Accountant/Auditor

 

Work Tasks, Settings, Tools, and Materials

ACCOUNTANTS/AUDITORS help to ensure that the nation's firms are run more efficiently, its public records kept more accurately, and its taxes paid properly and on time. They perform these functions by offering a wide array of business and accounting services to their clients. Accountants and auditors compile and analyze business records and prepare financial reports used by managers to make decisions. They design accounting systems and procedures. They may advise clients on certain business and financial decisions. Beyond the fundamental tasks of preparing, analyzing, and verifying financial documents in order to provide information to clients, accountants and auditors are broadening these services to include budget analysis, financial and investment planning, information technology consulting, and limited legal services.
The major fields of accounting are public, management, government accounting, and internal auditing.

Public accountants may have their own businesses or work for public accounting firms. They perform a broad range of accounting, auditing, tax, and consulting activities for their clients.
Management accountants (also called industrial, corporate, or private accountants) record and analyze the financial information of the companies for which they work. Other responsibilities include budgeting, performance evaluation, cost management, and asset management.
Government accountants and auditors maintain and examine the records of government agencies, and audit private businesses and individuals whose activities are subject to government regulations or taxation.

Internal auditors verify the accuracy of their organization's records and check for mismanagement, waste, or fraud. Internal auditing is increasingly important. As computer systems make information more timely, top management can base its decisions on actual data, rather than personal observation. Internal auditors examine and evaluate their firms' financial and information systems, management procedures, and internal controls to ensure that records are accurate and controls are adequate to protect against fraud and waste. They also review company operations, evaluating their efficiency, effectiveness, and compliance with corporate policies and procedures, laws, and government regulations.

Computers are changing the nature of the work for most accountants and auditors. Special software packages allow accountants to summarize transactions in standard formats for financial records and organize data in special formats for financial analysis. Accountants are also beginning to perform more technical duties, such as controlling and auditing systems and networks, and developing technology plans and budgets.

ACCOUNTANTS/AUDITORS typically work in an office environment and frequently visit other sites to meet with clients or others. Some accountants may set up offices at home. They work for public accounting firms, business and industry, government agencies, nonprofit organizations, and education. Accountants and auditors also work with other professionals such as insurance and trust experts and lawyers.

Most accountants and auditors work in urban areas where public accounting firms and central or regional offices of businesses are concentrated. Those employed by large accounting firms or large companies may travel extensively to do work for clients or company branches.

ACCOUNTANTS/AUDITORS work with:
• accounting and tax forms
• financial reports and records
• payroll and disbursement systems
• contracts
• policies and procedures
• government rules and regulations
• computers and special software packages
• calculators and various other office machines
• fax machines, car phones and other telecommunications equipment
• video equipment for presentations
Related Civilian and Military Occupations

Investigative Accountants are used by government agencies, law firms, and corporations to check for such wrongdoing as false insurance claims and improper security trading. They also look into the finances of businesses involved in roofing and siding, waterproofing, and storm windows.

Other Related Occupations:
• Accountant, Tax
• Accountant, Budget
• Accountant, Cost
• Auditor, Data Processing
• Accountant, Property
• Auditor, County or City
• Auditor, Internal
• Auditor, Tax
• Director, Utility Accounts
Military occupational clusters related to Accountant/Auditor:
• Finance & Accounting Manager

The military specific occupations related to Accountant/Auditor:
ARMY
• Health Services Comptroller
NAVY
• Accounting Officer
• Budget Officer
• Disbursing Officer
• Internal Review Officer
AIR FORCE
• Cost Analysis
MARINE CORPS
• NAF Auditing Officer
COAST GUARD
• Comptrollership
• Fiscal Operations
Training, Related Majors, and Advancement

Most public accounting and business firms require applicants for ACCOUNTANT/AUDITOR positions to have at least a bachelor's degree in accounting or a related field. Some employers prefer those with a master''s degree in accounting or a master''s degree in business administration with a concentration in accounting. Most employers also prefer applicants who are familiar with computers and their applications in accounting and internal auditing.
Professional recognition through certification or licensure is also helpful. Every state board of accountancy grants the designation Certified Public Accountant (CPA) to accountants who pass the examination of the American Institute of Certified Public Accountants (AICPA) and meet work experience requirements. Most states currently require that CPA candidates complete 150 semester hours of college coursework...an additional 30 hours beyond the usual 4-year bachelor''s degree. Many schools have altered their curricula accordingly with most programs offering master''s degrees as part of the 150 hours. The AICPA also offers members with valid CPA certificates the option to receive the Accredited in Business Valuation (ABV), Certified Information Technology Professional (CITP), or Personal Financial Specialist (PFS) designations upon meeting certain criteria and passing an exam. The Institute of Management Accountants grants the title Certified Management Accountant (CMA) to those who pass a four-part examination. The Association of Government Accountants grants the Certified Government Financial Manager (CGFM) designation for accountants, auditors, and other government financial personnel at the federal, state, and local levels.

The Institute of Internal Auditors confers the designation Certified Internal Auditor (CIA) to graduates of accredited colleges and universities who have completed two years work in internal auditing, who have passed a four-part examination, and meet work experience requirements. The Information Systems Audit and Control Association also offers certification. Applicants who have five years of experience and pass the examination earn the title Certified Information Systems Auditor (CISA).

