- Accounting Career Feature
Public Accounting Jobs: Careers in Auditing and Tax
by Amit Agarwal
by Amit Agarwal
A career in public accounting may lead you to perform a number of accounting services for clients, either individuals or corporations. Public accounting jobs range from auditing and tax to financial planning and consulting. This article lays out the most common and sought after professions in public accounting—auditing and tax.
Public Accounting Jobs
Thoughpublic accounting jobs can be found with a number of accounting firms today, a career in the Big Six would definitely hold an advantage. It may be easy to get an entry-level job in a PricewaterhouseCoopers or an Ernst & Young, but sticking with those firms and advancing your career there would take a lot of hard work.
Public accounting jobs offer advancement opportunities as audit managers, tax managers, or partners, but these positions are reached by only 2-3 percent of new hires.
Public Accounting Jobs in Auditing and Tax
In accounting terms, auditing refers to checking accounting ledgers and financial statements within business, public, and not-for-profit organizations. Public accounting jobs in auditing provide a solid foundation for future specialist work.
The job of tax accountants is to prepare corporate and personal income tax statements. Tax accountants work on strategies for deferring taxes, and also work on legal tax issues involving mergers and acquisitions. An expert understanding of the tax code is essential.
A staff auditor prepares audit papers, analyzing and verifying information in clients’ ledgers and statements. A tax staff prepares tax returns, works on tax issues, and counsels clients on related matters.
Salaries in public accounting jobs as staff auditors or tax staff range from $30,000 to $50,000. A bachelor’s degree in accounting or finance along with proficiency in common computer applications in required.
Public accounting jobs as tax seniors primarily require preparing and reviewing tax returns. Tax seniors work on tax planning for corporations and individuals, manage tax staff, and keep themselves updated on the Internal Revenue Code and other tax law.
It generally takes 3-6 years of experience before one becomes a senior auditor or tax senior. The salary range in this field is $40,000-$60,000 depending on the job profile and firm.
Public accounting jobs as tax managers also require management of client relationships. Tax managers supervise tax seniors and tax staff, review tax returns prepared by tax staff, and perform tax planning. Tax managers usually specialize in state, IRS, or international tax issues.
Audit and tax managers usually have 6-8 years of experience, and their salaries range from $60,000 to $90,000.
Conclusion
Senior public accounting jobs may lead to high-level positions such as partner, controller, or CFO. The salary range in this category can reach $300,000 or more. For a person beginning the journey to become a public accountant, it is advisable to look for bachelors, MBA, or MAcc degree programs.
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| Public accounting jobs offer advancement opportunities. |
Thoughpublic accounting jobs can be found with a number of accounting firms today, a career in the Big Six would definitely hold an advantage. It may be easy to get an entry-level job in a PricewaterhouseCoopers or an Ernst & Young, but sticking with those firms and advancing your career there would take a lot of hard work.
Public accounting jobs offer advancement opportunities as audit managers, tax managers, or partners, but these positions are reached by only 2-3 percent of new hires.
Public Accounting Jobs in Auditing and Tax
In accounting terms, auditing refers to checking accounting ledgers and financial statements within business, public, and not-for-profit organizations. Public accounting jobs in auditing provide a solid foundation for future specialist work.
The job of tax accountants is to prepare corporate and personal income tax statements. Tax accountants work on strategies for deferring taxes, and also work on legal tax issues involving mergers and acquisitions. An expert understanding of the tax code is essential.
• Staff Auditor and Tax StaffWorking as a staff auditor, junior auditor, staff accountant, or tax staff is the best way to start a career in auditing or tax. This field generally requires you to work under the supervision of a senior auditor or senior tax manager.
A staff auditor prepares audit papers, analyzing and verifying information in clients’ ledgers and statements. A tax staff prepares tax returns, works on tax issues, and counsels clients on related matters.
Salaries in public accounting jobs as staff auditors or tax staff range from $30,000 to $50,000. A bachelor’s degree in accounting or finance along with proficiency in common computer applications in required.
• Senior Auditor and Tax SeniorSenior auditors supervise staff auditors and review their work to ensure a smooth audit. They are responsible for maintaining client relationships, administering budget issues, and informing audit managers and/or partners about relevant activities.
Public accounting jobs as tax seniors primarily require preparing and reviewing tax returns. Tax seniors work on tax planning for corporations and individuals, manage tax staff, and keep themselves updated on the Internal Revenue Code and other tax law.
It generally takes 3-6 years of experience before one becomes a senior auditor or tax senior. The salary range in this field is $40,000-$60,000 depending on the job profile and firm.
• Audit and Tax ManagerAudit managers are responsible for managing client relationships. They review the audit after the senior auditor is satisfied with it. Audit managers generally supervise and train their juniors and work on the final billings for clients.
Public accounting jobs as tax managers also require management of client relationships. Tax managers supervise tax seniors and tax staff, review tax returns prepared by tax staff, and perform tax planning. Tax managers usually specialize in state, IRS, or international tax issues.
Audit and tax managers usually have 6-8 years of experience, and their salaries range from $60,000 to $90,000.
Conclusion
Senior public accounting jobs may lead to high-level positions such as partner, controller, or CFO. The salary range in this category can reach $300,000 or more. For a person beginning the journey to become a public accountant, it is advisable to look for bachelors, MBA, or MAcc degree programs.
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