Discover how the PACTE law is transforming the role of chartered accountants, from auditing to advisory services, and the impact on their profession and clients. Learn about the new challenges and opportunities for chartered accountants in the digital age.
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[...] - Success fees: they will allow chartered accountants to regain margins on high-value-added missions that are not related to time spent. The risks and competitors of chartered accountants Accounting firms and audit firms must also face the digital transition and digital becomes an indispensable element of the strategy of the firms. In fact, the digitalization of processes is at the heart of the firms' processes since it allows them to automate certain accounting processes and increase their efficiency and profitability. [...]
[...] The chartered accountant of today and tomorrow is really considered a trusted third party who will support the company manager and enlighten and guide him in decision-making. Similarly, accounting firms must also face the arrival of new competitors on the market. Who are they? - Banks that are expanding their services and are increasingly present in the areas of mergers and acquisitions, wealth management, or succession and transmission. - Digital platforms: many platforms have emerged and offer a platformization of services by putting in touch business leaders with accounting firms. [...]
[...] The areas of intervention of the chartered accountant are extremely numerous and do not limit themselves to accounting alone. What are they? - Accounting: it is his area of preference, he brings his expertise to companies by maintaining and monitoring accounting, preparing annual accounts, preparing forecast budgets, calculating cost of sales, implementing analytical accounting, that is to say, he treats financial data that aims to explain financial results or to determine the evaluation bases of certain elements of the balance sheet, such as for example stocks). [...]
[...] In fact, initially, we distinguished between chartered accountants and certified accountants. Chartered accountants had the mission of analyzing the economic and financial situation of the company and accountants kept the accounting. The two professions merged in 1994. Until very recently, the main mission of the chartered accountant was solely accounting and the accompaniment of the company in its social approaches was only secondary, even if they were authorized since 2004. In 2011, the trust third party was introduced and the chartered accountant has since been authorized to intervene with natural persons. [...]
[...] The chartered accountant is a professional in accounting and brings his expertise in various fields. He is a precious counsel for the business manager since he accompanies him in the management of his company, both in terms of taxation, financial management, asset management and social management. The key figures of the sector in France: there are now more than 21,000 chartered accountants. The total turnover of the profession amounts to around 11.5 billion euros. The profession of chartered accountant is practiced in 3 types of firms: small firms, medium-sized firms and large firms (including the "big four"). [...]
