Careers in Finance
Careers in FinanceName:Institution:Careers in FinanceFinance is an interesting and exciting field that offers job opportunities to holders of Bachelors, Masters and Doctorate Degrees in Finance. Holders of Bachelors in Finance degree can secure entry jobs either in the public or private sector. Finance degree holders can also work for non-profit as well as for-profit organisations. Some of the employers for finance graduates include commercial banks, hedge funds, insurance companies, governments, institutions of learning, corporations, hospitals and investment banks. There are many financial career options that a graduate can pursue. This essay compares the work of an auditor and that of a financial analyst in an organization. Financial Analyst Vs, AuditorA financial analyst and an auditor are highly trained experts. These experts look after the financial well being of their employers. Auditors are tasked with the responsibility of checking the financial books of a company to check for their correctness. They also run periodic audits of operations to check if the company is operating in line with the required standards. On the other hand, financial analysts are tasked with guiding individuals and the company on how to spot viable investment opportunities. They do this by analysing the markets and underlying conditions.
Auditors are important to companies because they are responsible for attesting that a company’s accounting procedures and the corresponding financial records comply with the set down rules and regulations. In public companies, auditors are expected to audit financial records and statements to ensure that they comply with the law set by the regulating authorities. Additionally, auditors provide assurance to creditors and shareholders of companies that company funds are being managed appropriately. Auditors can protect the investing public from committing their funds in companies that use fraud and corrupt business practices. Financial analysts are important to companies because they are responsible for researching both the microeconomic and macroeconomic conditions and collect financial information together with company fundamentals which the company can use to make sector, industry and business decisions. Bearing in mind that companies operate in hyper competitive environments shrouded by a cloud of uncertainty, this necessitates for the hiring of a financial analyst who will use his skill to determine the current financial position of the firm and plan for any future financial requirements. The financial performance and health of a firm cannot be determined without the help of a financial analyst. Skills neededFor one to be successful as an auditor, s/he must possess both subject-specific and generic skills. An applicant for an auditor position must possess a Bachelor’s Degree in Finance/Accounting /Economic. Masters in any of the fields mentioned is normally considered an added advantage. An applicant with a professional certificate from a recognised body that governs the operations of auditors in a specific jurisdiction stands a higher chance of getting hired. An applicant must also be confident, self-motivated and determined. The applicant must be one that meticulously pays attention too details. Further, excellence in problem-solving, strong aptitude for maths, strong IT skills and excellent communication and people skills are indispensable for anyone hoping to land a job as an auditor.