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For CPAs, is it more interesting to work in an accounting firm or in the heart of an SME? It all depends on your objectives.
Working in an accounting firm enables you to work in more than one activity sector and leverage your colleagues’ experience to grow. Here are the main differences between a firm and other types of businesses.
Diversity of files
In a firm like ours, Chartered Professional Accountants (CPAs) work with clients in highly diversified fields, each with its own particular challenges. They meet with business managers recognized as leaders in their industry.
This enables them to acquire in-depth knowledge and experience the different aspects of the business world. Accordingly, an assurance specialist can be at a manufacturing client one day, and on the next, at a client who manages hotels.
Sharing of knowledge
Often, in an accounting firm, files are worked on by a team of CPAs from the same discipline or various specialties, in a spirit of collaboration and knowledge sharing. Accordingly, each person offers solutions to the client and develops his knowhow by working with other experts in their profession.
This team spirit enables players to contribute to improving work methods, by brainstorming with their colleagues on the best practices to be introduced.
When CPAs work for an SME, they are often the only CPA in the organization and are required to carry out several duties. For example, a CPA who might be the financial controller could also be involved in analyzing investment projects, searching for financing and improving work processes.
However, this CPA works alone and acquires limited expertise in the employer’s industry, contrary to the CPA who works for an accounting firm.
In other types of businesses, CPAs might work with several other CPAs who can help them and share their knowledge. Nevertheless, their tasks and responsibilities will be rather restricted.
Professional development and career progression
Surrounded by experienced colleagues, young CPAs in our firm will be properly supported by their colleagues. Throughout their professional development, they will benefit from training programs to update their knowledge. If they so wish, they can specialize in a particular discipline, such as tax, financial consulting or corporate reorganization, or develop their management skills.
Everything is structured to lead the professional to grow and excel. If such is their ambition, young CPAs will have the opportunity to be promoted much faster than in other types of companies.
Innovation
In an innovation-oriented firm like ours, it is also possible to explore promising new fields of activity. This is the case, for example, with blockchain technology, an area where almost everything in terms of accounting standards has to be developed and where our company plays a pioneering role.
Is it more demanding and restrictive to work in an accounting firm or in an SME or another type of company? It all depends on the organization that employs you.
Here, we value the best possible work-life balance. That’s why we offer our employees considerable flexibility. What’s important is that everyone benefits from an environment that allows them to express their talent.
Our thanks to Sébastien Roy, Partner, Financial Advisory, and to Olivier Chauveau, Partner, Assurance, for their valuable contribution to this article.