Accounts and Auditors (CPA)
Accountants and auditors and (CPA's) Certified Public Accounts, help to ensure that the Nation's firms are run more efficiently, its public records kept more accurately, and its taxes paid properly and on time. They perform these vital accounting functions by offering an increasingly wide array of business and accounting services to their clients. These services include public accounts, management accountants, and government accounting, as well as internal auditing. However, accountants and auditors are broadening the services as they now offer to include budget analysis, financial and investment planning, information technology consulting, and limited legal services.

Beyond the fundamental tasks of the accounting occupation preparing, analyzing, and verifying financial documents in order to provide information to clients, many accountants now are required to possess a wide range of knowledge and skills.

Specific job duties for accountants vary widely among the four major fields of accounting. Public accountants perform a broad range of accounting, auditing, tax, and consulting activities for their clients, who may be corporations, governments, nonprofit organizations, or individuals. For example, some public accountants concentrate on tax matters, such as advising companies of the tax advantages and disadvantages of certain business decisions and preparing individual income tax returns. Others are accounting consultants who offer advice in areas such as; compensation or employee healthcare benefits, the design of accounting and data-processing systems, and the selection of controls to safeguard assets.

Some specialize in forensic accounting, investigating and interpreting bankruptcies and other complex financial accounting transactions. Still other accountants audit clients financial statements and report to investors and authorities that the statements have been correctly prepared and reported. Public accountants, many of whom are Certified Public Accountants (CPAs), generally have their own businesses or work for public accounting firms.

Management accountants also called industrial accountants, corporate accountants, or private accountants record and analyze the financial information of the companies for which they work. Other responsibilities include budgeting, performance evaluation, cost management, and asset management. Usually, management accountants are part of executive teams involved in strategic planning or new-product development. They analyze and interpret the financial information that corporate executives need to make sound business decisions. They also prepare financial reports for non-management groups, including stockholders, creditors, regulatory agencies, and tax authorities. Within accounting departments, they may work in various areas including financial analysis, planning and budgeting, and cost accounting.

Many persons with an accounting background work in the public sector. Government accountants and auditors maintain and examine the records of government agencies and audit private businesses and individuals whose activities are subject to government regulations or taxation.

Accountants employed by Federal, State, and local governments guarantee that revenues are received and expenditures are made in accordance with laws and regulations. Those who are employed by the Federal Government may work as Internal Revenue Service agents (IRS) or in financial management, financial institution examination, or budget analysis and administration.

Internal auditing is an increasingly important area of accounting and auditing. Internal auditors verify the accuracy of their organization's records and check for mismanagement, waste, or fraud. Specifically, they examine and evaluate their firms' financial and information systems, management procedures, and internal controls to ensure that records are accurate and controls are adequate to protect against fraud and waste. They also review company operations evaluating their efficiency, effectiveness, and compliance with corporate policies and procedures, laws, and government regulations.

There are many types of highly specialized auditors, such as electronic data processing, environmental, engineering, legal, insurance premium, bank, and healthcare auditors. As online computer systems make information more timely, internal auditors help managers to base their decisions on actual data, rather than personal observation. Internal auditors also may recommend controls for their organization's computer system to ensure the reliability of the system and the integrity of the data.

Computers are rapidly changing the nature of the work for most accountants and auditors. With the aid of special software packages, accountants summarize transactions in standard formats for financial records and organize data in special formats for financial analysis. These accounting packages greatly reduce the amount of tedious manual work associated with data management and record-keeping.

Personal and laptop computers enable accountants and auditors to be more mobile and to use their clients computer systems to extract information from large mainframe computers. As a result, a growing number of accountants and auditors have extensive computer skills and specialize in correcting problems with software or in developing software to meet unique data management and analytical needs. Accountants also are beginning to perform more technical duties, such as implementing, controlling, and auditing systems and networks, and developing technology plans and budgets.

Accountants also are increasingly assuming the role of a personal financial advisor. They not only provide clients with accounting and tax help, but also help them develop a personal budget, manage assets and investments, plan for retirement, and recognize and reduce exposure to risks. This role is a response to demands by clients for one trustworthy individual or firm to meet all of their financial needs.

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