What is the difference between a TOC and a ROC?
Posted: Thu Dec 05, 2024 10:31 am
Official Accounting Technician (TOC)
This professional is responsible for the accounting and tax affairs of the company to which he/she provides services, ensuring that the law in force is complied with. He/she is also responsible for reporting the company's accounting obligations, delivering the tax documents of the company he/she represents on time.
TOCs are currently called Certified Accountants (according to Decree Law No. 139/2015 of 7 September ). To fulfil their duties, they must complete an internship and pass a professional exam with the OCC (Order of Certified Accountants).
Official Auditor (ROC)
The ROC reviews and audits the accounts of public and private companies twitter phone number data institutions. After careful investigation, this professional issues a legal certification of the company or an audit report regarding its financial situation, results of operations and cash flows.
The Official Auditor performs his/her duties in accordance with the technical standards recognized by the Order of Auditors (OROC).
Main Differences Between TOC and ROC
Although the basic training required for a certified accountant or a statutory auditor is identical (economics, management, accounting, taxation, etc.), the functions that each professional performs are different.
In practice, the Certified Accountant is responsible for the day-to-day accounting and taxation of the company to which he provides services, ensuring that everything is in accordance with current legislation and is delivered within the stipulated legal deadlines.
In turn, the Statutory Auditor provides a review and audit service for the general accounts of the company or organization. He/she is obliged to verify whether the accounts comply with the technical standards recognized by OROC (Order of Statutory Auditors).
This professional is responsible for the accounting and tax affairs of the company to which he/she provides services, ensuring that the law in force is complied with. He/she is also responsible for reporting the company's accounting obligations, delivering the tax documents of the company he/she represents on time.
TOCs are currently called Certified Accountants (according to Decree Law No. 139/2015 of 7 September ). To fulfil their duties, they must complete an internship and pass a professional exam with the OCC (Order of Certified Accountants).
Official Auditor (ROC)
The ROC reviews and audits the accounts of public and private companies twitter phone number data institutions. After careful investigation, this professional issues a legal certification of the company or an audit report regarding its financial situation, results of operations and cash flows.
The Official Auditor performs his/her duties in accordance with the technical standards recognized by the Order of Auditors (OROC).
Main Differences Between TOC and ROC
Although the basic training required for a certified accountant or a statutory auditor is identical (economics, management, accounting, taxation, etc.), the functions that each professional performs are different.
In practice, the Certified Accountant is responsible for the day-to-day accounting and taxation of the company to which he provides services, ensuring that everything is in accordance with current legislation and is delivered within the stipulated legal deadlines.
In turn, the Statutory Auditor provides a review and audit service for the general accounts of the company or organization. He/she is obliged to verify whether the accounts comply with the technical standards recognized by OROC (Order of Statutory Auditors).