Professional recognition through certification or licensure, a master''s degree, familiarity with accounting and auditing computer software, or specialized expertise provides an advantage in the job market. Competition will remain keen for the most prestigious jobs, working for major accounting and business firms.

The following majors could help you prepare for this occupation:

• Accounting & Related Services
• Taxation

Capable ACCOUNTANTS/AUDITORS should advance rapidly. However, those with inadequate academic preparation may be assigned routine jobs and find promotion difficult.
Beginning accountants and auditors often start by assisting with work for several clients. They may advance to positions with more responsibility in one to two years, and to senior positions within another few years. Those who excel may become supervisors, managers, partners, open their own public accounting firms, or transfer to executive positions in management accounting or internal auditing in private firms.

Beginning management accountants often start as cost accountants, junior internal auditors, or as trainees for other accounting positions. As they rise through the organization, they may advance to accounting manager, chief cost accountant, budget director, or manager of internal auditing. Some may become controllers, treasurers, financial vice presidents, chief financial officers, or corporation presidents. In general, public accountants, management accountants, and internal auditors have a lot of occupational mobility.
Desirable Personal Qualities

Helpful qualities for ACCOUNTANTS/AUDITORS include:
• good oral and written communication skills
• analytical and problem-solving skills
• an ability to convert data into useful information
• strong interpersonal, leadership, and teamwork skills
• an ability to set processes and design systems
• an aptitude for mathematics
• an ability to analyze, compare, and interpret facts and figures quickly, and make sound judgments based on this knowledge
• a high standard of integrity
• an ability to work well with people
• familiarity with computers and accounting software packages
• accuracy and an ability to handle responsibility with limited supervision

Many skills that are useful to a successful Accountant/Auditor can be learned in school, such as:

ENGLISH SKILLS
• Explain complex activities or ideas to others using concise, well-organized, and focused thoughts.
• Organize paragraphs in a logical order with introductory and summary paragraphs.
• Write reports or documents that use sophisticated language to concisely explain ideas.
• Use sophisticated vocabulary correctly.

MATHEMATICS SKILLS
• Describe work-related problems by writing complex mathematical equations or inequalities.
• Use percentages to compute discounts, rankings, portions, or other values.
• Solve problems using properties of numbers, such as prime numbers or odd/even numbers.
• Select the most appropriate type of graph to use to present data (e.g. bar graph, pie chart, etc.)
• Use statistics and/or probability to analyze data and determine a course of action.
• Determine the probability of occurrence for any type of situation.
• Interpret line graphs and recognize the formula for the shape of the line, whether it is straight or curved.
• Solve equations that use advanced mathematics, such as calculus or differential equations.

READING SKILLS
• Locate answers to questions by combining information from several articles or books.
• Identify the implied relationships in memos or instructions, even if the relationships are not clearly stated.
• Draw conclusions about people, ideas, things, or tasks by combining information from several documents.
• Read and interpret lengthy reports, documents, or manuals.
• Learn new concepts through reading manuals, books, or other documents.

SCIENCE SKILLS
• Understand the implications of complex data that you or others collect.
• Predict how the results would change if a process for collecting data where changed.
• Compare or combine data from different sources, such as simple graphs or tables.
• Estimate a value for an event that falls between the values provided on a graph or in a table.
• Compare simple theories or models and decide which one best explains several sets of observed events.
• When using a simple model, decide if new data fits the model or indicates a problem.
• Understand and use work-related scientific terminology.

The average WorkKeys skill levels needed for an Accountant/Auditor are:
• READING FOR INFORMATION (level 5)
Read moderately long descriptions with jargon, technical terms, and conditionals, and apply to similar but not identical situations.
• APPLIED MATHEMATICS (level 6)
Selectively use information to set up and solve multi-step problems using a mixture of whole numbers, fractions, decimals, or percentages.
• LISTENING (level 3)
Correctly write down most of the primary information from a message.
• WRITING (level 4)
Write clear messages that contain few minor mechanical errors.
• LOCATING INFORMATION (level 5)
Use complex graphics such as detailed forms, instrument gauges, multivariable graphs, and diagrams to find trends or summarize information from more than one source.
• TEAMWORK (level 3)
Recognize positive behaviors needed to identify and support a clear team goal in a simple work situation.
• OBSERVATION (level 4)
Select and attend to important details of tasks with a small number of steps and ignore a few extra details.

Estimated Outlook (from the U.S. Bureau of Labor Statistics):
• Number of Workers (surveyed in 2006)

	National	Kansas
Number in this category	1,078,540	10,820
Average size of occupational catergories	50,000	2,000

• Employment Outlook (economic projections made in 2004)*

Projected growth per year	2.13%
Average growth for all occupations	1.3%
Number of new jobs per year	23,000

This category is:
• Very Large (750,000 or larger)
• Expected to Grow Moderately (1.2% to 2.4% growth)

As the economy grows, businesses will require accountants to prepare tax returns and financial statements, and organize financial operations.

What Workers Say They Like and Dislike

Some ACCOUNTANTS/AUDITORS may like:
• working with people
• working on different projects at one time
• good advancement opportunities
• good salaries and working conditions
• being able to specialize in an area of interest
• travel opportunities

Some ACCOUNTANTS/AUDITORS may dislike:
• working long hours during tax season, or an audit
• working long hours during the annual reporting period, and at the end of the business year
• often working under deadline pressure