The job of an accountant in kuwait is to ensure that, a company or private business is run smoothly and that all purchases and sales are correctly accounted for and to prepare a clean set of books for the tax departments. Each business regardless of size or status needs to have their business logs and movements signed off by a professional related body and the appropriate taxes paid on time. It is always their job to ensure that, there will be no nasty surprises further down the line with documents, payment or tax discrepancies and that every business movement and transaction can be accounted for by way of an online company accounts package or a physical set of business files with duplicate or triplicate copies of everything for future reference.
Roles of an Accountant in Kuwait
The roles vary from an accountant to and auditor and of course the qualifications requirements are also different, but an account normally prepares the books and makes them available for inspection and the internal or external auditor usually scrutinizes them for accuracy. Both the the accountant and auditor can either deal with private or commercial clients or even both and can be employed by a company or be self employed and build their own client list.
Accountants who work in the public sector will normally be involved with the preparation of company books for various organizations which can include government bodies, sports organizations and private individuals and their wide and varied workload will include offering advice and any tax advantages which they may be missing out on and ensuring that, tax returns forms are filled out correctly before being sent to the relevant tax department. Other forms of public accountancy can include informing clients of available healthcare benefits or employee protection and any change in government legislation towards claims and employee compensation rights. Some corporate businesses bring in external auditors and pay handsomely for this privileged service in order to ensure that, everything has been correctly accounted for and no stone is left unturned.
Another section of accountancy is in the management side of the business. This particular role would usually mean that the accountant would normally only be involved in the financial side of the business with a strong focus on the purchase and sales ledgers and the accountability of all movements within these two ledgers. They are usually paid specifically for setting weekly/monthly/yearly sales budgets and targets for the fellow members of staff and all is laid out in black and white for the senior members of staff and boardroom to peruse. It is normally the job of a management account to evaluate individual performance and to give specific targets to each member of staff in order to achieve the required results. They normally liaise with the authority figures within various business organizations and set specific goals towards budgeting, cost cutting measures were appropriate, buying the right products for the business and setting financial goals for the company. They also play a integral part towards financial projections and keep the company shareholders up to date with the latest developments within the business.
Government Accountant Jobs
The role of a government accountant in Kuwait normally involves work within government departments and keeping the books of these related businesses bang up to date and the work also includes doing work for self employed business owners and keeping their books up to date. All of the work is carried out in accordance with Kuwait rules of which the laws and rules of taxation which can vary between states.
The role of an internal auditor is one which would normally consist in checking the smoothness of the company’s financial status and if any changes have to be made in order to improve the effectiveness of the business. It is also their job to check for any wrong doing within the business and check for any signs of financial irregularity or fraud. They specialize in going through the books with a fine tooth comb and making sure that, the company is in good shape and free from any wrong doing.
An external auditor is usually brought in if a company suspects that something is not quite right or there are financial misdemeanors which cannot properly be accounted for. Companies will either pay an outside body to bring in an impartial and unconnected person to go through the books or if the tax office suspects something then, they have their own auditors in place for this type of task. Normally when there’s reasonably large sums of money involved will the service of an external auditor be called upon.
The modern era has introduced several online accountancy packages as standard when you buy an IBM PC or an Apple Mac computer and makes the job of accounting in kuwait for all of your companies movements so much more straightforward. A modern day accountant will be computer literate and have a firm grasp of the most up to date accountancy packages in the marketplace and be able to sign of the companies books quite quickly in order for them to be prepared correctly for future analyzes.