Accountants and Auditors

Career summary

Accountants and auditors may be known as tax accountants, internal auditors, controllers, or information systems auditors.

Accountants often specialize in one of the four major fields of accounting:

• Public
• Management
• Government
• Internal auditing

All accountants and auditors must know the rules and regulations in their area. The rules change frequently. Accountants and auditors must regularly take training to keep their knowledge up to date.

Public accountants

Public accountants have their own businesses or work for accounting firms. Their clients are individuals or businesses. Public accountants provide accounting, auditing, tax, and consulting services. For example, they examine business operations such as revenues and costs. They go over financial records to make sure the information is correct. They may develop accounting systems for clients.

Management accountants

Management accountants work for corporations. These accountants work as part of their company's management team and help make decisions. They give the team advice about how certain financial changes may affect the company. They record and analyze the business's financial information. In addition, they create budgets, and manage costs and assets.

Government accountants

Government accountants maintain and examine the records of government agencies. They must follow special procedures and regulations. Accountants in this area may write reports for government officials. Government auditors check the tax records of businesses and individuals.

Internal auditing

Internal auditors generally work for a company. They check that the company's financial records are correct. They also check for waste or fraud, and help find ways to prevent financial loss.

Related careers

This career is part of the Finance cluster of careers.

Related careers include:

• Actuaries
• Bookkeeping and Accounting Clerks
• Budget Analysts
• Cost Estimators
• Credit Analysts
• Financial Analysts
• Financial Counselors
• Financial Examiners
• Financial Managers
• Forensic Accountants
• Insurance Underwriters
• Job Benefits and Analysis Specialists
• Tax Examiners
• Tax Preparers

Military careers

• Finance and Accounting Managers

Job duties

Task list

The following list of tasks is specific to accountants and auditors.

• Do research to learn accounting or auditing needs.
• Advise clients about their financial and tax needs.
• Develop accounting or auditing system for firm or agency.
• Determine how much tax is owed and prepare financial and tax statements.
• Analyze business operations, trends, revenues, and costs.
• Analyze financial data and records to be sure they follow legal and financial standards.
• Advise management and write reports about using resources, paying taxes, and budget forecasts.
• Enter financial information into recordkeeping and accounting systems.
• Create and maintain budgets based on previous year's financial data.
• Determine and record value of real property and equipment.
• Take training to keep skills up to date.

Common work activities

Accountants and auditors perform the following tasks. These tasks are common to many careers.

• Get information needed to do the job
• Use computers
• Communicate with supervisors, peers, or subordinates
• Evaluate information against standards
• Document and record information
• Process information
• Make decisions and solve problems
• Organize, plan, and prioritize work
• Establish and maintain relationships
• Analyze data or information
• Update and use job-related knowledge
• Communicate with people outside the organization
• Perform administrative tasks
• Identify objects, actions, and events
• Explain the meaning of information to others
• Teach others
• Coordinate the work and activities of others
• Monitor events, materials, and surroundings
• Develop and build teams
• Schedule work and activities
• Coach others
• Guide, direct, and motivate others
• Think creatively
• Provide advice and consultation to others
• Develop goals and strategies
• Resolve conflicts and negotiate with others
• Monitor and control resources
• Judge the value of objects, services, or people

Work requirements

Working conditions

In a typical work setting, accountants and auditors:

Interpersonal relationships

• Have a medium level of social contact. They work with customers, other accountants and auditors, and office staff. In general, auditors have more contact with customers than accountants do.
• Are somewhat responsible for the work done by others.
• Communicate via e-mail, telephone, and face-to-face discussions on a daily basis. They also write letters and memos.
• Usually work as part of a team.

Physical work conditions

• Mainly work indoors.

Work performance

• Must be exact in their work and be sure all details are done. Errors could cause clients to lose money.
• Repeat the same mental tasks.
• Plan most of their own tasks, priorities, and goals without talking with a supervisor.
• Make most decisions without talking with a supervisor. These decisions can greatly affect their clients.
• Work in a moderately competitive environment. Spring (tax season) is very busy.

Hours/travel

• May work over 50 hours per week, especially if self-employed.
• May work long hours from January to April, if specializing in tax preparation.
• May travel frequently to visit the offices of clients.

Physical demands

Accountants and auditors frequently:

• Sit for long periods of time.

