The technical accountant usually works within ﬁnancial control. Their remit is to add value to the business by providing commercial accounting advice to a bank. Technical accounting tends to comprise of specialists in International Accounting Standards (IAS), US GAAP, Irish & UK GAAP and IFRS.
Why choose technical accounting?
The increase in demand for individuals with a strong understanding of technical accounting issues has been fuelled by the introduction of IAS and IFRS. These rules govern the way in which trades are executed and accounted for and have a direct impact on the proﬁtability of a bank. A career in a technical accounting team will allow you to develop a thorough understanding of the latest developments in this area and how they impact the bank.
A career in a technical accounting team will allow you to develop a thorough understanding of the latest developments in this area and how they impact the bank. Technical accountants very often form part of front ofﬁce teams where their role is to devise ways in which to use accounting regulations to enhance a bank’s proﬁtability or advise on the accounting rules that could prevent a trade being executed. This involves signiﬁcant contact across the bank, including front ofﬁce, legal, compliance as well as all other areas of ﬁnance.
As the skill set remains fairly rare in the marketplace there is a premium paid for individuals who have developed a detailed knowledge of this area.
Technical accountants can move into multiple areas within a bank:
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