List of types of accounting fields that accountant can specialize in. Accountancy offers good career opportunities in its related fields or outside accounting. If you are studying accountancy, here are the different types of career paths that accountants can choose to work as:
- Forensic accountants
- Public accountants
Auditors verify the financial documents, investigate and analyze the financial statements for frauds and accuracy in accordance with the Singapore Standards on Auditing (SSA) and other requirements. All companies in Singapore that exceed audit threshold SGD5 million are required to have their financial statements audited by external auditor. Registration is required by ACRA (Accounting and Corporate Regulatory Authority) for all public accountants who are doing auditing work. To qualify, being a member of ISCA, prescribed qualification, audit experience and prescribed amount of continuing professional education are required.
Forensic accounting is a very specialised industry which accounting, auditing are needed for legal cases assistance or civil and criminal disputes such as financial fraud, embezzlement etc. Accountants in this field are likely to be involved with big audit firms and singapore police force.
Public accountant is a certified accountant whose job includes financial accounting, tax and corporate advisory work. Financial accounting refers to the work of generating financial statements or external reports with the financial information. Accountants would need to prepare the financial statements professionally based on accounting standards and guidelines. These standards or accounting framework to be followed is commonly known as Singapore Financial Reporting Standards (SFRS) or (IFRS).