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Public accounting functions

Public Accounting Functions

Audit, Assurance & Risk Advisory Services

Audit practice professionals provide independent and objective assurance on information, transactions and processes. Risk Advisory Services professionals help clients identify, understand and manage business and technology risk, measure and improve performance, and achieve strategic and operational goals.

These services enable clients to make more meaningful and effective decisions, and strengthen their confidence in the information being reported to the capital markets and stakeholders. This function is also often responsible for providing audit committee members with information and supporting audit committee practices and processes.

Financial Advisory Services

Financial Advisory Services professionals are employed in a range of advisory services to help meet the challenge of enhancing shareholder value in a complex, dynamic business environment.

Corporate Finance

Corporate Finance professionals provide independent advice to clients seeking assistance with business and financial transactions. There is a demand for strong technical and industry knowledge with respect to planning acquisitions, disposals and mergers, appraising business opportunities, negotiating transactions and prices, and financing the deal. The goal is to turn complex and difficult issues into clear and actionable advice to help clients achieve results.

Forensic

Forensic services assist clients through the confusion and complexity of commercial disputes and litigation, as well as in the investigation and prevention of fraud and other illegal or unethical activity. Many firms have a multidisciplinary practice that draws on the combined skills of business, finance, accounting, legal, information technology, and investigation professionals.

Restructuring Services

Restructuring services assist organizations experiencing financial and/or operational difficulty. There is a demand for key industry-focused professionals who can deliver timely, clear, and independent advice to organizations across Australia and the Asia Pacific region. Professionals in this area combine in-depth experience in restructuring and impaired loan management, with a practical understanding of organizational processes and practices.

Transaction Services

Deals that fail to enhance shareholder value can result in dramatic reductions to a company's share price and leave even the largest organizations vulnerable. Transaction Services can help clients improve the probability of the deal delivering value by enhancing the efficiency and focus of the transaction approach and providing the
right information to facilitate better investment decisions.

Middle Market Advisory

Middle Market Advisory delivers a wide range of services to medium-sized publicly listed companies, as well as privately owned and managed businesses, whatever their industry, size or complexity. Professionals in this area provide a range of advice, from ongoing strategic advice, to the preparation of financial reports, tax planning, and compliance.

Tax

Tax is typically an industry-focused practice that offers depth and breadth of professional experience across a wide range of taxation areas. Professionals in this area provide quality advice through a deep understanding of industry challenges and by tailoring their knowledge, ideas and strategies to address clients’ specific needs. Positions in Australia and New Zealand in this field will likely require candidates to complete coursework to familiarize themselves with the particular tax environment of the country.

IT Audit

The purpose of an Information Technology Audit (IT audit) is to provide the client with a comprehensive review of the controls within the firm’s technology infrastructure. Such a review is usually conducted along with a financial statement audit, internal audit review, or other form of assurance.

Blog contributed by RV.

PS: Comments added by SP

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I feel that if you are a member of ICWAI and you pursue CIMA, UK qualification, you are not adding any value to your skills since you will be learning the same. Once you are qualified, you are still a Cost & Management Accountant but from UK. For an employer, I would still have same skills and training on Management Accounting.

However if you pursue qualification like Company Secretary or CPA or ACCA, your skills are enhanced with the knowledge gained during training and passing of exams. After qualification, you are bound to follow the CPD programs of ICWAI and other institute. In competitive world, employer look for people with multiple skills.

Which one promotes you as professional better against your name:
AICWA, ACMA
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or AICWA, CPA
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Regards,

Santosh Puthran



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