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PROFESSIONAL ISSUES

According to the THE RIGHT FIT
To determine what type of public sector career is
the right fit, accounting professionals should first
US Bureau of Labor determine whether they want to begin their public
sector career in accounting or auditing.
Statistics, the rate of Public sector accounting positions

In the public sector, the accounting function is
public sector job openings often under the comptroller’s office. The National
Association of State Auditors, Comptrollers and
Treasurers (NASACT) defines the functions of the
in 2021 was the highest comptroller’s office to include cash management,
data warehouse, debt management, disbursements,
financial reporting, internal control oversight,
in the past 20 years. investment management, financial management
system operation, payroll, pre- and post-audit,
quality assurance, tax reporting, and transparency.
Although these functions are similar in the public
problem-solving and analytical skills, and more and private sectors, the objectives of the accounting
readily advance your career. function are different in the public sector. Rather
For example, Brett Gantt, a senior accountant than a primary focus on maximizing profit for
in the State of Alabama Comptroller’s Office in owners, the public sector’s accounting function is
Montgomery, has administered funds from the more concerned with whether elected officials have
Coronavirus Aid, Relief, and Economic Security raised and expended the public’s money consistent
Act and the American Rescue Plan Act delivered with the laws and the public’s best interest. This
to the state through the federal government focus results in an increased emphasis on budgets,
during the pandemic. This involved working with which are formally included in governmental
members of the Alabama League of Municipali- financial statements.
ties, state senators, mayors, and town clerks and
implementing a software-based grant administra- Public sector auditing positions
tion process. In the federal government, each agency has an
“I really felt that my job was making a differ- Office of Inspector General (OIG). Each OIG
ence in people’s lives throughout this process,” has an office of audits (that performs financial and
Gantt said. “It allowed me to build relationships IT audits), an office of evaluations (that performs
and encounter a great deal of situations that I inspections, evaluations, and/or program analysis),
truly felt helped me grow as a professional and an and an office of investigations (that performs
accountant.” criminal investigations). At the federal level, there

IN BRIEF sector career is the right fit, leave, paid holidays, bereavement
accounting professionals need leave, paid parental leave, education
■ Jobs in the public sector offer to decide whether they want to leave, and tuition reimbursement for
accounting professionals an begin their public sector career in advanced degrees.
opportunity to contribute to social accounting or auditing. ■ Credentials and experience required
justice, a better work/life balance, ■ Compared to the private sector, the to work in the public sector differ by
generous retirement plans and health public sector typically offers more agency. For example, governmental
insurance, flexible working schedules, attractive retirement plans and accounting is unique to the sector
and reimbursement for pursuing an superior health care benefits with and quite complex, as evidenced by
advanced degree and CPA licensure. lower costs. Other financial benefits separate accounting standard setters
■ To determine what type of public often include sick and vacation for state and local governments.
To comment on this article or to suggest an idea for another article, contact Courtney Vien at Courtney.Vien@aicpa-cima.com.

20 | Journal of Accountancy November 2022