Accountant Responsibilities in 2015

People use accountants for many reasons; keeping business records balanced and accurate, managing payroll duties, personal and family budgeting, and monitoring bank accounts and balances are but a few.

Taxpayers and businesses also rely on accountants for help with taxes. Tax returns, quarterly filings, and audits are all crucial responsibilities, and for the year 2015 they are much more complex due to new rules related to the Affordable Care Act.

In order to make sure an accountant is qualified it is prudent to seek out a Certified Public Accountant (CPA) because these individuals have been educated, trained, and certified as being competent in all areas of accounting.

Certified Public Accountants are held in high regard for their level of knowledge as well as their ongoing and rigorous continuing program of education, necessary to keep pace with changes in regulations. With this stature however, comes a high level of responsibility and they are subject to liability in case of breach of contract, negligence, or fraud.

CPAs are licensed in each state, and it is possible to verify a license online. In the State of New York, a search is possible through New York State Education Department – click here – and the website will tell you if a license is valid and when it expires.

When a CPA makes a mistake through action or inaction and someone suffers financial loss or other damages the victim may be able to seek compensation. This is a delicate and specialized area of law that is best handled by an attorney with experience in accounting negligence.

MalpracticeAttorneys.com is the leading online source for information related to accounting negligence in New York State and across the country. If you feel an accountant has erred, please go to our site and register. You will be contacted soon by an attorney who will protect your rights and advise you on the appropriate steps to take.