Accounting is one area of the job market that does not show any signs of slowing down. In fact the opportunities for recent accounting graduates to find jobs in this profession are growing daily. Experts predict that the job market for accountants will be the fastest growing one with an expected increase of job postings continuing for the next number of years. Now is the time to get involved in this exciting profession where there are many possibilities for advancement and high salaries. This increase in jobs is due mainly to the Sarbanes-Oakley Act of 2002, which greatly increased the workload of practicing accountants.
This legislation is fueling the need for skilled accountants making it easier for accounting graduates to get jobs and many even have job offers before they graduate with their accounting degree. The Sarbanes-Oakley Act requires companies to adopt sound governing practices for their operations and to certify the controls they have in place with respect to their financial reporting activities. Companies that are publicly traded now need to have systems of checks and balances in place that will minimize the possibility of criminal activity within the organization. The senior management have an increased workload because they must attest to the existence and performance of these checks and balances.
There are now new guidelines in place for companies complying with this act. Adhering to these guidelines has necessitated the hiring of more accountants and thus opens up more job opportunities for accounting graduates. Prior to 2007, small and mid-sized companies did not have to comply with this act, but this has now changed. These companies now need additional staff to ensure that they have the governing policies and checks and balances in place in order to comply with the legislation.
One of the main changes of this act that affects companies is that they now need to have accountants involved in internal auditing. Since this job is one for which you need certification as a CPA, there are entry-level positions available for accounting graduates as experienced accountants advance to this position in the companies. It also means that accountants that previously provided consulting services to clients are now fully occupied with ensuring compliance to the act and can no longer engage in consulting work.
The rise in the job opportunities for accounting graduates also means that the salaries of accountants are increasing as companies compete to recruit the top graduates in each class. With the internship component of the accounting degree program, accountants do not have any difficulty finding employers eager to take on interns to help alleviate some of the workload of the company. When you perform well in your internship, you will likely be hired by the same company when you graduate.
Accounting firms and government agencies scrambling to comply to the terms of the Sarbanes-Oakley Act contact the universities for the names of graduates interested in working with them. They hold job fairs at universities throughout the state and many of them even offer to pay the fees associated with obtaining CPA status in order to keep the accountants working with them.
