Page 68 - Jan-Mar 2016 The Pakistan Accountant

Signature Qualification CA that Empowers to Lead PAKISTAN Join the Discource typically outperform individuals when the tasks being a manager guide/check work of assistant manager, done require multiple skills, judgment and experience. a partner guide/check work of managers, a group of In other words, teamwork refers to different small and partners guide/check work of partner on technical/ large parts of a machine, where parts through teamwork judgmental issues. deliver sophisticated, advanced, improved, fast, huge quantum and flawless output/results. 2. In a successful organisation, team works – in all the departments like planning/budgeting, production, One time, a practicing chartered accountant used to have accounts and finance, procurement, marketing, control full knowledge, command and competency in accounting, and compliance, systems, HR, etc. reduces risks of auditing, taxation, corporate laws and management errors, fraud and wastages and enhances productivity consultancy. But it is humanly impossible these days and performance and ultimately makes the organisation due to everyday changes, complications and challenges profitable and sustainable. For example: in accounts taking place in each of these areas, and now these department in its accounts payable section, few organisational objectives are achieved through teamwork persons gather approved documents of transactions, of partners, where each partner focused to each area of a few prepare vouchers, a senior checks the vouchers objective like accounting or auditing or taxation, etc. is with supportive documents, a manager authorises the involved in it through research and in-depth knowledge ultimately achieve expertise and specialisation in it, and vouchers. So the risk of errors and fraud in recording the organisation as a whole, through partners teamwork, liability reduces and makes the record reliable, of course, contribute satisfactorily to the clients. through this team work. Further teamwork reduces risks of errors, frauds and Adil Farooq Qureshi, ACA wastages, and enhances productivity and performance Kot Addu and ultimately makes the organisation a success in all respects. The following few examples supports this Yes, of course, and indeed teamwork is compulsory to statement: sustain the success. Without teamwork, no organisation 1. In a chartered accountancy firm, a teamwork reduces has been able to achieve success and maintain it risks of errors in their audit work as semi-senior guide/ afterwards. Whether it’s a Small and Medium Enterprise check work of juniors, a senior guide/check work of (SME), a listed company or a multinational concern, semi-seniors, a supervisor guide/check work of seniors, teamwork is, without exception, a key factor to achieve assistant manager guide/check work of supervisors, the objectives and be successful in the corporate world. 66 The Pakistan Accountant January - March 2016