what is an auditor?
An auditor is someone who has the qualifications necessary to evaluate and ensure the accuracy of a company's financial accounts. In this role, you'll guarantee tax compliance and validate the business actions of your employer to ensure the company is running smoothly.
In an advisory role, you assist your employer in identifying cost-saving measures and risk-aversion methods that improve business success. As an economic specialist, you assess the financial health of a company and provide recommendations to improve revenue and minimize expenses.
what does an auditor do?
All companies require an internal or external auditor to assess financial soundness and ensure compliance with industry regulations. Auditors also work for the government and public corporations to ascertain the proper handling of funds and uncover embezzlement and misappropriation schemes.
In the private sector, auditors act as consultants who ensure financial records mirror the state of an organization. You also provide unbiased evaluations and recommend ways to improve a company's current practices and processes.
Generally, your objective as an auditor is to assist companies in improving operational productivity, mitigating risk, and ensuring compliance. As part of a company’s accounts department, you could work in the banking and finance sectors as well as industries like manufacturing and production.
Would working as an auditor suit your analytical skills? Then read on to find out what competencies and qualifications you need to thrive in an auditor role.
view jobs near youaverage auditor salary
Auditors earn a median salary of $78,000 per year.
factors that impact an auditor salary
There are numerous factors that impact your auditor salary. If you live in a smaller town or city, you'll have a lower cost of living. In this scenario, you'll likely earn a lower salary. On the other hand, auditors who work in large cities should earn higher salaries. For example, auditors in San Francisco and NYC tend to earn more than auditors in a small town with a population of 20,000.
The industry you work in also determines your annual salary. For example, auditors who work in the software publishing or computer manufacturing industries might earn higher salaries than those who work for a government entity. Keep in mind that your salary as an auditor also depends on your experience level as well as the amount of education you have.
Wondering what you can earn as an auditor? Find out immediately with the Randstad salary checker! You can quickly and easily see what the average salary of an auditor is.
types of auditors
You can branch out into various specialisms in your auditing career. Some of the common types of auditors include:
- internal auditors: When you are an internal auditor, your employer dictates your responsibilities. Your role is to review the performance of employees and ensure financial records comply with the company's standards and accounting systems. You also conduct risk assessments and assist managers in making sound business decisions.
- external auditors: As an external auditor, your job is to carry out mandatory statutory or financial audits to determine the accuracy of records. Your responsibility is to ensure the financial records paint an accurate picture of a company's financial situation. The report you prepare provides unbiased evidence of the integrity of a company to its stakeholders.
- forensic auditors: In forensic auditing, your job is to investigate illegal activities and fraud in a company. You can also help organizations determine protection measures to prevent embezzlement and fraud.
- tax auditors: Your work as a tax auditor is to verify the integrity of a company's tax returns. You determine whether a company correctly estimated its tax obligations.
working as an auditor
Becoming an auditor is an exciting career with diverse responsibilities and work environments. Read on to find out how you spend your time as an auditor and whether the role might be something you enjoy.
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auditor job description
Your daily tasks and responsibilities vary depending on the company you work for and your area of specialization. Some of the common duties of auditors include:
- examining accounting records: As an auditor, your primary role is to analyze and review accounting records to ascertain their accuracy. You'll also determine the financial status of a company.
- creating reports: After investigating accounting records, you need to prepare a detailed report on audit findings and recommendations. Your report should also include asset utilization assessments and solutions for improving revenue.
- detecting fraud and illegal activities: Aside from checking the financial health of an organization, you should investigate fraud and embezzlement of funds. You could also help companies with compliance issues and adherence to management policies.
- monitoring risks: Your job is to gauge the financial risk in a company and come up with recommendations to improve the financial position. You investigate processes that consume a lot of resources without producing revenue.
- conducting statutory audits: When you are an external auditor, your job includes conducting unbiased audits to fulfill statutory requirements.
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auditor work environment
Whether you are an auditor in the public or private sector, you will work in an office environment. When you work in a consultancy firm, you have to work from the client's place of business.
You could complete all your work from your desk, but sometimes you need to travel to meet clients and managers. Most auditors work individually, but in large corporations, you might have to work with a team of auditors to complete tasks on time.
If you prefer a hybrid work environment, more and more companies allow auditors to work from home and/or remotely.
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who are your colleagues?
The colleagues you have as an auditor depend on the industry you work in. Your coworkers are primarily other finance professionals who work for the same organization. If you're part of a large auditing team, you might work with tax accountants, forensic accountants, and business analysts F&A.
