Profession that public accountants are engaged in. Independent public accountants perform many functions, including auditing financial statements, designing financial accounting systems, assisting in the managerial accounting function, providing managerial advisory services, and tax preparation. The public accountant may perform services for corporations, partnerships, individuals, and other organizations. The certified public accountant is regulated by state law and must meet stringent technical and ethical requirements.
These requirements include passing the CPA examination, satisfying experience requirements (e.g., two years in New York), and abiding by the American Institute of CPA's Code of Professional Ethics.