Auditor Job Description: Top Duties and Qualifications

Last updated: June 22, 2022

An Auditor, or Junior Auditor, is a financial specialist who performs audits on financial accounts for companies and organizations to ensure the validity and their financial data. Their duties include examining financial statements for accuracy and legal compliance, preparing tax returns and analyzing account books and accounting systems for corporations to ensure efficiency and accuracy.

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Auditor duties and responsibilities

Auditors do more than keep track of the company’s financials. Depending on the size and needs of the company, they will:

  • Diligently keep a systematic check on the company’s spending to improve organizational efficiency.
  • Prepare balance sheets and audit statements.
  • Prepare all documents related to finance.
  • Conduct and attend regular meetings with senior management to share financial findings.
  • Keep a check on processes and regulations, ensuring compliance with financial policies and regulations.
  • Travel to client sites for auditory reviews and assessment.
  • Provide a qualitative and quantitative evaluation based on empirical data findings.
  • Work closely with the Director of Finance and the CFO to increase the financial efficiency of the company.
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What does an Auditor do?

An Auditor is a professional that companies hire to review their financial documents, data, statements and accounting entries for accuracy and legal compliance. Auditors research and gather information from an organization’s account balances, various financial statements, balance sheets, financial reporting systems and tax returns. Using this information, Auditors ensure there are no gross errors or fraud and that the company’s financial data is presented in a fair and accurate way. These financial professionals work either as independent contractors or are hired as part of a company’s financial department.

Auditor skills and qualifications

Candidates with accounting, business, taxation law certifications and other relevant courses may be stronger candidates. Other skills may include:

  • Interest and ability for math and financial systems
  • Ability to make independent decisions, staying objective at all times
  • Good knowledge of spreadsheets and excellent presentation skills
  • Thorough understanding of business requirements and problem-solving skills
  • Practical and excellent communication skills

Auditor salary expectations

An Auditor makes an average salary of $66,447 per year without factoring bonuses, commissions and overtime. The salary of an Auditor is subject to changes in market value and the urgency of the role. The average tenure for a person in this position is one to three years. 

Auditor education and training requirements

A person who applies for the role of an Auditor should at least have a bachelor’s degree in accounting, finance or an equivalent. Candidates with a master’s degree in accounting or equivalent may be preferred. The ideal candidate should be a certified public accountant (CPA) or certified internal auditor (CIA).

Auditor experience requirements

The person applying for the Auditor’s role should have at least 1 to 3 years of work experience with a private or public company. They should also have 1 to 3 years’ experience handling complex auditory requirements independently or in a team. The best candidate is someone who has worked previously with or under a finance head, CFO or someone who was directly responsible for overseeing all financial obligations in the company. Thorough experience in developing financial reports and compliance is desirable.

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Frequently asked questions about Auditors

 

What qualities make a good Auditor?

A good Auditor is knowledgeable on various aspects related to an organization’s financials and is committed to upholding integrity in every aspect of their work. Common qualities that good Auditors share include:

  • They have the required certifications needed to perform their tasks and are knowledgeable in taxation, business and accounting law.
  • They work well independently and make decisions based on the result of careful analysis of an organization’s financials and operations without allowing external or personal opinions to interfere.
  • They quickly adapt to a variety of company structures and successfully identify how an organization runs in order to best perform their auditing duties.
  • They are excellent communicators and effectively communicate in a variety of ways, including via written and verbal communication.

 

Do Auditors have different responsibilities in different industries?

An Auditor’s responsibilities may vary based on the industry they work in. For example, a Forensic Auditor spends most of their time looking for and preventing financial fraud, while a Corporate Auditor is primarily concerned with keeping the corporation’s financials in check. Some Auditors may also take on an advisory role and make recommendations as to how an organization can make cost-saving decisions and avoid financial risks.

 

What are the different types of Auditors?

There are four primary types of Auditors which include:

  • Independent Auditors: Also referred to as External Auditors, Independent Auditors work independently for a variety of organizations. They are requested to come into a company and perform various auditing duties and provide an unbiased audit of the company’s financials. Common entities that use Independent Auditors include investors and government agencies.
  • Internal Auditors:  Internal Auditors work as a direct part of their employer’s finance department. These professionals are in-house experts who provide daily auditing services for their company.
  • Government Auditors: Government Auditors work for government agencies and examine and maintain the financial records of these agencies. Government Auditors may also audit private persons or organizations.
  • Forensic Auditors: Forensic Auditors work with law enforcement agencies to identify and prevent financial theft and fraud.

 

Who does an Auditor report to?

Where the Auditor works will determine who they report to in their daily work life. Independent Auditors generally don’t report to anyone, but rather work alongside an organization’s finance team when performing their auditing duties. Internal Auditors may report to upper management or C-level executives within their company.

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