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work schedule
As an auditor, you will work a full-time schedule of 40 hours a week. Part-time positions are also available in some companies.
Sometimes, you have to work overtime in the evenings and weekends during important times of the year. For instance, in tax season, auditors are busy and have to work long shifts to complete the audits on time.
There are also times when you have to travel to meet clients and visit subsidiaries of your employer. If you like meeting new people or the occasional change of scenery, working as an auditor offers you the chance to do so.
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job outlook for auditor
Auditing is a growing career option fueled by the growth of businesses and the changing tax and regulatory sector.
If you want to be successful in auditing, it's important to adopt technological advancements that enable you to take up complex responsibilities. You can also expand your experience to increase your job prospects.
Auditing is a gratifying career due to its clear career progression from beginner to executive positions. As an experienced auditor, your qualifications can propel you to a management position or a consultant role. When you work in audit firms, build your skills to progress your career and become a partner in the consultancy firm.
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benefits of working for randstad as an auditor
Working through Randstad offers you a range of benefits:
- being paid weekly
- flexibility
- always a contact person you can fall back on and ask for help from
- many training opportunities
- a range of jobs in your area
Want a permanent contract? But you wonder why it would be interesting for you to work with a staffing company? A temporary job as an auditor is often a stepping stone to an attractive permanent job. Every year, thousands of people earn a permanent contract with great employers thanks to a temporary job found through Randstad. What's more, many companies recruit their permanent employees through Randstad too!
auditor skills and education
To land a job as an auditor, you must first meet the necessary education requirements.
Your first goal involves obtaining an undergraduate degree in accounting. Make sure you know how to use spreadsheets and databases before applying for a position. You can bolster your resume by completing a master's degree in accounting, which prepares you for taking the CPA exam.
To act as an auditor in any state, you must receive a certification from that state. Keep in mind that requirements vary. In many cases, obtaining a CPA license before applying for an auditor job is beneficial. To receive this license, you must complete 150 semester hours of courses.
skills and competencies
Can you combine your qualifications with hard and soft skills? Then you are likely to thrive in your career as an auditor. Some of the important skills include:
- analytical skills: Your job is to identify issues in documentation and provide effective solutions. To review the financial records and analyze company processes, you need exceptional analytical skills to investigate and interpret the information at hand.
- organization skills: In auditing, you work with a range of financial records, and sometimes you have to maintain documents from multiple clients. Strong organizational skills help you sort documentation and keep paperwork to provide accurate results.
- communication skills: As an auditor, you work closely with clients and the upper management. Therefore, it is crucial to have good communication skills. You need to understand your clients' needs and concerns to provide solutions. Sometimes, you have to make presentations on your audit findings or write reports, which need proper communication skills.
- math skills: In auditing, you spend most of the day crunching numbers and analyzing records to interpret facts and figures. If you are able to combine math skills, proficiency in data analysis, and accounting skills, you can be successful in your auditing career.
- attention to detail: Mistakes in auditing have severe consequences, including fines and legal actions. You should be attentive to details when examining accounting records to help your clients avoid penalties and liabilities.
FAQs about working as an auditor
Here you will find answers to the most frequently asked questions about auditors.
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what exactly does an auditor do?
Auditors are responsible for analyzing, examining, and interpreting accounting records in order to provide advice and prepare financial statements. You might also need to advise on other types of budgetary or financial data.
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do auditors get paid well?
Auditors have an average salary of $78,000. However, your salary might increase into the six figures with more experience and by working in specific industries.
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do auditors travel?
Depending on the industry you work in, you might travel extensively in your career. Auditing other companies might require you to travel to remote or international locations.
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what are the different types of auditors?
There are four primary types of auditors, which include:
- internal auditors
- external auditors
- forensic auditors
- tax auditors
Auditors tend to work internally for companies that need to strictly maintain and record their financial data.
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what do companies expect auditors not to do?
Auditors aren't responsible for any of the financial statements that they have an opinion on. When an auditor assesses a financial statement, the veracity of it lies entirely on the entity that the statement belongs to.
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is auditor a good job?
Being an auditor is a great career that offers ample opportunity for career advancement and salary raises. When you advance your career, you can become a manager.
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how do I find a job as an auditor?
Applying for a auditor job is easy: create a Randstad profile and search our auditor jobs for vacancies in your area. Then simply send us your CV. If you do not have a resume, no worries. Just check out our resume builder. This state of the art tool will help you to create your own resume. Need help with your application? Check out all our job-hunting tips!
