Accountants and Auditors: Salary, career path, job outlook, education and more
- Education Required
- Most accountant and auditor positions require at least a bachelors degree in accounting or a related field. Some employers prefer to hire applicants who have a masters degree, either in accounting or in business administration with a concentration in accounting.
- Job Outlook
The projected percent change in employment from 2016 to 2026: 10% (Faster than average)
(The average growth rate for all occupations is 7 percent.)
- Some top executives and financial managers have a background in accounting, internal auditing, or finance.
- Every accountant filing a report with the Securities and Exchange Commission (SEC) is required by law to be a Certified Public Accountant (CPA). Many other accountants choose to become a CPA to enhance their job prospects or to gain clients. Many employers will pay the costs associated with the CPA exam.
- Median pay: How much do Accountants and Auditors make?
- $68,150 Annual Salary
- $32.76 per hour
Accountants and auditors prepare and examine financial records. They ensure that financial records are accurate and that taxes are paid properly and on time. Accountants and auditors assess financial operations and work to help ensure that organizations run efficiently.
What do Accountants and Auditors do?
Accountants and auditors typically do the following:
- Examine financial statements to ensure that they are accurate and comply with laws and regulations
- Compute taxes owed, prepare tax returns, and ensure that taxes are paid properly and on time
- Inspect account books and accounting systems for efficiency and use of accepted accounting procedures
- Organize and maintain financial records
- Assess financial operations and make best-practices recommendations to management
- Suggest ways to reduce costs, enhance revenues, and improve profits
In addition to examining and preparing financial documentation, accountants and auditors must explain their findings. This includes preparing written reports and meeting face-to-face with organization managers and individual clients.
Many accountants and auditors specialize, depending on the particular organization that they work for. Some work for organizations that specialize in assurance services (improving the quality or context of information for decisionmakers) or risk management (determining the probability of a misstatement on financial documentation). Other organizations specialize in specific industries, such as healthcare.
The following are examples of types of accountants and auditors:
Careers for Accountants and Auditors
- Account auditors
- Certified public accountants
- Compliance auditors
- Corporate accountants
- Cost accountants
- Environmental auditors
- External auditors
- Field auditors
- Financial accountants
- Financial auditors
- Forensic accountants
- Fund accountants
- Government accountants
- Government accountants and auditors
- Industrial accountants
- Information technology auditors
- Internal auditors
- Management accountants
- Payroll auditors
- Private accountants
- Public accountants
- Tax accountants