Lately, the Republic of Lithuania has seen a rapid development of hi-tech businesses be it IT startups, medical research, laser industries, or else. Besides, many foreign companies keep coming to Lithuania, opening their offices here. And among all of these entities, there is quite a demand for financial specialists, namely accountants. And while this career path is surely profitable, starting it in Lithuania requires certain efforts.
Steps to become an accountant in Lithuania
Step 1: Education
The first and obvious step to becoming an accountant in Lithuania is to obtain a relevant education. In Lithuania, the most common pathway is to obtain a bachelor’s degree in accounting or finance. You can do this by enrolling in a university that offers an accounting or finance program. Some of the best universities to study accounting in Lithuania include Vilnius University, Kaunas University of Technology, and Mykolas Romeris University. Keep in mind that any finance-related education could be considered relevant when applying for an accountant position.
Step 2: Professional Experience
Once you have completed your education, it’s time to gain professional experience in accounting. In Lithuania, the requirement for professional experience is typically around three years. You can gain this experience by working in an accounting firm, in the accounting department of a company, or by starting your accounting practice. In Tezaurus we offer career opportunities for juniors seeking to gain experience in this field.
Step 3: Certification
To become a certified accountant in Lithuania, you must pass the Lithuanian Association of Accountants and Auditors (LAAA) certification exam. It consists of two parts: a written test and a practical test. The written test covers topics such as financial accounting, managerial accounting, taxation, and auditing. The practical test requires you to complete a real-world accounting project.
Step 4: Continuing Education
After obtaining your certification, it’s important to keep improving your qualifications to stay up-to-date with changes in accounting regulations and standards. The LAAA requires certified accountants to complete at least 40 hours of continuing education every two years.
Step 5: Join a Professional Association
Joining a professional accounting association in Lithuania, like any association, is beneficial for networking, staying up-to-date on industry trends, and accessing resources such as job boards and training programs. The LAAA is the largest professional accounting association in Lithuania. But, depending on your specialization, there are other options to consider, like the Lithuanian Chamber of Auditors and the Association of Financial Analysts.
Generally speaking, there is nothing extraordinarily difficult about starting a career as an accountant in Lithuania. It might take some time to get all the required competencies and experience, but becoming a professional in this field is an almost certain guarantee of a financially stable future. Demand for accountants in Lithuania has also been rising in terms of payroll and audit services.
