CPAs Are Finding Rewarding Career Paths in Government Service

Working in government has all the makings of a rewarding career: room for growth, work-life balance, and a chance to have a tangible impact on your community in areas such as education, the arts, health and safety and more. Read on to learn about some of the unique aspects of the government sector.

Safeguarding the public purse

Government is a huge sector, so there’s a wide variety of paths your career could take as a CPA, starting with your decision to work for either the federal government, or in state or local government. Demand is high at the state and local levels.

Opportunities available in this important sector may involve accounting and auditing. Regardless of which path is taken, CPAs in government are essential in helping ensure that tax dollars are spent wisely and responsibly.

From an accounting perspective, CPAs may be involved in budget preparation and monitoring, financial reporting, grants management, designing internal controls, and other operational functions such as accounts payable or payroll.

CPAs in government also perform audits. For example, a CPA may work in a state audit office or a local government’s internal audit department. Here are a few examples of the types of audits you may be doing:

• Performance audits. How can a government agency—or the entire government, for that matter—work better, faster, and cheaper? When you conduct a performance audit for the government, your job is to make sure taxpayers are getting what they’re paying for.
• Financial audits. Like businesses, governments need to make sure their financial statements pass muster. Thus, some government auditors perform financial statement audits. If there are problems, governments need to know where their weaknesses are and how to fix them.
• Compliance audits. Governments also have to make sure they’re in compliance with all government-enforced rules and regulations. For example, CPAs in governments may audit grant funding to ensure it is in compliance with federal requirements.
• Investigative audits. CPAs in government may perform these types of engagements by examining financial records to detect and prevent fraud, waste, and abuse.

The view from the inside

What do CPAs working in government have to say about their chosen career path? Here are a few common themes:

• The work is meaningful and challenging. The work you do as a government CPA is often similar to what you find in a private company but there are some differences. For example, CPAs may need to have knowledge of Governmental Accounting Standards Board (GASB) principles and Government Auditing Standards, which is often referred to as the Yellow Book. There will be no shortage of new and interesting challenges.
• Work-life balance is real. Government accounting often offers reasonable hours, giving you more time to enjoy things outside of work.
• The benefits are attractive. Government benefits, from health insurance to retirement plans, are often competitive. If you are evaluating a job offer from a private company in addition to one from the government, make sure to compare the benefits closely.
• Doing good. Government CPAs often play a direct role in making government agencies and programs more effective and efficient. They’re working to make sure taxpayer dollars go further. And that’s a noble mission. In fact, it’s a reason to get excited about going to work every morning.

Government agencies are aware of the challenges they face in competing for top talent. Some of the tactics governments at all levels have been using to successfully hire and retain CPAs have been reshaping the hiring landscape, making government service even more attractive. Some of these include things like signing bonuses, increased pay scales, and providing added compensation for passing the CPA Exam, along with internship programs, and providing study time or time off for the CPA Exam.

How to make it happen

There are a lot of different paths to a government accounting job. Government agencies typically have job postings that you can search. You may also want to get to know some government CPAs. Do some networking. Learn from people who do it every day. And keep an open mind to public service possibilities.