Professionals who supervise company offices that consult with business clients on how to comply with established accounting standards are known as advisory services managers. These managers can work with customers in a variety of industries, including healthcare, higher education, and manufacturing. To work as an advisory services manager, you must have completed a four-year bachelor’s degree program in finance and accounting. Managers primarily aim to protect customers from the legal ramifications of improper financial practices. They also supervise others and complete ongoing training in this ever-changing field.
An advisory services manager’s primary goal is to assist businesses in ensuring that they are complying with major financial industry regulations. These rules describe how businesses should follow accounting principles and report their financial results. An advisory service manager essentially assists his or her clients in developing plans to efficiently audit their financial books internally in order to avoid legal issues.
Another service area that falls under the purview of an advisory services manager is fraud investigation. Someone in this position at a company might plan forensic accounting projects, which is a field that combines finance skills with investigative expertise to identify illegal bookkeeping activities at a company. Managers in this field, for example, work to prevent practices such as the misappropriation of company funds.
A major role of advisory services managers is to lead teams that work with financial clients to prevent monetary risk. He or she is in charge of delegating tasks to team members and setting deadlines for various phases of daily projects. He or she must also initiate performance reviews to inform employees of their progress on customer work, in addition to coaching subordinates on how to comply with company standards.
Being up to date on changing financial reporting laws is also an important part of an advisory role. To keep up with new legal developments in the field, a manager who provides consulting services to businesses should attend public accounting conferences and complete continuing education college courses. Instructors will discuss new industry technologies with an advisory services manager, including how they can help firms analyze and inspect their accounting records more accurately and on a regular basis.