Associate - Accounting or Auditing Firm

Accounting associates or auditors are typically accountable for the audit and record keeping within their company. They review accounting and financial records to ensure they are accurate and make recommendations to their employers. The associate is also accountable to test internal auditing and accounting controls to make sure they're operating correctly. The daily responsibilities of an accounting or auditing associate are to study and analyze the accounting records of their company to ensure that financial procedures are adhered to, creating both external and internal financial audits, and presenting them to their company and to clients.

The position is usually full-time, however the schedule can vary based on the season and the location of the job. The majority of time is spent in the office, interacting with others on the finance team as well as other employees of the company. Accounting associates or auditors generally work under the supervision of an auditing manager or the Chief Financial Officer (CFO).

Accounting associate or auditing jobs typically require an undergraduate degree in accounting, and at least three years of experience in a finance-related environment. Certified public accountant (CPA) certification is highly recommended. A high level of oral and written communication skills are essential along with good organization and multi-tasking abilities. Accounting or auditing associates must be familiar with the auditing practices, too. The ability to use computers is essential.

Within the context of the Associate - Auditing or Accounting Firm, employees are expected to fulfill the following roles and responsibilities in order to make meaningful contributions towards organizational success.

• Ensuring financial records are accurate and up-to-date, including preparing and posting journal entries, reconciling accounts, and managing expense reports.
• Working with the auditing team to analyze data, prepare documentation, and ensure compliance with audit protocols.
• Attending client meetings to discuss accounting and auditing procedures, review financial information, and provide recommendations for improvements.
• Continuously improving technical knowledge by staying up-to-date with industry regulations, emerging technologies, and best practices in accounting and auditing.

Major educational qualifications required for Associate - Accounting or Auditing Firm are:

• The majority of employers require auditors to hold a bachelor's degree in finance, accounting or a closely related area.
• Certain employers prefer hiring applicants with an advanced degree in business administration or accounting with a focus on accounting.
• The relevant courses include accounting, auditing, and business law, economics finance, management, and statistics.

If you're an entry-level job seeker with an interest in accounting or auditing, there are a number of alternative roles available in India. Here's a quick list of four potential options, each requiring 0-3 years of work experience:

• Tax Consultant: Working closely with individual clients and companies to help them navigate their taxation responsibilities and potential deductions/credits.
• Bookkeeper: A hands-on role that focuses on accurately recording and maintaining financial transactions for a company or individual.
• Financial Analyst: Analyzing financial data to gain insights and provide guidance to clients on investment or budgeting decisions.
• Payroll Specialist: Focused on ensuring accuracy and timeliness in payroll processing, as well as ensuring compliance with relevant regulations.

The Associate role in accounting or auditing firms is expected to grow at a steady pace in the Indian market. According to the Labour Bureau, Government of India, the employment of accountants and auditors is expected to increase by 10% from 2019-2029. Reports from Statista suggest that the accounting industry in India is projected to grow at a CAGR of 8.6% by 2022. Moreover, a report by KPMG states that India will need an additional 35 million professionals in finance and accounting by 2025. Thus, this position is expected to have ample employment opportunities in the future, making it a promising career option in the country.