How You Can Save Business by Choosing To Become a Tax Accountant
Are you interested in business and management and are you good with numbers? Then you are exactly right if you choose the profession of auditor! But how do you become an auditor? We provide you with all the basic information about the job and explain how it all works!
Public Accountant – A varied profession
The profession of auditor has developed significantly in recent years and attracts young professionals with interesting fields of activity and good career opportunities. Public accountants are no longer “tick makers”, but sought-after experts in many fields such as auditing balance sheets, tax and management consulting, right through to activities as appraisers and fiduciaries.
Nowadays, prospective auditors have to demonstrate knowledge in more areas than just accounting. They must be familiar with controlling and marketing, they must be able to assess business opportunities and risks and, under certain circumstances, also be able to judge whether a company can continue to exist. Advice from accountants is also sought after in mergers and acquisitions, as due diligence procedures are becoming increasingly complex.
The fields of activity of an auditor are correspondingly varied and offer access to the executive floors of a wide variety of companies even at a young age. As the best small business tax accountants in Melbourne, Sydney you will be in constant contact with high-ranking managers during audits and discuss the accounting of certain positions and much more with them. This not only results in high demands on the expressiveness and communication skills of the employees on the part of the auditing company but also special opportunities for the individual employee to build up his network.
Become an auditor: Prerequisites
Auditing is a sensitive professional field and therefore requires the highest seriousness from the employees. By taking the professional oath, prospective auditors testify that they are aware of this and will uphold their obligations at all times. One requirement is that you have no criminal record.
Two other basic requirements for exercising this profession are honesty and confidentiality. Anyone who looks deep into the books and sensitive figures of companies or, for example, as a consultant who knows about a company’s various difficulties, only shares this knowledge with their colleagues. At the same time, however, the client must be presented with concrete proposals for decisions, for example on company restructuring or honest assessments of the balance sheet, because this is what the auditors have to be measured against.
Becoming an auditor: how it works
How can you become a chartered accountant? What do you have to do to be admitted to the chartered accountant exam? Various study paths help to become a chartered accountant. As a rule, however, an academic degree is the first step toward auditing.
Studying an economics course is a good idea because a high level of knowledge in the field of economics is required for the chartered accountant exam in any case. You can then help a company understand how their business structure affects them at tax time.
In addition, many economics degree programs enable specializations in the areas of “auditing”, “tax law” or “tax theory” and the students thus gain initial knowledge and experience in taxation and auditing.
In principle, it can be stated that to become an auditor, proof of completed university education is required, the completion of a prescribed field of study is not necessary.
Work experience required
Another important aspect on the way to becoming an accountant is practical experience. Every participant in the auditor exam must be able to demonstrate relevant professional experience. If you have completed your studies for eight or more semesters, at least three years of professional practice are required. In addition, all candidates must prove that they have taken final examinations for more than two years and have written an examination report.
The 10 Most Crucial characteristics of a good accountant
- Accuracy
The more precise, the better: auditors should not overlook anything, but proceed very precisely in their work. That’s the only thing that helps him – and ultimately the company as well.
- Affinity for numbers
Anyone who wants to work as an auditor should understand how to deal with numbers and statistics. Analytical thinking and financial skills are essential for the job.
- Specialist knowledge
Every auditor has to understand something about his subject. Only those who are technically competent can work correctly and uncover existing problems with confidence.
- Communication skills
If the annual audit or a special audit is pending, not everyone is equally enthusiastic. It is therefore important that the auditor is communicative and open to the client. This leaves a good impression and creates trust.
- Integrity
Integrity is the assurance that data will remain unaltered and uncorrupted. If the auditor can guarantee this, his appearance is considered to be serious. The outcome of an engagement is largely dependent on the integrity of the auditor.
- Knowledge of English
They may be underestimated in the auditing profession, but they are particularly important for assignments in international companies. To have a complete overview of the financial situation, the auditor must also be able to speak English.
- Customer orientation
Anyone who works in a customer-oriented manner can grasp the wishes and expectations of the customer. In the auditing business, in particular, wishes that some customers have cannot be taken into account. Seriousness, communication skills and honesty come together here.
- Team skills
A whole team of auditors is sent to the company, especially for large orders. They will only be successful if everyone pulls together. Anyone who is not able to work in a team hinders the work of others and thus also the successful examination.
- Resilience
It plays a particularly important role in large orders. If he is almost overwhelmed by information and is also under time pressure, the auditor should be able to withstand this burden.
- Honesty
The audit only helps the company if the result of the auditor is also an honest one. The result must not correspond to the specifications of the management, it must be technically correct.
To Conclude,
That’s the be-all and end-all of the job.
It went very quickly: Those were the ten points that distinguish a competent auditor. Do the requirements match your personality? Then working as an auditor could be a good career prospect for you.
Author Bio:
Hello everyone, I am Erika Rhein, a professional writer, and blogger. Here you can see my skills which gives you brief ideas on understanding all the concepts with different themes. I adore writing a blog on many topics, like Home Improvement, Automotive, Business, Health, Lifestyle, Entertainment, Pet, etc.
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