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Accountancy or taxation professional

Accountancy or taxation professional

Level 7 - Professional Occupation

Providing financial information and advice to different organisations.

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Summary

Accountancy or taxation professionals are recognised around the world as respected leaders in accountancy, taxation, finance and business. From providing strategic business advice to audited financial statements or driving mergers and acquisitions, a career as an Accountancy or taxation professional can be diverse and challenging; it's not just about putting numbers into a spreadsheet. Accountancy or taxation professionals use technical knowledge, skills and experience to lead organisations and people to make responsible and sustainable financial decisions. They are required to act in the public interest and must therefore maintain the highest standards of professional conduct and competency; upholding ethical behaviour and integrity at all times. Accountancy or taxation professionals provide financial information and advice to organisations of all types and sizes; from owner managed businesses to multi-national organisations; from private enterprises to public sector institutions, from entrepreneurs to charities. Examples of roles as an Accountancy or taxation professional include, but are not limited to, Financial accountant, Management accountant, Tax accountant, Tax adviser, Tax specialist, External auditor, Internal auditor, Financial analyst, Management consultant, Forensic accountant and Business advisor.

Typical job titles include:

External auditor
Financial accountant
Financial analyst
Forensic accountant and Business advisor
Internal auditor
Management accountant
Management consultant
Tax accountant
Tax adviser
Tax specialist

Keywords:

Accountant
Accouting
Professional
Tax
Taxation

Knowledge, skills and behaviours (KSBs)

K1: Provide a degree of assurance that stakeholders can trust information (financial and non-financial) regarding the organisation, as relevant to their role. In doing so, they will be able to exercise professional judgement and consider both risks and risk management approaches.
K2: Demonstrate knowledge of key business objectives and measurements of success.
K3: Prepare, analyse and interpret an organisations financial information (both for internal and external purposes), as relevant to their role.
K4: Understand, interpret and apply the legislation, standards and principles that apply to Standards and their role. This may include, but not be limited to, accounting standards, auditing Principles standards, taxation legislation, ethical codes and internal principles adopted by an organisation.
K5: Apply their judgement and make sustainable business decisions (including recommendations for good governance) using financial and non-financial information. Support strategic decision making with meaningful financial analysis and project appraisal. Present a balanced conclusion, with supporting evidence, which includes internal and external factors.

S1: Build trusted and sustainable relationships with individuals and organisations. Consistently support individuals and collaborate to achieve results as part of a team.
S2: Influence the impact of business decisions on relevant and affected communities based on an appreciation of different organisations and the environments in which they operate.
S3: Communicate in a clear, articulate and appropriate manner. Adapt communications to suit different situations, individuals or teams.
S4: Identify ethical dilemmas, understand the implications and behave appropriately. Understand their legal responsibilities, both within the letter and the spirit of the law, as well as be aware of the procedures for reporting concerns over potentially unethical activities.
S5: Take ownership of allocated projects and effectively manage their own time and the time of others. Demonstrate good project management skills to deliver high quality work within the appropriate timeline. Act as a role model and motivate others to deliver results.
S6: Evaluate information quickly and draw accurate conclusions. Assess a problem from multiple angles to ensure all relevant issues are considered. Gather the appropriate facts and evidence in order to make decisions effectively.

B1: Anticipate an individual™s organisations future needs and requirements. Identify opportunities that can add value for the individual and organisation.
B2: Take responsibility for their own professional development by seeking out opportunities that enhance their knowledge, skills and experience.
B3: Adapt approach to assist organisations and individuals to manage their conflicting priorities as circumstances change.
B4: Apply a questioning mind to conditions which may indicate a possible misstatement of financial information due to error or fraud.

Occupational Progression

This occupational progression map shows technical occupations that have transferable knowledge and skills.

In this map, the focused occupation is highlighted in yellow. The arrows indicate where transferable knowledge and skills exist between two occupations. This map shows some of the strongest progression links between the focused occupation and other occupations.

It is anticipated that individuals would be required to undertake further learning or training to progress to and from occupations. To find out more about an occupation featured in the progression map, including the learning options available, click the occupation.

Progression decisions have been reached by comparing the knowledge and skills statements between occupational standards, combined with individualised learner movement data.

Technical Occupations

Levels 2-3

Higher Technical Occupations

Levels 4-5

Professional Occupations

Levels 6-7

Progression link into focused occupation.
Progression link into focused occupation.
Progression link into focused occupation.
Progression link into focused occupation.
This is the focused occupation.
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Level 7

Business and administration

Legal, finance and accounting