While these two occupations are similar and often confused, there are some noticeable differences between being an accountant and an auditor. regulations apply in respect of financial years beginning on or after 1 January 2016 whereby the ... knowledge and experience and provided the … In fact, most chief financial officers tell us that talent shortages are severe, including in professional and financial services. // > See for more information Accounting Basics. Acting as an auditor while not qualified to do so is a serious criminal offence. Bookkeeping involves maintaining a detailed ‘history’ of transactions as they occur. Also, many accounting firms provide training and assistance to employees when they are preparing for the exam. Bookkeeping focuses on recording and organising financial data, while accounting is the interpretation and presentation of that data. It is recording or first phase of an accounting system. //