Chartered accountants work in many different settings, in roles ranging from sole practitioner to chief executive of a multinational company.

In public practice firms, they provide professional services to a wide range of fee paying clients, from private individuals to large commercial and public sector organisations, including banks. These services include audit/assurance, accountancy, tax, business advisory, management consultancy, systems and IT, corporate finance, corporate recovery and forensic accounting.

In commerce/industry and the public sector, chartered accountants may work in fund management, venture capital and equity analysis, as well as in financial management and reporting roles.

In public practice, typical work activities include:

Audit/assurance (an audit is an independent check of a company's financial statements and systems to ensure that the business is presenting a 'true and fair' view of its financial position):

• reviewing the company's systems and analysing risk;
• performing tests to check financial information and systems;
• advising clients on areas for business improvement.

Tax:

• advising clients (individuals or businesses) on tax planning within current legislation to enable them to minimise their tax liability;
• advising clients on the tax issues associated with activities such as business acquisitions and mergers;
• calculating tax liabilities for clients and liaising with HM Revenue & Customs (HMRC) on their behalf.

Other areas:

• maintaining accounting records and preparing accounts and management information for small businesses (accountancy);
• advising clients on business transactions, such as mergers and acquisitions (corporate finance);
• advising clients who are in financial difficulty to help them turn the business around or to handle the disposal of the business (corporate recovery/insolvency);
• detecting and preventing fraud (forensic accounting).

In commerce and industry, and the public sector, typical work activities will involve:

• producing reports and recommendations following internal audits or public sector 'value for money' audits;
• preparing financial statements, including monthly and annual accounts;
• preparing financial management reports, including financial planning and forecasting;
• advising on tax and treasury issues.