udit or Financial Management? Which career path to take?

Your chosen career path and the decision you make along the way often determine your path and happiness in the future. When choosing a career in finance it is important to consider the different kinds of occupations that are available. A wrong decision now can mean the difference between happiness and be unsatisfied with your job.

The career path in becoming either a financial manager or an audit manager can require the same relevant studies CA (SA). However, when you have completed all the relevant requirements - that is when you hit the crossroads and need to decide which way you want to go.

A recent article in Accountancy SA explains:

The basic skills (including soft skills) required for both career choices are the same:
1. Analytical
2. Business-minded
3. Leadership

If you are interested in dissecting the inner workings of almost any aspect of a company, analyzing the risks, and implementing procedures, a career as an auditor may be for you. A Financial auditor examines and analyses accounting records of a company to determine the financial status of an establishment and Risk-based Auditors make recommendations about the operating procedures and any potential risks to the company, as well as supervise and co-ordinate the activities of other auditors.

If you need a constant change of scenery this job offers variety in terms of the companies that one audits as you could be auditing a retail company on Monday and a casino on Friday. You will also need to keep in mind though that due to the tremendous amount of contact with clients, it is required that you are able to interact with people, so an outgoing personality would help.

In contrast, financial accountants record and analyze the financial information of the companies for which they work. Among their other responsibilities are budgeting, performance evaluation, cost management, and asset management. Usually, management accountants are part of executive teams involved in strategic planning or the development of new products. They analyze and interpret the financial information that corporate executives need to make sound business decisions. They also prepare financial reports for other groups, including stockholders, creditors, regulatory agencies, and tax authorities.

Accounting is a diverse career with virtually unlimited options. If you have the right set of skills for the job, you can find a way to employ them that also suits your tastes, personal strengths, and personality.

Are you at a crossroads in your finance career? Communicate Recruitment specializes in financial recruitment including accounting, auditing, taxation, and corporate finance jobs. We will be able to assist you whether you are looking to move into Audit Management or any other finance career.
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