Thanks to high-profile cases of accounting fraud (like Enron), accounting (surprisingly) has more opportunities, not less.  There a huge and growing need for accountants.  The scandals, and the resulting media attention, have resulted in a growing need for accountants and a heightened awareness of the importance of the services they provide. 

New governmental regulations such as the Sarbanes-Oxley act and serious consequences for violations or non-compliance have brought more attention to the field of accounting.  Companies and organizations of all sizes have an increased appreciation for the importance of honest, reliable accounting practices and industry standards.

This new focus on quality, accuracy, and honesty in financial matters has led to more available accounting jobs and more respect for the profession.  The level of trust placed upon them – and the accompanying responsibility – has never been greater for those working in the accounting field.

Like many professions, there are certification and license requirements for employment in the  accounting and auditing in this field.  Successful incumbents are usually detail-oriented, highly skilled researchers, and knowledgeable about U.S. and international tax laws, economics and money markets. They need to possess self-confidence and maturity, as well as the ability to work independently.  A broad range of skills is required:  excellent mathematical and computer skills, excellent analytic and problem solving skills, excellent oral and written communication skills, and strong interpersonal skills.

Many graduates of accounting programs find their first jobs in the profession as financial analysts or internal auditors in areas as financial planning, resource allocation, and management information systems. Starting public accountants usually begin by assisting with work for several clients.   Management accountants often start as cost accountants, junior internal auditors or as trainees for other accounting positions.

The recent negative publicity has helped, rather than harmed the professions.  Firms are hiring are hiring accountants.    To help them meet their fiduciary responsibilities, corporate boards are demanding more from their accountants and auditors. Laws recently passed, intended to prevent other scandals, imposes new duties and responsibilities on accountants and auditors.  Client billings are increasing; accountants are raising their fees – and hiring additional associates.

Sarbanes-Oxley, the “Ken Lay” rule, and other laws and regulations, have resulted in a significant shift in job functions.  Accountants (if they ever did) will no longer just “crunch numbers” but will be integrally involved with the business and its processes.

To sum it up, demand is high (and increasing) for accounting professionals.  It’s an excellent field for talented and motivated individuals willing to make moral, legal, and ethical choices.