A four-year degree is required. A quick search reveals exceptional accounting programs available in major universities across the country. Unlike fields such as engineering or even the medical field, which have only a handful of preferred schools, the best accounting graduates can be found across the country with many different educational backgrounds and scholastic achievements. Incomes these job candidates are seeking are most often met with little negotiation from potential employers since the growth is expected to be more than any other field through the year 2016. Demand is expected to continue to rise.
More companies are willing to take the best candidates and invest in training them in order to keep that new talent. With new scandals that seem to appear each week, especially with white-collar crime, those most dedicated to the legalities and who have a keen sense of both responsibility and attention to detail are the most sought-after candidates. It’s becoming increasingly important to remain current with new laws and even legislation which is currently being written and reviewed in the country’s highest courts. In this ever-changing climate, companies are beginning to realize the importance of staying current and the repercussions for those who fall behind on new guidelines set forth by the legal, auditing, and accounting communities. Some of the most sought-after skills include:
Payroll Coordinators
With more companies looking to outside data processing companies to oversee payroll issues, these employees act as the go-between for the company and the information system department. Their role is to ensure a steady flow of accurate information and implementation of the payroll system itself. They remain current with system changes, requests, and recommendations from both upper management and sub-contractors. Automated payroll systems experience is usually required and an in-depth understanding of taxes, unemployment, workmen’s compensation, and other employee pay-related issues are required. Further, the payroll coordinator can also either design or oversee the design of a payroll program and ensure it is implemented according to the company’s needs and auditing regulations.
Auditor Analysts
In these roles, the responsibility for reconciliation and accuracy of accounts payable and receivable, payroll, and other expenditures fall to the audit specialist. Revisions in tax codes and other federal guidelines are sometimes left to the auditing department for implementation and compliance. Other duties include internal audits and providing assistance to IRS officials during their audits.
Directors, Vice Presidents, and other Management Personnel
These positions are filled by those with extensive experience and an in-depth understanding of a company’s policies and operating procedures. These personnel oversee those in the payroll and finance departments. Duties will vary by company.
Of course, these are only a few of the possibilities for those seeking positions as auditors. Clearly, room for promotion is widely available. Income potential is exceptional, as is indicated by the Bureau of Labor Statistics. Those who are new to the job market can expect incomes of around $55,000 annually. As responsibilities and experience increase, so does the earning potential. Those who have continued education and have taken advantage of other opportunities to remain up to date with new technology can expect to gradually increase their annual salaries, some by as much as 14 percent per year.
With a commitment to integrity, attention to detail, and a sincere attempt to maintain compliance, those who choose careers in auditing stand to enjoy considerable salaries and ample opportunities for advancement.
