Accountant and Auditor Career Outlook
Employment of accountants and auditors is expected to grow faster than the average through 2014, according to the U.S. Department of Labor. This is due to business growth, changing tax and finance laws, and increased scrutiny of financial practices across all businesses. There have been several notable scandals in the accounting industry in recent years, and this accounts for much of the increased scrutiny and changing legislation in this industry.
As firms specialize their services, accountants will need to follow suit. Firms will seek out accountants with experience in marketing and proficiency in computer systems to build management consulting practices. As trade increases, so will the demand for CPAs with international specialties and foreign language skills. CPAs with an engineering degree would be well equipped to specialize in environmental accounting. Other accounting specialties that will enjoy good prospects include assurance, forensic, and tax accounting.
The number of CPAs dropped off a bit after most states embraced the 150-hour standard for CPA education. However, numbers are once again starting to rise as students realize the many opportunities this industry holds, especially in the wake of recent accounting scandals. CPAs with valid licenses should experience favorable job prospects for the foreseeable future. Pursuing advanced degrees and certifications will also greatly increase one’s chances of finding employment.
Accounting jobs are more secure than most during economic downswings. Despite fluctuations in the nation’s economy, there will always be a need to manage financial information, especially as the number, size, and complexity of business transactions increases. However, competition for jobs will remain, certification requirements will become more rigorous, and accountants and auditors with the highest degrees will be the most competitive.
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For More Information:
- Accreditation Council for Accountancy and Taxation
- American Institute of Certified Public Accountants
- Association to Advance Collegiate Schools of Business