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Auditing is a type of accounting job. An auditor’s chief job is verifying the financial records of the company he or she works for. Auditors research different sources to learn whether a company’s record reflects its actual financial condition. These professionals examine the bookkeeping and accounting methods of the company and analyse the records. The objective analyses conducted by the auditors help the company in cost-cutting, saving taxes and increasing profits. Therefore, an auditor is entrusted with crucial responsibilities. In order to fulfil the significant tasks, an aspiring auditor must possess relevant qualifications and skills. After proceeding with the discussion of the qualifications and skills required for an auditing job, let us know about the types of auditing jobs. Types of Auditing Jobs Auditing jobs are of two types- external auditor and internal auditor. External auditors- external auditors are also called independent auditors since they can be self-employed. However, these auditing professionals can work for public accounting firms as well. Government agencies and private organisations employ external auditors on a contractual basis. The auditors carry out the verification of financial statements followed by their certification. Large-scale and successful companies have their accounting books audited once every year. There is an advantage of independent auditing. It offers creditors and shareholders valuable inputs and advices on a company’s financial condition. Internal auditors- the responsibilities of an internal auditor are same as that of an external auditor. However, internal auditors work in house. These professionals perform the · Evaluation of their company’s financial system · Analysis of all financial records (accounting books, inventory records and payroll records) Internal auditors ensure the smooth functioning of the accounting policies and whether any modifications are necessary. They are responsible to report to the management on the changes. If you wish to become an auditor, you can consider these options. Qualifications necessary to be an Auditor In order to become an auditor, one must acquire a bachelor’s degree in any of the disciplines such as finance and accounting and economics. Supplementary courses increase the expertise and enhance the resume. An advanced degree like a master’s degree in business administration may boost career opportunities. What the employers demand? Most accounting firms require certified external auditors to fill their financial services vacancies. The auditors need to pass their state’s certification examination. The examination is tough and constitutes a very low pass rate. Therefore, you should ensure to prepare well to succeed with good grades. The main requirement for this examination is college-level coursework for a certain time period (it is 150 hours in most states). Skills required The skills that are required in an auditor are · Numerical · Research · Analytical · Problem-solving · Organisational Honesty and reliability are the two signs of a good auditor. Working conditions Auditors are required to travel extensively in order to work in their clients’ offices. They work a standard 40-hour per week. Salary and Job Benefits The average annual salary of an auditor is around £35,000. Internal auditors have job benefits like paid holidays, health insurance and pension plans. Author Bio Lisa Wordsworth is a legal recruitment advisor. She has her own blogs where she deals with topics like auditing jobs, accounting jobs and other financial services. While writing on these topics she gets inspiration from Barclay Simpson.
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