Related job titles are: Auditor, Internal Auditor, Auditor-in-Charge, Assurance Manager, Audit Manager, Internal Audit Director, Assurance Senior, Audit Partner, Deputy for Audit, or Financial Auditor.
How Much Does an Accountant and Auditor Make? | Accountant and Auditor Salary
The median yearly salary for accountants and auditors was $61,690 in May 2010 (the most recent data available). This median salary is simply the salary where half the employees earned more and half earned a lesser amount. Employees in the lower 10 percent had an annual salary less than $38,940 and those employees in the top 10 percent earned greater then $106,880. Most accountants and auditors work full time. In 2010, one in five worked more than 40 hours per week. Longer hours are typical at certain times of the year, such as at the end of the budget year or during tax season.
What Does an Accountant and Auditor Do? | Job Description
Accountant is one of U.S. News and World Report "100 Best Jobs of 2013." Accountants and auditors prepare and examine financial records. They ensure that financial records are accurate and that taxes are paid properly and on time. Accountants and auditors assess financial operations and work to help ensure that organizations run efficiently.
In addition to examining and preparing financial documentation, accountants and auditors must explain their findings. This includes face-to-face meetings with organization managers and individual clients, and preparing written reports.
Beginning public accountants often advance to positions with more responsibility in 1 or 2 years and to senior positions within another few years. Those who excel may become supervisors, managers, or partners; open their own public accounting firm; or transfer to executive positions in management accounting or internal auditing in private firms.
How to Become an Accountant and Auditor?
Most accountant and auditor positions require at least a bachelor's degree in accounting or a related field. Some employers prefer to hire applicants who have a master's degree, either in accounting or in business administration with a concentration in accounting.
Accountant and Auditor Classes and Courses | Degree Programs
A few universities and colleges offer specialized programs, such as a bachelor’s degree in internal auditing. In some cases, graduates of community colleges, as well as bookkeepers and accounting clerks who meet the education and experience requirements set by their employers, get junior accounting positions and advance to accountant positions by showing their accounting skills on the job.
Accountant and Auditor Jobs | Who is Hiring?
Employment of accountants and auditors is expected to grow 16 percent from 2010 to 2020, about as fast as the average for all occupations. There has been an increased focus on accounting in response to corporate scandals and recent financial crises. Stricter laws and regulations, particularly in the financial sector, will likely increase the demand for accounting services as organizations seek to comply with new standards. Additionally, tighter lending standards are expected to increase the importance of audits, as this is a key way for organizations to demonstrate their creditworthiness.
The continued globalization of business should lead to more demand for accounting expertise and services related to international trade and international mergers and acquisitions.
Accountants and auditors who have earned professional recognition, especially as a Certified Public Accountants (CPA), should have the best prospects. Job applicants who have a master's degree in accounting or a master's degree in business with a concentration in accounting also may have an advantage.
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