Hiring any candidate is risky because a poor fit will cost the company time and money. However, hiring the wrong accounting candidate is even riskier because accountants are responsible for enormous amounts of money. Here are five keys for hiring the right accountant.
Accounting Laws and Regulations
The first question to ask any potential accounting candidate is how they stay up-do-date on accounting laws and regulations. Understandably, it is impossible for anyone to always stay abreast of changing financial regulations. However, the candidate should display a reliable and methodical approach to staying in the loop of financial law changes. This could include reading industry publications, attending annual conferences and personal research.
Deadlines and Prioritization
Accounting candidates must be asked about how they handle deadlines and re-prioritize their tasks accordingly. This will allow the candidate to showcase their work style, habits and personality. The financial world never sleeps and therefore accountants must be able to quickly and effortlessly adjust their workload. Accounting professionals that cannot meet deadlines or multitask will struggle in their position.
Technology
Every company will use some form of accounting software. However, cloud computing, data analytics and mobile technology mean that accounting programs are in the process of changing. In addition to this, government financial and corporate governance regulations are changing as the public demands better security, privacy and transparency. Therefore, every serious accounting candidate must be tech savvy in order to adapt to future industry changes.
Accountability
Honesty and transparency are critical attributes that every accounting candidate should possess. They should also be very detail-oriented and results-driven. They must uphold the highest ethical standards. In fact, the American Institute of CPAs clearly states that CPAs must abide by AICPA Code of Professional Conduct, which includes codes for tax practice, contingent fees, conflicts of interest and confidential information.
Education
Most accountants have a standard bachelor’s degree in accounting or finance. However, the best candidates will have higher education credentials, such as a master’s degree in accounting. These challenging classes will ensure that the candidate is familiar with advanced auditing, accounting theories and reporting procedures. They will also prove that they have studied contemporary issues in business law, information systems and managerial accounting.
Overall, hiring managers must carefully select accountants to avoid potential legal or financial problems down the road. The best accounting candidates will keep up with changing regulations, adapt to deadlines and understand technology. They will also have a strong ethical system and educational background.
