|
| Types of Accountants and Auditors | Public Accountant
A wide range of clients use public accountants. Among them are businesses, governmental organizations, nonprofit organizations, and personal clients. People involved in this area usually get certification as a Certified Public Accountant (CPA). They may work independently or become a member of an accounting firm. Consulting on taxes, accounting, and auditing are the most common services provided by public accountants. They are able to help businesses in:
maximizing profits by advising them on taxation, suggesting tax deductible expenditures;
providing advice to help managements make better decisions;
evaluating employee benefits;
insurance; compensation;
developing programs for accounting or processing data;
safeguarding assets;
auditing financial information;
preparing statements for investors or officials to show that their financial activities have been properly conducted and reported.
The separate type of public accountants is forensic accountants that deal with criminal activities like fraud, embezzlement, legal disputes, money laundering, or bankruptcies. In addition to awareness of finance and accounting forensic accountant should be law-informed and possess investigation skills. They often work with law enforcement officers and attorneys and may be expert witnesses in courts of law.
Management Accountant
Generally working as a specialist in an executive team that makes major decisions about expanding production or strategic planning management accountant reports and analyzes financial data for corporations. They can be involved in:
- budgeting;
- maximizing expenditures and production;
- evaluating performance of personnel and equipment;
- drafting reports for outside interests like stockholders, banks, and authorities;
- strategic planning;
- budgeting;
- accounting for expenditures;
- analysis.
Government Accountants/Auditors
These accountants work for government agencies of all levels or regulated by the government corporations and individuals. The main duty of those who work directly for the government is to ensure that income and spending are appropriate and legal. Those who work for the IRS (Internal Revenue Service) may also provide other services like:
- investigation of financial institutions;
- analyzing budgets;
- administration;
- management of finances.
Internal Auditors
These auditors work for businesses or organizations. They should:
- check corporation’s records to ensure that they are correct;
- look for problems such as inefficiency or criminal activities;
- look at financial situations, information systems, management, and internal controls;
- look their corporation’s processes to assess efficiency, legality, appropriateness, and efficacy.
|
|
