Accountant

A person who has the requisite skill and experience in

establishing and maintaining accuratefinancial record
s for an individual or a business. The duties of an acc
ountant may include designingand controlling system
s of records, auditing books, and preparing financial s
tatements. Anaccountant may give tax advice and pre
pare tax returns.
A public accountant renders accounting or auditing se
rvices for a number of employees, each ofwhom pays
the accountant a fee for services rendered. He or she
does more than just bookkeepingbut does not general
ly have all the qualifications of a certified public accou
ntant.
A certified public accountant is one who has earned a
license in his or her state that attests to ahigh degree
of skill, training, and experience. In addition to passin
g an accounting examination, acandidate must have t
he proper business experience, education, and moral
character in order toqualify for the license. The letters

CPA are commonly used and generally recognized to

be theabbreviation for the title Certified Public Accoun
tant.
The practice of accounting is a highly skilled and tech
nical profession that affects public welfare. Itis entirely
appropriate for the state to regulate the profession by
means of a licensing system foraccountants. Some st
ates do not permit anyone to practice accounting exce
pt certified publicaccountants, but other states use the
title to recognize the more distinguished skills of a CP
A whilepermitting others to practice as public account
ants. All states limit the use of the title and theinitials t
o those who are licensed as certified public accountan
ts.
All accountants are held to high standards of skill in is
suing professional opinions. They can besued for Mal
practice if performance of their duties falls below stan
dards for the profession.
West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc.
All rights reserved.