Accountants and Auditors

Working Schedule

• Accountants and Auditors work full time, with overtime required during certain periods. In particular, end-of-year actions and tax season can be critical times demanding longer-than-average hours as the workload increases. Unexpected sales slumps or economic factors drive schedules in times of urgency.

Typical Duties

• Develop operating budgets and projections
• Analyze accounting figures to look for problem areas and discrepancies
• Examine trends, revenue, expenses, and other factors when making projections for decision-makers
• Compare and contrast actual costs versus projected ones
• Review financial statements for accuracy; document and report findings
• Ensure compliance with state and federal laws and guidelines
• Serve as a liaison with external agencies such as the IRS
• Prepare complex tax filings and advise leadership on tax matters 
• Consult with organizational members on tax implications for certain actions
• Establish organized records management and accounting systems and practices
• Consider resource management issues that impact the organization’s finances

Additional Responsibilities

• Perform thorough audits on a routine basis to review accuracy of figures
• Report problems to management and external agencies when required
• Work with various elements within an organization to ensure funding for their needs
• Travel to work sites, sometimes outside the local area, to conduct observations and meet managers or other analysts

Soft Skills

• Integrity
• Critical thinking
• Good oral and written communication skills
• Sharp attention-to-detail
• Analytical problem solving
• Deductive reasoning 
• Good vision for reading 
• Highly organized
• Independent
• Compliance-oriented
• Desire to improve processes
• Sound judgment and decision-making  
• Able to advise and instruct others through verbal and written guidance
• Planning and organization skills

 
Technical Skills

• Knowledge of current accounting and tax software programs, as well as business intelligence and data analysis software
• Familiarity with compliance software tools, databases, query software, and document management systems
• Ability to use enterprise resource planning and financial analysis technology
• Strong math and accounting skills 

• Corporations
• Non-profits
• Higher education institutions
• Governmental agencies
• Accounting firms
• Tax preparation and bookkeeping businesses
• Payroll services
• Finance and insurance companies
• Self-employment

Money is at the core of any enterprise. Without sound financial management, no organization can succeed. That is why Accountants and Auditors are critical players in any business or entity they are servicing, with much expected of them.
 
Working in collaboration with management and leadership, workers in this field are relied upon to ensure budgets are accurate and funds are allocated where needed. They’re responsible for forecasting expenses, finding problems, and offering solutions to get things back on track quickly. 
 
Accountants and Auditors help their employers’ businesses operate efficiently to maximize profits. A large part of that endeavor requires tax expertise, so workers must stay constantly updated on tax policies and changes. They should be ready to offer aid when problems occur, such as external audits, the discovery of embezzlement, a public relations incident impacting sales, or an unexpected drop in production due to worker injury or damaged equipment. There’s no end to the issues that can impact a company’s bottom line at any moment. Thus there’s constant pressure on the financial team to manage risk and have contingency plans ready to roll. Travel, late meetings, and overtime may be required. 

The Bureau of Labor Statistics predicts three specific factors will continue to impact this field in the coming years — the economy, globalization, and advances in technology. 2020 saw dire blows dealt to economies around the world. As businesses have struggled to keep employees on the payroll while revenue plummeted, accountants have been put to the test. To prepare for future disasters, they’ll undoubtedly be tasked to come up with contingency plans that include more integration of technology to deliver services and products via online platforms. 

Due to the nature of the work, Accountants and Auditors spend most of their days indoors, pouring over numbers and reports and attending meetings. O-Net Online lists this occupation as “conventional,” meaning workers are used to following routines, working with data, and operating under a clear hierarchy with a lot of structure. Persons in this field likely grew up in orderly homes or enjoyed engaging in activities that involved a high degree of solitude. They may not have liked change or disruptions, and so took care to plan for unexpected occurrences that might interfere with their well-organized activities. 
 
This career field does require social traits, as there are often meetings and presentations. However, for some, these are more of a necessity than something to look forward to. In their youth, Accountants may have exhibited competence with public speaking, but the limelight may not have been their preference. They may have been content diving into the details of whatever they’re working on rather than always interacting with others. There could also have been a tendency to focus on following rules, complying with written procedures, and paying mind to those in positions of authority.