accountants in the companies' accountability documents.

InvoiceXpress and Accounting

InvoiceXpress is a certified online software that incorporates a set of important features in the context of the exercise of the functions of both accountants and statutory auditors and auditors, of which the following stand out:

* Compliance with legal requirements

* Easy usability and support to the business process or in compliance with legal requirements

* The billing application is designed so that companies can establish and properly document the relevant internal controls that mitigate the risks of manipulation, both in the recognition of revenue and in the identification of possible errors or fraud in the sales or service delivery process

* Management information that effectively allows the manager of each sector, and the top manager, to identify any mismatches between financial information and the reality of the business.