Is an accountant the same thing as a lawyer?

Answer 1

NO ,an accountant I mean anybody who looks after your books of accounts is not the same as an auditor .He is only entitled to MAINTAIN your books of accounts as per the provisions of the Income Tax Acty 1961.An auditor on the other hand as per the provisions of the ACT ( Income Tax Act 1961) is a qualified CHARTERED ACCOUNTANT and is only then entitled to audit books of account.To audit means to correct ,verify and valuate the books of accounts.It includes the duties to see whether the entries have been passed correctly and to the correct ledgers,to verify whether the assets and liabilites really exist ,and to accurately conduct their valuation ,also to see whether the valuation which is previously done by the management is correct or not . The biggest difference between an accountant and an auditor is that an accountant is your employee and your auditor who is necessarily a C.A is your consultant .These two positions are never the same. Hope this may have solved your question ,if not feel free to contact me on my email id businessnair@rediffmail.com . THANKING YOU, YOURS FAITHFULLY, SANTOSH NAIR .

Answer 2

No, an accountant keeps track of money, for example, accounts receivable, paying bills, doing payroll, figuring out your taxes. A lawyer deals with your legal problems, or does your will or represents you in court if you are charged with a crime, or accused of wrong doing in a civil case.

Answer 3

Most auditors are going to be auditing financials. That puts an accountant in a better place for being an auditor. For other audits it may not matter.