It is important for accountants and auditors to be able to:

• See details of objects that are less than a few feet away.
• Understand the speech of another person.
• Speak clearly so listeners can understand.

It is not as important, but still necessary, for accountants and auditors to be able to:

• See details of objects that are more than a few feet away.
• See differences between colors, shades, and brightness.
• Hear sounds and recognize the difference between them.

Skills and abilities

Accountants and auditors need to:

Communicate

• Listen to others and ask questions.
• Understand written information.
• Speak clearly so listeners can understand.
• Read and understand work-related materials.
• Write clearly so other people can understand.
• Understand spoken information.

Reason and problem solve

• Use reasoning to discover answers to problems.
• Analyze ideas and use logic to determine their strengths and weaknesses.
• Notice when something is wrong or is likely to go wrong.
• Follow guidelines to arrange objects or actions in a certain order.
• Combine several pieces of information and draw conclusions.
• Judge the costs and benefits of a possible action.
• Recognize the nature of a problem.
• Understand new information or materials by studying and working with them.
• Develop rules that group items in various ways.
• Recognize when important changes happen or are likely to happen in a system.
• Concentrate and not be distracted while performing a task.
• Think of new ideas about a topic.
• Think of original, unusual, or creative ways to solve problems.

Use math and science

• Add, subtract, multiply, and divide quickly and correctly.
• Choose a mathematical method or formula to solve problems.
• Use math skills to solve problems.

Manage oneself, people, time, and things

• Check how well one is learning or doing something.
• Manage the time of self and others.

Work with people

• Persuade others to approach things differently.
• Change behavior in relation to others' actions.
• Be aware of others' reactions and understand the possible causes.
• Look for ways to help people.
• Solve problems by bringing others together to discuss differences.

Perceive and visualize

• Identify a pattern (a figure, object, word, or sound) that is hidden in distracting material.

Education and training

Educational programs

The programs of study listed below will help you prepare for the occupation or career cluster you are exploring.

Programs of study directly related to this occupation

• Accounting
• Financial Forensics and Fraud Investigation
• Taxation

Other programs of study to consider

• Business Management and Administration
• Business, General
• Entrepreneurial and Small Business Operations
• Finance
• International Business, Trade, and Finance
• Logistics and Materials Management
• Management Information Systems
• Management Sciences

Training

To work as an accountant or auditor, you typically need to:

• have a high school diploma or equivalent; and
• have a bachelor's degree in accounting.

To work as a certified public accountant (CPA), you typically need to:

• have a high school diploma or equivalent;
• complete a five-year, 150-credit hour accounting program (awards a bachelor's or master's degree);
• have public accounting experience; and
• pass the Uniform CPA Examination.

Education after high school

Depending on the type of accounting you want to do, you can study for two to five years. Two-year programs prepare you for bookkeeper jobs. These programs are available at community colleges and private business schools.

A bachelor's degree in accounting prepares you for entry-level accounting or auditing jobs. In your four years of study, you take one year of accounting courses and one year of general business courses. You also take two years of liberal arts courses. These programs are available at many colleges and universities.

If you want to be a CPA, you need to complete an additional 30 hours of study in accounting. The extra courses prepare you to take the Uniform CPA Exam and to work independently as a public accountant.

Work experience

While in college, you can gain experience through summer or part-time internship programs.

Beginning public accountants generally work for a licensed CPA for at least a year. They do this to gain the experience required for the CPA license.

On-the-job training

After college, you work on routine tasks and are supervised by experienced accountants or auditors. As you gain experience, you are given more difficult tasks and more responsibility. In general, a beginning accountant receives up to 12 months of on-the-job training. An auditor generally receives one to two years of on-the-job training.

Military training

Some branches of the military train people to be finance and accounting managers. Training lasts two to 16 weeks. Further training occurs on the job and through advanced courses. You must have a degree in accounting, finance, or a related field to enter this military occupation.

Helpful high school courses

In high school, take classes that prepare you for college. A college preparatory curriculum  may be different from your state's graduation requirements .

You should also consider taking some advanced courses in high school. This includes Advanced Placement (AP) and International Baccalaureate (IB) courses if they are available in your school. If you do well in these courses, you may receive college credit for them. Advanced courses can also strengthen your college application.

