Accountants tend to work in one or more of four main sectors within their industry – Audit, Financial Accounting, Management Accounting and Tax.
An external auditor will compile their report independently of the company they are auditing, with this report being delivered back to the auditor’s organisation as well as the company itself. Internal auditors investigate and evaluate the internal controls and procedures that their own business has in place, and will report these findings back to the business’ Board of Directors.
A Financial Accountant based within a business creates reports based on criteria laid out by the Government. Management Accountants analyse financial information both within a company and in the business world in general in order to forecast what may happen in future and how best to plan for it. A Tax Accountant has the responsibility for preparing tax statements both for individuals and businesses.
