Companies are compelled to comply with laws and regulations. Complexity in record keeping and reporting requirements in a fast-changing environment has gone sky-high, and going global seems inevitable. Skilled accountants in high demand have a set of qualifications that set them apart. They are up to date in their knowledge of laws and regulations. They manage data coming from financial and non-financial sources. Special developments enable them to reach conclusions from a sample of information and infer it to a whole population. These skills are a by-product of being proficient in technology and data mining applications.

Another factor that positively affects the demand for accountants with a global mindset, is the roadmap set forth by the Securities and Exchange Commission, SEC for gradually incorporating International Financial Reporting Standards, IFRS. This roadmap will allow limited number of US issuers to prepare financial statements using IFRS rather than GAAP, Generally Accepted Accounting Principles.  The SEC initiated this process by allowing international companies to submit their SEC filings without reconciling them with GAAP.

Market research proves that qualified accountants are welcome in a weak economy. For instance, Jobfox identifies the 20 top professions that are best able to weather continued job erosion in the weakened US economy. It ranks the 25 professions in greatest demand by recruiters and other employer agents through a report called Jobfox Top 20 Most Recession-Proof Professions.

It is not surprising that within the top five Recession-proof professions, two are accounting related: Accounting and Finance Executive (4) and Accounting Staff (5).

Every day the news reveal a new fraud scandal and with it, the need for financial investigations that ascertain blame and search the missing pieces of a puzzle that can be completed only with the abilities and critical thinking of forensic accountants and fraud examiners.  Today, lack of opportunities is a concern only for those who have become complacent with themselves, doing nothing to enhance their inventory of skills. Recession calls every one, but especially those who want to excel, to a diligent search for the improvements required to cope with the market expectations. Not only technical and academic knowledge, but also communication skills are a paramount in a recession economy that weakens in the overall but that strengths demand for those called to attest the truthfulness of financial information.

When crises arise, the response is being equipped with an inventory that goes beyond the traditional knowledge of accounting. The global economy can be recession-proof for those who store in their inventory the following assets: 

o Knowledge of accounting packages and delivery of online information in real-  time
o Ability to work in a global environment
o Web and computer knowledge, emphasis in accounting information systems
o Powerful networks that connect them with sources of the latest information
o Ability to deal proactively with regulators, shareholders, and other stakeholdersO Open-minded to change without compromising
o Continued professional education
o People-oriented
o Critical thinking.

The forces driving of the market are available to every accountant. seek out opportunities in a field that is in demand, for example, Forensic Accounting. Meet the market, welcome a new mindset, and become global!