The term “public adjuster” is an older term that was used prior to the creation of the modern system. A “public accountant”, “accountant public”, or “accountant public” is one who works in the field of accounting as an individual or as a representative of a firm. A public accountant is responsible for, among other things, collecting the financial records of a firm and preparing the firm’s annual and quarterly reports. He is also responsible for, among other things, advising the company about its tax obligations. As the name suggests, a public accountant is supposed to be accessible to the members of the accounting firm for the purpose of explanation of financial records, and for the purpose of assisting them with regard to the preparation of their annual reports.
There are three parties in the relationship between a public accountant and a client. First, the public accounting firm represents the company in question. Second, the accountant provides that representation. And third, the public accountant performs the actual work within the jurisdiction of the accountants.
As already noted, the purpose of a public accountant is to assist the internal accounting officers of the company with regard to the preparation of its annual reports and the giving of statements for tax purposes. That’s why the profession is also called the “third party” practitioner. This is because the professionals do not act in the name of their clients; they act in the name of the law: the law of accounting. That being said, however, most public accountants work on a contingency basis, meaning that they receive a percentage (a contingency fee) when their case is successful and no percentage when their case is unsuccessful.
How does a National Fire Adjustment in Canada go about their job? Public accountants conduct research, gather information, gather witness information, analyze the information that they have gathered, make notes on their findings, and then prepare and submit an audit report to the company’s CPA. That’s right – the “CPA” is the accountant who works for you in the bankruptcy proceedings.
Before a public accountant can do any of those things, though, he must get the consent of the CEO and the CPA. Once he receives these signatures, the public accountant then has two weeks to find a qualified individual to review and sign the audit report. The review and signing process requires absolute cooperation from all parties involved, which is why the process can sometimes be lengthy. Additionally, the CPA may have a conflict of interest if he wants to recommend that the company hire a certain attorney or paralegal.
Why do we call public accountants? Because that’s the way that most people think of them. The reality is that there are different types of accountants. Some specialize in financial statements and reports, while others focus on audits and financial statements alone. Some public accountants also perform internal accounting services, such as filing tax returns or preparing the corporation’s financial statements.
A good question that a new CEO should ask is, “what does a public accountant do?” That’s not to say that the answer has to be a straight-forward response, because the definition of an accountant is “one who prepares financial reports for business or personal use.” So, if I were being probated for malpractice or wrongful death of a loved one, I might want to call a forensic accountant. If I were looking at what does a public accountant do, I might call a corporate attorney, an estate planning attorney, or a bankruptcy attorney. Not every lawyer specializes in tax law, so that’s why it’s important to understand what an “accountant” actually does when you’re being questioned about your company’s finances.
Here’s one more question that you should ask your lawyer or accountant before making a decision about your company’s finances. What does a public accountant do if the public finds out that your corporation is not able to pay its bills? The answer is not simple. Depending on your jurisdiction, the accountant might have to file a motion to intervene, which means he or she will petition the court to allow him or her to file for an order that will allow the public to know. And the courts might take them to task if they find out about this, but they might also rule in favor of the accountant if they believe that he or she did the right thing by gathering the information first and then acting upon it.
