Yes, audit and attestation is not a CPA’s only job and career path. You can work in a lot of exciting industries, and in many instances, interesting expertise within the finance and accounting field. Please take a look at what these CPAs do in real life:
CPA Career Path In Auditing And Beyond
#1. Assurance Service (Audit)
This is the most common career choice for a CPA. Every corporation is required to hire a public accounting firm to audit its books to ensure that the financial report is done based on the General Accepted Accounting Principles (GAAP). An auditor’s role is to examine the financial report through questions, comparison and analysis to make sure the financial statements are presented accurately.
#2. Advisory (Consulting Service)
CPAs can offer expert advice on financial planning, corporate finance, mergers & acquisitions, international trade for individuals, businesses, non-profit organizations and government agencies.
#3. Tax
CPAs can offer expert advice on tax planning and reporting (both on-shore and off-shore) for individuals, businesses and non-profit organizations.
#4. Other Niche Areas
- Information Technology (IT) Services: CPAs with strong computer skills can design and implement advanced accounting systems to improve the efficiency of companies.
- Forensic Accounting (investigative accounting or fraud auditing): CPAs can unearth evidence of criminal misconduct through accounting records. You can learn more about forensic accounting (for US) and what forensic and litigation accountants do in Canada here.
- Compliance: CPAs can specialize in auditing for compliance in certain regulation. Many interesting niches e.g. environmental compliance has emerged in recent years.
Any other CPA specialty areas you can think of? Please share your thoughts in the comment section below.
Related Frequently Asked Questions
- How to become a CPA?
- 5 great reasons to become a CPA
- CPA vs Accountant: Is it the same thing?
- What is public accounting vs non-public accounting?
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