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Accounting Jobs Increase Thanks to Sarbanes-Oxley
September 12, 2005
By Kathy A. Johnson
Business Programs Columnist
If you're new to the accounting world, you might not have heard the name Sarbanes-Oxley before. Make a note of it, because it could make a difference in your accounting career.
Adopted by Congress in 2002, the Sarbanes-Oxley Act (officially, the Public Company Accounting Reform and Investor Protection Act of 2002) was a response to corporate financial scandals affecting companies like Enron, Arthur Andersen, and WorldCom. Its regulations are meant to protect investors by ensuring that corporate financial information is reported accurately.
Demand Is Up
While increased regulation is a headache for corporate officers (just ask Outback Steakhouse, Inc.'s Bob Merritt who recently resigned as CFO because of it), the act has resulted in a growing demand for accounting professionals. As Joe McCann, dean of the Sykes College of Business at the University of Tampa, told the Tampa Tribune, "There's no question that demand is up for accounting graduates--and in particular those interested in, or having a background in, anything related to forensic accounting and auditing."
Auditors Wanted
As McCann mentioned, one way that accounting students can take advantage of demand is to specialize in internal auditing. Internal auditors "examine and evaluate their firms' financial and information systems, management procedures, and internal controls to ensure that records are accurate and controls are adequate to protect against fraud and waste," according to the U.S. Department of Labor's Occupational Outlook Handbook 2004-05 Edition. Some auditors specialize further, working as electronic data-processing, environmental, engineering, legal, insurance premium, bank, and healthcare auditors.
Whatever specialization you choose, job prospects in accounting are best for those with at least a bachelor's degree in accounting (or related field) from an accredited school. Professional certification, such as the CPA designation, will further improve your chances of finding a job. If you're interested in an accounting career, this is a good time to get started.
About the Author:
Kathy A. Johnson is a freelance writer and editor based in Florida. She has worked as a writer and editor for several publications, writing articles on a wide variety of topics. She and her husband owned and operated an insurance and financial services company for 13 years.
Sources:
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2004-05 Edition.
www.bls.gov/oco
www.stpetetimes.com
http://en.wikipedia.org
"Accountants Can Count on More Job Offers," Dave Simanoff, Tampa Tribune
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