Accountants and Auditors Career Profile

Picture this: You’re the financial detective who ensures that every dollar is accounted for and every transaction tells the true story of an organization’s financial health.

Think about when you balance your personal budget or review your bank statements – now multiply that responsibility across an entire organization, where millions of dollars and hundreds of stakeholders depend on your accuracy and integrity.

Accountants and auditors are the backbone of financial transparency and business success, serving as trusted advisors who interpret complex financial data and ensure compliance with laws and regulations. 

Total employment: 1,562,000 (2023)

Common Names for Accountants and Auditors

• Accountant
• Accounting Officer
• Audit Partner
• Auditor
• Certified Public Accountant (CPA)
• Cost Accountant
• Financial Auditor
• General Accountant
• Revenue Tax Specialist

What Accountants and Auditors Do

Accountants and auditors are financial professionals who maintain and examine financial records. Here’s a fundamental list of core responsibilities for accountants and auditors, aligned with BLS standards:

• Financial Statement Preparation: Compile and analyze financial records to create accurate balance sheets, income statements, and cash flow reports that provide stakeholders with a clear picture of the organization’s financial health.
• Regulatory Compliance: Ensure all financial operations and documentation adhere to federal, state, and local regulations, maintaining compliance with tax laws and accounting standards to protect the organization from legal issues.
• Internal Controls Management: Develop and maintain systems to safeguard company assets and ensure data accuracy, implementing checks and balances that prevent errors and detect potential fraud.
• Tax Planning and Reporting: Prepare and file tax returns while identifying opportunities for tax efficiency, ensuring timely submissions and optimal tax positions within legal frameworks.
• Financial Analysis and Reporting: Analyze financial data to provide meaningful insights and recommendations to management, supporting informed business decisions through clear, actionable reports.
• Account Reconciliation: Review and verify financial transactions across all accounts to ensure accuracy and completeness of records, maintaining the integrity of financial data.
• Budget Development: Create and monitor organizational budgets, comparing actual performance against projections to help management control costs and plan for future periods.
• Risk Assessment: Identify and evaluate financial risks to the organization, recommending mitigation strategies that protect company assets and ensure long-term stability.