Guide 2 Careers Series: Accountants and Auditors

In conjunction to our Employment Guide to Careers and the help of the Department of Labor Career Guide, I'll be doing a blog post series on different careers that are popular on EmploymentGuide.com. This hopefully will give you insight as to what a particular job will entail, the types of qualifications and skills that you'll need to get the job and any other relevant information. Please feel free to comment or email suggestions as to what you'd like to see in this series.

Financial and Business Jobs: Accountants and Auditors

On the Job
Accountants and auditors help to ensure that the Nation’s firms are run efficiently, its public records kept accurately, and its taxes paid properly and on time. They analyze and communicate financial information for various entities such as companies, individual clients, and government. Beyond carrying out the fundamental tasks of the occupation—preparing, analyzing, and verifying financial documents in order to provide information to clients—many accountants also offer budget analysis, financial and investment planning, information technology consulting, and limited legal services.

Specific job duties vary widely among the four major fields of accounting and auditing: public, management, government accounting, and internal auditing.

Benefits and Salary
According to a 2007 salary survey conducted by Robert Half International, a staffing services firm specializing in accounting and finance, general accountants and internal auditors with up to 1 year of experience earned between $31,500 and $48,250 a year. Those with 1 to 3 years of experience earned between $36,000 and $60,000. Senior accountants and auditors earned between $43,250 and $79,250, managers between $51,250 and $101,500, and directors of accounting and internal auditing between $68,000 and $208,000. The variation in salaries reflects differences in size of firm, location, level of education, and professional credentials.

Wage and salary accountants and auditors usually receive standard benefits, including health and medical insurance, life insurance, a 401(k) plan, and paid annual leave. High-level senior accountants may receive additional benefits, such as the use of a company car and an expense account.

Daily Routine & Work Environment
Most accountants and auditors work in a typical office setting. Some may be able to do part of their work at home. Accountants and auditors employed by public accounting firms, government agencies, and organizations with multiple locations may travel frequently to perform audits at branches, clients’ places of business, or government facilities.

Most accountants and auditors usually work a standard 40-hour week, but many work longer hours, particularly if they are self-employed and have numerous clients. Tax specialists often work long hours during the tax season.

Experience & Required Education
Most accountant and auditor positions require at least a bachelor’s degree in accounting or a related field. Beginning accounting and auditing positions in the Federal Government, for example, usually require 4 years of college (including 24 semester hours in accounting or auditing) or an equivalent combination of education and experience. Some employers prefer applicants with a master’s degree in accounting, or with a master’s degree in business administration with a concentration in accounting. Some universities and colleges are now offering programs to prepare students to work in growing specialty professions such as internal auditing. Many professional associations offer continuing professional education courses, conferences, and seminars.

Read more about Accountants and Auditors.
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