An increase in the number of businesses, changing financial laws and regulations, and greater scrutiny of company finances will drive faster-than-average growth of accountants and auditors, reports the Department of Labor (DOL). In addition, in response to recent accounting scandals, new Federal legislation restricts the non-auditing services that public accountants can provide to clients. If an accounting firm audits a clients financial statements, that same firm cannot provide advice on human resources, technology, investment banking, or legal matters, although accountants may still advise on tax issues, such as establishing a tax shelter. This requires the client in most cases to hire two separate firms to handle their annual accounting and financial services needs.
Recognize the causes of the increased demand for accounting and financial personnel Identify with the effects of the increasing demand List what you can do within your organization to improve your chances of retaining quality accountants Recognize the DOL projections for growth in the demand for accountants through the year 2014 Identify the reasons the DOL believe the demand for accountants will increase so rapidly Recognize how the increase in demand will affect CPAs and the organizations and clients they work with. Recognize the overall job opportunities for accountants based on the increase in demand. Identify what employers can do to increase there chances of being able to compete against other organizations for the most qualified accountants Recognize what will be required in a typical accounting firm as a result of the increase in demand for accountants List the first and most important step that you can do to improve accountant moral and retention periods Identify with the use of Career Anchors
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