Do you have a head for numbers and an interest in business?
If so, working as an auditor could be the perfect career move for you. This role basically involves analyzing company records and making recommendations to boost sales and productivity.
Although most auditors work in finance, there are also several other industries you could work in. However, you need specialist skills to do this job as well as a lot of attention to detail.
To discover if this could be the perfect job for you, check out my in-depth…
Auditor Job Description
A typical job description for this role will start by providing an overview of the company and department. This is likely to be the financial department of a large organization. The working conditions, the people you will work with, your base salary, and working hours should be clearly stated.
There should be an overview of the types of tasks you would be expected to complete regularly. The job description should state the education, training, and experience that applicants need to have. There are also likely to be details of the skills and experience the employer is searching for in the right candidate.
Duties And Responsibilities
It is important to have a good understanding of the tasks you will be expected to do regularly. In many cases, you will be working alone and need to be able to complete your tasks independently. Here are some of the duties and responsibilities you are likely to be expected to execute.
You will liaise with PTA board members when preparing for an audit. You need to make sure that everyone involved organizes the unit’s records. Materials that need to be collected include financial records and reports, as well as the minutes of meetings.
Overseeing and Conducting Audits
You are likely to oversee both internal and external audits. This includes reviewing reports, records, software, and any other activities and programs that are controlled by regulations.
You will be responsible for analyzing the potential risks within areas of the company that could violate compliance laws. This can include reviewing the risk assessment studies that are conducted by government agencies and professional organizations to measure the possible risk potential of the company.
Maintaining Compliance Records
You need to keep a detailed record of any violations that have been reported against the company, along with responses and plans. This will involve analyzing the existing compliance records and making the necessary updates. You also need to record compliance training that is conducted by company employees.
You will need to create a detailed report for the PTA board to review and adopt. You will usually present this report in a PTA meeting.
After an audit, you will create a report of the recommended changes to practices and procedures. These are usually practices that do not comply with state regulations. You will also help to create a plan that addresses these necessary changes.
Skills And Attributes
You need to have a deep understanding of industry operations and practices to do this job. You also need to develop a range of soft skills to be able to complete your tasks more efficiently. Ideally, successful auditors should possess the following skills and attributes.
You will need to analyze, evaluate, develop, and implement new control systems. Regularly review training materials and make sure compliance guidelines are followed. You will also need to understand the different potential risk levels and how to address them.
You are likely to have a large number of documents that you need to review. It is essential to be able to keep documents separate and well-organized. Mixing up the documents from different clients could be a disaster.
You are often likely to have to work to strict deadlines, especially around tax season. You need to be able to prioritize different tasks so that everything is completed on time. In some cases, this may involve working overtime or taking your work home with you.
You need to be able to create clear and detailed written reports. From time to time, you may also need to present your findings in meetings. It is important to be able to present complex information clearly and simply.
You need to be able to use Excel to create and interpret spreadsheets. You are also likely to have to use the various features of Microsoft Word regularly. The company you work for may also have special accounting software that you have to master.
Qualifications And Advancement
The first step on this career path is gaining a Bachelor’s Degree in finance or accounting. After that, gaining a Certified Public Accountant credential will help you gain access to better auditing jobs. You will need to complete a set number of college coursework hours to get this and pass a national exam.
After this, there are several different routes you can take to get fully qualified and gain experience. You can gain a qualification from the Chartered Institute of Public Finance and Accountancy. This will allow you to work in the public sector.
Special 3 Year Graduate Scheme…
The National Audit Office offers a special three-year graduate scheme. This allows you to gain work experience while studying for a professional accounting qualification.
The Working Environment
Traditionally, this role takes place in an office setting. You are likely to work closely with upper management or administrative personnel like Chief Financial Officers or Chief Information Officers. While you will usually work around forty hours a week, you may need to work overtime during the tax season.
These days, it is also possible to do this job remotely. If you are good at working independently and do not want to be distracted, this could be the perfect option. However, you may have to travel to your client’s place of business for meetings from time to time.
Important Interview Advice And Guidance
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It can take up to five years to become fully qualified to work as an auditor. Fortunately, most programs allow you to gain work experience and a salary while you work. The starting salary for this role is typically around $42,000 per year.
After a few years, you can expect to earn at least $67,000 per year. It is worth taking the time to keep your skills and knowledge up to date. If you do this, you could advance to a senior position and earn more than $100,000 per year.
All the very best working as an Auditor!