DEFINITION of 'Accountant In Charge'

The person responsible for personnel and assigning the tasks involved in an audit. The accountant in charge maintains workflow by assigning tasks to accounting and clerical staff, monitors an audit's progress, recommends controls and process adjustments, enforces standards, and follows legal guidelines. The accountant is typically a CPA.

BREAKING DOWN 'Accountant In Charge'

In accounting consultancy firms, the accountant in charge is the point person that maintains the relationship with the client. He or she is often tasked with bringing in new business and upholding the firm's reputation by maintaining strict confidentiality with existing clients.

  1. Auditing Standards Board - ASB

    The American Institute of Certified Public Accountants' (AICPA) ...
  2. Audit

    An unbiased examination and evaluation of the financial statements ...
  3. Audit Department

    An audit department is a unit within a company that is responsible ...
  4. Continuous Audit

    Continuous audit is an internal process that examines accounting ...
  5. Audit Risk

    The risk that an auditor will not discover errors or intentional ...
  6. Field Audit

    A field audit is a comprehensive tax audit conducted by the Internal ...
Related Articles
  1. Taxes

    Your Chance of a Tax Audit Is the Lowest in Years

    The risk of a tax audit, for you or your company, is the lowest in years, but that doesn’t mean you should skirt the law or stop keeping records.
  2. Taxes

    What To Do If You Get Audited

    If you're in the minority of those that get audited, find out how to prepare and how to handle the process.
  3. Personal Finance

    A Day In The Life Of An Auditor

    If you like the idea of examining and attesting to a company's financial performance for a living, a career in auditing might be right for you.
  4. Insights

    A Look At Accounting Careers

    More than just crunching numbers, this career blends detective work with trouble shooting.
  5. Taxes

    Should You Be Worried About a Tax Audit This Year?

    Tax audits have decreased in recent years and are targeted toward high earners and business owners.
  6. Managing Wealth

    Accounting Research Manager: Career Path & Qualifications

    Discover the basic responsibilities of an accounting research manager, the path this career usually takes and the qualifications needed for this career.
  7. Managing Wealth

    Make $1 Million? Expect an Audit

    If you make $1 million or more, the IRS has its eyes on you. Here's what you can do about it.
  8. Managing Wealth

    Accounting Research Manager: Job Description & Average Salary

    Learn about the average salary of an accounting research manager as well as the necessary skills, experience and education, and licenses to hold this position.
  9. Personal Finance

    Career advice: Accountant versus controller

    Learn about the differences between controllers and accountants, how the two are related and which is the best career choice for aspiring bookkeepers.
  10. Insights

    How The IRS Works: Functions & Audits

    Even the most enlightened citizen curses taxes, possibly while simultaneously acknowledging that they're the price of a civilized society.
  1. What should I do to prepare for an IRS audit?

    Find out how to prepare for an IRS audit, what kinds of audits you might face and what kinds of habits you should develop ... Read Answer >>
  2. What is an IRS letter audit / audit by correspondence?

    Learn about IRS letter audits, how tax returns are selected for audits and the common outcomes in the letter audits conducted ... Read Answer >>
  3. What are some examples of inherent risk?

    Read about the nature of inherent risk in preparing and executing financial audits, including some common situations that ... Read Answer >>
  4. What's the difference between a CFA and a CPA?

    Learn the difference between the designations of Certified Public Accountant and Chartered Financial Analyst. Explore their ... Read Answer >>
  5. How is the Federal Reserve audited?

    Learn how the Federal Reserve gets audited. Due to gridlock, the Federal Reserve has been forced to take on the role of stimulating ... Read Answer >>
  6. What are some examples of general and administrative expenses?

    Learn examples of the general and administrative expenses such as audit fees, legal fees, rent, utilities and office equipment ... Read Answer >>
Hot Definitions
  1. Call Option

    An agreement that gives an investor the right (but not the obligation) to buy a stock, bond, commodity, or other instrument ...
  2. Standard Deviation

    A measure of the dispersion of a set of data from its mean, calculated as the square root of the variance. The more spread ...
  3. Entrepreneur

    An entrepreneur is an individual who founds and runs a small business and assumes all the risk and reward of the venture.
  4. Money Market

    The money market is a segment of the financial market in which financial instruments with high liquidity and very short maturities ...
  5. Perfect Competition

    Pure or perfect competition is a theoretical market structure in which a number of criteria such as perfect information and ...
  6. Compound Interest

    Compound Interest is interest calculated on the initial principal and also on the accumulated interest of previous periods ...
Trading Center