What is an accounting firm?
Researched by: Barkha Bali
Updated on July 31, 2023
An accounting firm is a service company that helps businesses manage financial transactions and functions such as bookkeeping, payroll processing, tax planning, and financial reporting. Accounting firms also offer auditing services to review financial records for any kind of discrepancies or suspicious transactions. These services help assess a business’s financial health and ensure legal compliance.
Most accounting firms help businesses design an effective tax strategy to help reduce income tax liability and recommend the best investment avenues to build wealth.