A Chartered Accountant plays a very great role in economy. CAs plays the backbone of country’s economy. Many CAs are the main businessmen in the country which are leading the industry & Indian economy. You can find Chartered Accountant in every field.
CAs are the backbone of business. CAs do the tax planing, help in following the law & regulations, Capital budgeting & so on. CAs are the main reason for growth in business. They protect the interest of fund providers or shareholders. Guidance of chartered accountant help in running the business.
CAs also help the society by advising them on the financial matters & many other matters like startup,government policies etc. By reading the audit report a person can invest the money & grow their money.
If CAs are not in the society then Economy just get down & down or may be possible that it crashed. GDP of Economy depends on the business & business depend on Chartered Accountant.
Once the great businessman Ratan Tata said,
” I need MBAs for running my business but CAs for how to run the business”.
Chartered Accountant guide the society to how to file Income Tax return (ITR), Goods & service tax return (GSTR) & many more things which help the government to collect taxes that is used by government in building the economy.
They audit the GST, Tax & Accounts of company so that the personal of company can not commit crime. Also help company to guide on that matters so that they can escape from huge penalty imposed by government. Provide government amount in the form of taxes & stop company in evasion of taxes.
Comptroller and Auditor General (C&AG) Does the audit of Government companies that provide assurance to government that employee of company is not doing any wrong work & provide the society to invest or not to invest.
From the above we can say that Chartered Account is the heartbeat of an nations economy .