Difference between Auditors and Accountants

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					Difference between Auditors and Accountants

Many people are confused by the difference between accountants and
auditors. They look the same. Even sound the same! But they are very different.

Let's try simplify this a bit:

      Accountants keep track of the money for all kinds of individuals and
       organizations
      Auditors make sure that the accountants carried out their job well and try
       to spot fraud where they can

But there's so much more to the work than simply ensuring that the books have
been balanced correctly.

Accountants and Auditors are highly respected financial professionals that are
involved in nearly every types of business, industry and government. Some of the
critical tasks that they carry out include:

      Budgeting
      Planning and Forecasting
      Cost Control
      Employee compensation
      Asset Management
      New product development
      Taxes (Federal, State, Personal)

The simple fact remains that, if money is involved, then the accountants and
auditors must be too. In fact, so many areas need accounting and auditing
services, that many professionals opt to specialise.

Some become tax specialists. Others become employee benefits experts. Whilst
others concentrate on preparing the income statements and balance sheets
that every public held corporation must file. And each time, the accountant
prepares the work and the auditor will end up checking it.

So how do you get into this exciting field? To take advantage of the many
opportunities you'll need to have at least a bachelor's degree in Accounting.
That's pretty much a global requirement.

If you live in America and hope to become a Certified Public
Accountant (referred to as a CPA), in many States you will need one hundred
and fifty semester hours of course work to be eligible to take the State exams as
well as significant work experience. But the rules do differ between the states.
Completing a CPA is a necessity if you want to be an auditor.

In other countries such as Australia, Scotland, England & Ireland the equivalent
of the CPA certification is referred to as being a Chartered Accountant (or an
CA/ACA for short). Each country's requirements are broadly the same.

And there are more benefits as unlike most professions accountants and
auditors have tremendous flexibility in where they work and in the job they
perform. That's the beauty of accounting - really can travel the world and use
your profession in just about anywhere you can imagine. And as long as there is
money to spend there will be always be jobs to fill and work to do.

				
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posted:9/14/2010
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