Accountants are Critical – Job Growth Predicted
The accounting scandals of the past decade put a spotlight on the critical role that accountants play in protecting employees and the general public against corporate fraud and malfeasance. Congressional legislation to prevent future WorldCom and Enron-type meltdowns, particularly the Sarbanes-Oxley Act of 2002, forced the government and private industry to expand their employment of accountants and auditors to provide a higher level of reporting and oversight.
Increased scrutiny of company finances and accounting procedures will continue to create opportunities for accountants, particularly CPAs. Management accountants and internal auditors are also in higher demand to discover and eliminate fraud before audits. Efforts to make government agencies more efficient and accountable will increase demand for government accountants. And the government’s watchdog role requires forensic accountants to detect illegal financial activity by individuals, companies, and organized crime rings.
Strong growth of accountant jobs is expected over the next decade. Employment of accountants and auditors combined is expected to grow by a quarter-million jobs between 2006 and 2016, faster than the average for all occupations. Continued expansion of the number of businesses, changing financial laws and corporate governance regulations, and increased accountability for protecting an organization’s stakeholders will drive growth. Increased demand also arises from annual changes in the tax code, financial reporting standards, and business mergers and acquisitions.
May 2nd, 2010
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