Helpful electives to take in high school that prepare you for this career include:

• Accounting
• Computer Applications
• Economics
• Entrepreneurship
• Introduction to Business

The courses listed above are meant to help you create your high school plan. If you have not already done so, talk to a school counselor or parent about the courses you are considering taking.

You should also check with a teacher or counselor to see if work-based learning opportunities are available in your school and community. These might include field trips, job shadowing, internships, and actual work experience. The goal of these activities is to help you connect your school experiences with real-life work.

Join some groups, try some hobbies, or volunteer with an organization that interests you. By participating in activities you can have fun, make new friends, and learn about yourself. Maybe one of them will help direct you to a future career. Here are examples of activities and groups  that may be available in your high school or community.

Things to know

Most employers require at least a bachelor's degree in accounting or a related field. Some employers prefer applicants who have a master's degree in accounting, or in business administration with an emphasis in accounting. Some employers also require work experience.

Employers prefer applicants who are familiar with computers and their applications in accounting or internal auditing. They also prefer people who can get along with others. Many employers emphasize communication and computer skills. Being a certified public accountant (CPA) is an advantage. Accountants and auditors must be honest because they work with other people's money.

Tips

Good interpersonal and leadership skills are critical to most jobs. Community involvement and volunteer projects can help develop these skills. Summer jobs such as night auditor at a motel or hotel can be helpful in both gaining related experience and providing insight into the type of work required of accountants and auditors. Any practical bookkeeping experience is helpful. It is also helpful to take the CPA exam right after you finish college while you are still experienced in taking tests.

Talk with as many accountants and auditors as you can to learn about what they do and how they got into the field. A great deal of experience and the ability to move into different specialty areas are necessary if you wish to start your own business. Knowledge of technological changes and the ability to use complex accounting systems and techniques is increasingly important. Accurate use of a ten-key calculator by touch is required for some jobs.

Costs to workers

Workers who join professional associations may have to pay annual dues.

Licensing/certification

Certified public accountants must be licensed by the Washington State Board of Accountancy. General licensing requirements are:

• being of good character (no history of dishonesty or felonious acts);
• having at least 150-semester hour credits of college education with 24-semester credit hours (36-quarter hours) in accounting subjects (with 15 credits at the upper or graduate level) and 24-semester credit hours in business administration subjects;
• a bachelor's or graduate degree from an accredited US college or university recognized by the Washington State Board of Accountancy;
• passing a CPA examination;
• passing a Board delivered ethics examination with a grade of 90% or better; and
• 120 hours of continuing education, including a Board approved ethics course, for renewal.

A public practice license requires one year (2,000 hours) of public, private, or governmental accounting experience.

There is an initial licensing application fee for accountants. The examination registration fees depend on how many and which sections of the exam are taken. In addition, each of the four examination sections has a fee. The Washington State Board of Accountancy  contracts with CPA Exam Services (CPAES) to process exam applications.

Both the certification renewal fee and the public practice license renewal fee are due every three years. Completion of continuing professional education courses is also required. Workers may need to pay for these classes, although sometimes they are covered by the employer.

For information on additional licensing requirements, contact:

Washington State Board of Accountancy 
PO Box 9131
Olympia, WA 98507-9131
360.753.2586

#Licensing info & fees ok, 1/25/16 cj. Checked licensing section 1/29/18; no changes, cj. Board is not very transparent about fees so deleted, updated urls. 4/15/19 lh

Job listings

Listed below are links to job categories from the National Labor Exchange that relate to this career. Once you get a list of jobs, you can view information about individual jobs and find out how to apply. If your job search finds too many openings, or if you wish to search for jobs outside of Washington, you will need to refine your search.

• Accountants 
• Auditors 

To get a listing of current jobs from the WorkSource system, go to the WorkSource website .

Wages

Pay varies with the employer's size, location, and type. For accountants, pay can vary by the time of year. Many accountants earn extra money by working overtime during the tax season. Pay also depends on the worker's education, experience, and responsibility. Partners and owners of firms earn more than their employees do.

Accountants and auditors who work full time usually receive benefits. Common benefits include paid vacation, health and dental insurance, and a retirement plan.

Employment and outlook

Washington employment

According to licensing information from the State of Washington at the time this career was updated, there are 19,249 individuals licensed to practice public accounting in Washington.

