Accounting, Auditing & Finance industry guide

  Overview
  Education and training
  Job role
  Prospects
  Personal attributes
  Further info

Accounting
Accountancy is not the most glamourous of careers, but it is a modern and fast-moving industry using the latest technologies and attracting some of the most dynamic, motivated and intelligent graduates from a wide variety of academic backgrounds. Employed by almost all businesses, Chartered Accountants are front-line expert business advisers from large multinationals to small owner-managed businesses.Trainee accountants generally complete a recognised qualification in chartered accountancy, provided by institutions such as CIPFA (the Chartered Institute of Public Finance and Accountancy), ACCA (the Association of Chartered Certified Accountants) and ICAEW (the Institute of Chartered Accountants in England and Wales), or ICAS (Institute of Chartered Accountants in Scotland). These provide an excellent foundation for a career in a number of business areas.

The broad range of experience gained as a trainee provides a valuable insight into the internal operations of many different types of business. This experience, combined with the technical expertise mastered through completing the exams and continual professional education means that newly qualified CAs are in high demand. Similarly, the CIMA (Chartered Institute of Management Accountants) qualification is held in high regard, covering a wider range of non-financial subjects, with more emphasis on the management and strategic side.

The number of opportunities to work overseas is testament to the recognition the qualifications enjoy world-wide.

Auditing
Financial auditing is a job renowned for its long hours, hard work and high rewards. You’ll needing a keen eye for detail, a sharp understanding for stats and figures and meticulous work practices. There are two main types of auditing within major corporations: internal and external audits.

Internal auditors are normally ongoing procedures ensuring companies are running efficiently and within tax laws and fulfilling shareholders wishes. By examining their records they can also protect the company against fraud and other illegal activity. They also help a company to grow by examining internal processes’ ensuring that finances are run as productively as possible.

With external audits there is a lot more flexibility and room for manoeuvre for the candidate. Working either in consultancy or in government taxation roles there are many opportunities to travel and the job is kept fresh by working at different companies evaluating their financial performances and reporting back fulfilling similar actions as internal auditors but for different purposes.

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