Accountants And Auditors: If You Are Passionate about Facts and Figures, The Right Choice Is To Become An Accountant and Auditor!
Accountants and Auditors prepare and examine financial records. Their role is to ensure that financial records are accurate and taxes are paid properly and on time. They are the backbone of financial operations and help to run the organisation smoothly and efficiently.
Why Accountants and Auditors are called the backbone of an organisation?
Accountants and auditors examine financial statements to ensure that they are accurate and comply with laws and regulations. It is their duty to compute taxes owed, prepare tax returns, and ensure that taxes are paid properly and on time. They inspect account books and accounting systems for efficiency.
Organising and maintaining financial records, assessing financial operations and making best-practices recommendations to management are necessary for running an organisation smoothly. They suggest ways to reduce costs, enhance revenues and improve profits. In addition to examining and preparing financial documentation, accountants and auditors must explain their findings. This includes preparing written reports and meeting face-to-face with organization managers and individual clients.
Qualities needed for Accountants and Auditors
Analytical skills. Accountants and auditors must be able to identify issues in documentation and suggest solutions.
Communication skills. Accountants and auditors must be able to listen carefully to facts and concerns from clients, managers, and others. They must also be able to discuss the results of their work in both meetings and written reports.
Detail oriented : Accountants and auditors must pay attention to detail when compiling and examining documentation.
Math skills to analyse, compare, and interpret facts and figures.
Organizational skills are important as they work with a range of financial documents for a variety of clients.
Employment of accountants and auditors is projected to grow 6 percent over the 10 years, about as fast as the average for all occupations. As the economy grows, the need to prepare and examine financial records also increases. In addition, as more companies go public, there will be greater need for public accountants to handle the legally required financial documentation. The continued globalization of business may lead to increased demand for accounting expertise and services related to international trade and international mergers and acquisitions.
How to become an Accountant and Auditor?
A bachelor's degree in accounting or a related field is mandatory. Certification within a specific field of accounting will add and improve the value of candidates and make them stand out from the crowd. For example, many accountants become Certified Public Accountants. Some employers prefer a master's degree, either in accounting or in business administration with a concentration in accounting. Certification provides an advantage in the job market because it shows professional competence in a specialized field of accounting and auditing. A few universities and colleges offer specialized programs, such as a bachelor's degree in internal auditing.