#https://cpaboard.wa.gov/consumer-protection/our-current-credentialed-population-consists 

# Updated licensing # from link noted above 1/25/16, 1/29/18 cj. 4/15/19 lh  (3/31/19 data)

Washington outlook

The outlook depends on expansion of business, stability of the economy, and greater use of accounting and auditing services by public and private enterprises. Managers are relying more on accounting information to make business decisions, especially with changing tax laws. Many accountants are becoming advisors to management or consultants for clients.

The table below provides information about the number of workers in this career in various regions. It also provides information about the expected growth rate and future job openings.

National employment

Most accountants and auditors work in urban areas where accounting firms and central or regional offices of businesses are concentrated.

Major employers:

• Accounting, tax preparation, bookkeeping, and payroll firms
• Finance and insurance
• State and local government agencies

Common titles for accountants are Certified Public Accountant (CPA), Public Accountant (PA), Registered Public Accountant (RPA), or Accounting Practitioner (AP).

National outlook

Growth in this occupation is closely tied with growth in the economy. Stricter laws and regulations as a result of the financial crisis in 2008 has increased demand for accountants as organizations try to comply with new laws. In addition, stricter loan standards will increase the demand for auditors.

A large number of global businesses will need accountants with knowledge in areas such as international trade, mergers, and rules.

Accountants and auditors are expected to have good job prospects. CPAs will enjoy the widest range of job opportunities as well as those with a master's degree in accounting or business administration with a concentration in accounting.

Other resources

American Academy of Financial Management 
1670 F East Cheyenne Mtn Blvd
Colorado Springs, CO 80906

American Accounting Association 
9009 Town Center Parkway
Lakewood Ranch, FL 34202
941.921.7747

American Institute of Certified Public Accountants 
1345 Avenue of the Americas
27th floor
New York, NY 10105
212.596.6200

American Institute of Certified Public Accountants career information 

Association of Government Accountants 
2208 Mount Vernon Avenue
Alexandria, VA 22301
800.242.7211
703.684.6931

Careers in the Military 

eFinancialCareers 

Information Systems Audit and Control Association 
847.253.1545

Institute of Financial Operations 
149 Terra Mango Loop, Suite B
Orlando, FL 32835
877.885.4277
407.351.3322

Institute of Management Accountants 
10 Paragon Drive, Suite 1
Montvale, NJ 07645
800.638.4427
201.573.9000

National Association of Enrolled Agents 
1730 Rhode Island Avenue, NW, Suite 400
Washington, DC 20036-3953

National Association of Tax Professionals 
PO Box 8002
Appleton, WI 54912-8002
800.558.3402

National Society of Accountants 
1330 Braddock Place, Suite 540
Alexandria, VA 22314
800.966.6679
703.549.6400

Showbizjobs.com 

The Institute of Internal Auditors 
1035 Greenwood Blvd., Suite 401
Lake Mary, FL 32746 USA
407.937.1111

US Small Business Administration 
Seattle District Office
2401 Fourth Avenue, Suite 450
Seattle, WA 98121
206.553.7310

Washington Association of County Officials 
206 - 10th Avenue SE
Olympia, WA 98501
360.753.7319

Washington Society of Certified Public Accountants 
902 - 140th Avenue NE
Bellevue, WA 98005
425.644.4800

References

Career cluster

• Finance

Career path

• Conventional (Business Operations)

O*Net  occupations

• Accountants (13-2011.01) 
• Auditors (13-2011.02) 

O*Net job zone 

• Job Zone 4 - Considerable preparation needed. A minimum of two to four years of work-related skill, knowledge, or experience is needed for these occupations.

DOT occupations

• Accountant (160.162-018) 
• Accountant, Budget (160.162-022) 
• Accountant, Cost (160.162-026) 
• Accountant, Property (160.167-022) 
• Accountant, Systems (160.167-026) 
• Accountant, Tax (160.162-010) 
• Auditor (160.167-054) 
• Auditor, County or City (160.167-030) 
• Auditor, Internal (160.167-034) 
• Auditor, Tax (160.167-038) 
• Bursar (160.167-042) 
• Director, Utility Accounts (160.267-014) 

Strong Interest Inventory

• Accountant

Holland occupational cluster

• Conventional/Enterprising/Investigative

COPSystem

• Business Professional
• Business Skilled