Role of the Financial Professional

The increased availability of readily accessible information has provided financial professionals with news of changes in the industry that can impact their roles. Fortunately, immediate access to changes in laws, regulations, and standards is available through the websites of both federal and state governments, as well as professional associations that support the accounting and financial industries.

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Evaluate the evolving role of the financial professional and analyze resources provided by professional organizations and trade associations within the finance industry.

  • Consider the following:
    • How professional organizations and trade associations within the finance industry can provide support to financial professionals
    • How the roles of financial professionals have evolved over the years
    • The role of the financial professional as a partner with other organizational departments
    • The role of the financial professional in fact-based decision-making processes

Answer the following questions:

  • What support and resources do the professional organizations and trade associations offer to current and aspiring financial professionals?
  • How best can you apply this information to your academic and professional pursuits?
  • In your opinion, how has the role of the financial professional evolved in terms of:
    • Fact-based, decision-making processes within organizations
    • How the financial professional is expected to communicate and partner with other organizational departments

This site offers a document that provides both background and current information on International Financial Reporting Standards, detailing how the changing standards are impacting the accounting industry.

  • Financial Accounting Standards Board. (n.d.-a). Facts about FASB. Retrieved from http://www.fasb.org/jsp/FASB/Page/SectionPage&cid=1176154526495This website provides the background of the Financial Accounting Standards Board (FASB) and discusses its role as an independent entity in the oversight of financial reporting.
  • Financial Accounting Standards Board. (n.d.-b). Online comment letters. Retrieved from http://www.fasb.org/jsp/FASB/Page/SectionPage&cid=1218220137090
  • Public Company Accounting Oversight Board. (n.d.-b). Standards. Retrieved from http://pcaobus.org/Standards/Pages/default.aspxThis website lists the standards of the Public Company Accounting Oversight Board (PCAOB), which was formed as a result of the passage of the Sarbanes-Oxley Act.
  • U.S. Securities and Exchange Commission. (n.d.). Retrieved from http://www.sec.gov/The official website of the Securities and Exchange Commission (SEC) provides information about the government agency tasked with regulating the securities industry, which, along with the accounting and financial reporting industry, has received increased oversight in recent years.

Provide cited references