Introduction
Accounting is loosely defined as the action of keeping accounts that are financial in nature. Careers in accounting are numerous. They include auditors, accountants, Bookkeepers and Management Trainees.
Auditors are people with extensive knowledge in accounting. They are tasked with examining and analyzing the financial records of companies. Auditors are individuals who ensure that financial records are accurate and that remittance of taxes is done accordingly and in time. They are people who calculate the taxes that companies owe the Revenue Authorities. The auditors are individuals who suggest ways and mechanism of cost reduction and organize the financial records as well as maintaining those ("Accountants and Auditors: Occupational Outlook Handbook: U.S. Bureau of Labor Statistics", 2017).
There are also people called the Bookkeepers. They have a wealth of knowledge on accounting. They are responsible for maintaining financial records for the enterprises in which they work. The bookkeepers also keep a record of the transactions that have been carried out and ensure the transactions are as accurate as possible. He does budget analysis for institutions regulate the expenditures of such institutions ("CPA Career Paths - AICPA", 2017).
Accounting also lead to financial managers. They are also widely referred to as Management Consultants. They work to improve the efficiency of the organizations they work in and ensure profitability for such organizations. They also aim at profit maximization and the overall cost reduction. Other careers in accounting include lecturing, Revenue Agency, and personal financial advisors. Financial forensics is also an exciting area of accounting career path.
The Essential skills of an Auditor
Auditors are individuals with the mandate to ensure accurate financial records in any organization and follow up on the payment of taxes. They are also taxed with the responsibility of implementing cost reduction strategies to the organization and ensure profit maximization. They must have great organizational skills so that they may effectively multi-task. They must fulfill this duty with the expertise to ascertain the organization performs. Auditors must be excellent problem solvers carry out their duties with precision and diligently. They must be able to provide sound judgment of issues. All auditors, internal and external must be excellent at communication. They must possess great communication strategies and have innovation mindset. They must use the audit software to carry out their duties and produce impressive results. The auditors must combine their character of being innovative with the necessary technological background to yield impressive results in the organization in which they work. Auditors must possess the thirst for knowledge. They must always be willing to learn new ideas and implement the ideas. They must have a clear understanding of the business acumen so that they may be able to make sound judgments if need be. Auditors are, therefore, required to have a remarkable skill in IT which must always be blended with the audit skills to strengthen the backbone of the business.
How auditors add value to the Organizations In which the work.
Auditors are experts who play an integral role in the growth and stability of any enterprise. They analyze, examine and maintain the financial records of the companies. If they are efficient and highly qualified, they forecast the profits and future expenditure of the business units in which they operate. The auditors are necessary for the computation of the amount of taxes to be paid ("Top 5 Traits of Successful Audit and Compliance Professionals | CareersinAudit.com", 2017). They work towards cost reduction and profit maximization by generating financial reports that are submitted to the shareholders. Auditors ensure that the investments done by the business are indeed viable.
References
Accountants and Auditors : Occupational Outlook Handbook: : U.S. Bureau of Labor Statistics. (2017). Bls.gov. Retrieved 19 January 2017, from https://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm#tab-8
CPA Career Paths - AICPA. (2017). Aicpa.org. Retrieved 19 January 2017, from http://www.aicpa.org/Career/CareerPaths/Pages/CareerPaths.aspx
Top 5 Traits of Successful Audit and Compliance Professionals | CareersinAudit.com. (2017). CareersinAudit.com. Retrieved 19 January 2017, from http://www.careersinaudit.com/article/top-5-traits-of-successful-audit-and-compliance-professionals/
