What is Accountants and Auditors

The career as Accountants or Auditors are one of the most sought after job in Malaysia. However learning the knowledge and the skills of accounting and auditor requires a great deals of efforts, time and money.

Not to discourage you, the career as Accountants or Auditors are also one of the most rewarding career as well as the most sought after skills in the industry. Flip open your daily local newspapers and most of the jobs vacancies that are being advertised most of the time are for accountancy graduates or for the  people who have the knowledge, skill and working experiences in this field.

We have been asked many questions regarding Accountants and Auditors. We found one great article which could explains in great details about these two career opportunity.

Hopefully after reading through to the last paragraph, you will have some idea about what is Accountant and Auditor and what are the jobs opportinities associated with it.

Accountants and auditors should have an aptitude for mathematics and be able to analyze, compare, and interpret facts and figures quickly. They must be able to clearly communicate the results of their work to clients and managers both verbally and in writing.

In addition, they must be good at working with people, business systems, and computers. Because financial decisions are made on the basis of their statements and services, accountants and auditors should have high standards of integrity.

Accountants provide the data required to assess the present and future economic activities of individuals, businesses, not-for-profit organizations, and governmental bodies.

Accountants and auditors help to ensure that companies are run efficiently, its public records kept accurately, and its taxes paid properly and on time. They prepare, analyze, and verify financial documents in order to provide information to clients. They also calculate computing costs and efficiency gains for new technologies, participate in the set up for acquisitions and mergers, and develop IT systems to track financial performance, tax strategy, and employee benefits management.

Specific job duties vary widely among the four major fields of accounting and auditing: public, management, government accounting, and internal auditing.

Public accountants perform services such as accounting, auditing, tax, and consulting activities for their clients which may be corporations, governments, nonprofit organizations, or individuals. Many public accountants are Certified Public Accountants (CPAs) and generally have their own businesses or work for public accounting firms.

Management accountants record and analyze the financial information of the companies for which they work and are also called cost, managerial, industrial, corporate, or private accountants. They also carry out budgeting, performance evaluation, cost management, and asset management. Within accounting departments, management accountants may work in various areas, including financial analysis, planning and budgeting, and cost accounting.

Government accountants and auditors work in the public sector, maintaining and examining the records of government agencies and auditing private businesses and individuals whose activities are subject to government regulations or taxation.

Internal auditors examine and evaluate financial and information systems, management procedures, and internal controls of companies to ensure that records are accurate and controls are adequate. It is also their responsibility to verify the effectiveness of their organization’s internal controls and check for mismanagement, waste, or fraud. This includes reviewing company operations, evaluating their efficiency, effectiveness, and compliance with corporate policies and government regulations.

Employment and places of work
Most accountants and auditors work in a typical office setting while some may be able to do part of their work at home. Accountants and auditors employed by public accounting firms, government agencies, and organizations with multiple locations may travel frequently to perform audits at branches, clients’ premises, or government facilities.

Areas Covered by Programmes
Most accountants and auditors need at least a bachelor’s degree in business, accounting, or a related field. Many accountants and auditors choose to obtain certification to help advance their careers, such as becoming a Certified Public Accountant (CPA).

Other professional qualifications include those awarded by CIMA (The Chartered Institute of Management Accountants), MICPA (The Malaysian Institute of Certified Public Accountants), CPA Australia (Australian Society of CPAs) and ACCA (The Association of Chartered Certified Accountants).

Students pursuing a bachelor’s degree in accounting can expect to study subjects like Financial Accounting, Cost & Management Accounting, Auditing, Financial Management, Management Accounting, Taxation, Information Systems, Corporate Finance, Financial Risk Management, Statistics and Financial Planning.

Source: StudyMalaysia.com