What is one of the main duties of a chief accounting officer?

The role of a chief accounting officer (CAO) primarily revolves around maintaining the accounting functions and ensuring accurate financial reporting within an organization. Keeping the company’s books is fundamental to this position, as it involves the oversight of all financial records, transactions, and the overall integrity of financial statements. This responsibility ensures compliance with accounting standards and regulatory requirements, which are critical for the company's financial health and transparency.

The CAO must ensure that financial activities align with generally accepted accounting principles (GAAP) and monitor the accuracy of financial data to provide valuable insights for decision-making. As the top accounting professional, the CAO coordinates with other areas of finance and accounting within the organization, focusing on the accuracy, consistency, and reliability of financial information, which is essential for effective management and strategic planning.

In contrast, while minimizing tax liabilities can be a component of the broader accounting function, it is usually more the responsibility of tax professionals or accountants specializing in tax strategy. Assisting with investment strategies and overseeing marketing campaigns fall outside the typical scope of a CAO’s duties, as these areas are generally managed by finance managers or marketing executives, respectively. Therefore, keeping the company’s books directly embodies the primary function and responsibility of a chief accounting officer, making it the correct