Auditors review the accounting records, operational data, and financial records of companies to ensure their financial records are accurate and in line with generally accepted accounting principles. Auditors might inspect the accounts of the company they work for or those of other organizations. They identify issues and make recommendations to solve the issues they discover. They might also make recommendations for risk management measures and cost savings.
Auditors must have excellent attention to detail, solid math skills, and strong problem-solving skills. They should work well under pressure and have the ability to work alone or as part of a team. Strong IT skills and exceptional interpersonal and communication skills are also necessary for this role. Auditors must possess good presentation and report writing skills. Auditors can wear many hats when reviewing company financials and must excel at multitasking.
Sample job description
[Your Company Name] is looking for a professional, level-headed auditor to join our team! The auditor will be in charge of meeting with our employees and customers, collecting data, and identifying weaknesses, errors, or problems in the data. The auditor must have a mode of transportation. The duties of the auditor will include analyzing financial documents, meeting with employees and clients, reporting to supervisors, and ensuring efficiency and accuracy in the reporting of data. The auditor must have good communication and problem-solving skills. If this sounds like it describes you perfectly, please apply for this position. We would love to have you on our team!
Typical duties and responsibilities
- Inspect account books and accounting systems for efficiency, effectiveness, and use of accepted accounting procedures to record transactions
- Prepare, analyze, and verify annual reports, financial statements, and other records, using accepted accounting and statistical methods to assess financial condition and facilitate financial planning
- Inspect cash on hand, notes receivable and payable, negotiable securities, and canceled checks to confirm records are accurate
- Review taxpayer accounts and conduct audits on-site, by correspondence, or by summoning the taxpayer to the office
- Examine inventory to verify journal and ledger entries
- Examine and evaluate financial and information systems, recommending controls to ensure system reliability and data integrity
Education and experience
This position requires a bachelor’s degree in accounting, finance, or a related field.
Required skills and qualifications
- Several years of experience in claims auditing
- Advanced computer skills using Microsoft Office, accounting software, and databases
- Ability to manipulate large amounts of data and to compile detailed reports
- Great attention to detail and excellent analytical skills
- Sound independent judgment
- Proven knowledge of auditing standards and procedures, laws, rules, and regulations
Preferred qualifications
- Proficiency with Microsoft Office, Excel and Google Apps experience
- Excellent oral and written communications skills
- Ability to maintain a high level of confidentiality
- Ability to multitask, prioritize, and manage large volumes of requests
- 2+ years auditing company finances
Average salary and compensation
The average salary for an auditor is $91,000 in the United States. Position salary will vary based on experience, education, company size, industry, and market.
| Location | Salary Low | Salary High |
|---|---|---|
| Phoenix, Arizona | $90,500 | $122,450 |
| Los Angeles, California | $102,100 | $138,150 |
| Denver, Colorado | $85,100 | $115,000 |
| Washington, DC | $103,650 | $140,250 |
| Miami, Florida | $84,700 | $114,600 |
| Orlando, Florida | $78,100 | $105,700 |
| Tampa, Florida | $78,900 | $106,750 |
| Atlanta, Georgia | $82,750 | $112,000 |
| Chicago, Illinois | $95,150 | $128,700 |
| Boston, Massachusetts | $102,900 | $139,200 |
| Minneapolis-St. Paul, Minnesota | $82,000 | $110,950 |
| New York City, New York | $108,300 | $146,500 |
| Philadelphia, Pennsylvania | $88,200 | $119,300 |
| Dallas, Texas | $85,850 | $116,150 |
| Houston, Texas | $85,100 | $115,000 |
| Seattle, Washington | $99,000 | $133,950 |
| National Average | $77,350 | $104,650 |
Typical work environment
Auditors will be responsible for auditing data, employees, and clients, in order to achieve financial accuracy in the reporting and overview of data and accounting. The auditor must oftentimes provide documents for the required employees, including balance sheets and audit statements. It is also an important requirement for the auditor to keep track of a company’s spending and provide a report on this in order to improve the overall efficiency of the company. An auditor may also be required to report to a finance director or even the CFO in order to work on improving the efficiency of specific aspects of the company. Oftentimes, this position will be regular work hours and have benefits. Having a mode of transportation is usually required.
Typical hours
The typical work hours for an auditor can be from 9 AM to 5 PM, Monday through Friday in an office setting. However, longer or different hours can be necessary. For example, overtime hours may be required at certain times of the year, like the end of a company’s budget year or during tax season.
Available certifications
Auditors may benefit from having one or multiple of the following certifications. These certifications are relevant to the position and may help with being hired:
- Certified Quality Auditor (CQA). The certified quality auditor certification indicates a professional who understands both the basics and advanced aspects of auditing, financial analysis, and other requirements for the position of auditor. This certification program is verified and endorsed by the NCCA, which means it is widely recognized and beneficial for an auditor.
- Certified Internal Auditor (CIA). The Certified Internal Auditor certification remains the only globally recognized certification for an internal auditor. Because of this, having this certification can be immensely beneficial for an auditor who wants to either work in the internal field or prove their competency in multiple fields.
Career path
The career path for an auditor starts with obtaining a bachelor’s degree in accounting, finance, or a related field. Also, most auditors working for public accounting firms will need to earn the Certified Public Accountant (CPA) designation by passing the Uniform CPA Exam set by the American Institute of Certified Public Accountants (AICPA). Internal auditors may not always need this designation, but it is generally encouraged.
US, Bureau of Labor Statistics’ job outlook
SOC Code: 13-2011
| 2020 Employment | 1,392,200 |
| Projected Employment in 2030 | 1,488,200 |
| Projected 2020-2030 Percentage Shift | 7% increase |
| Projected 2020-2030 Numeric Shift | 96,000 increase |
Position trends
Demand for auditors and accountants should increase as global business grows, as with that comes more scrutiny. As companies grow and sometimes merge, there should be a need for qualified auditors to review increasingly complicated financial records.
Also, according to Surgent Professional Education, the use of automation and AI is growing in the auditing sector, which doesn’t necessarily mean that technology will replace humans. It’s more likely AI will excel at performing lower-risk, lower-skill functions, while humans will be focused more on higher skill-level areas of the auditing process.
Sample interview questions
- How would you describe your typical process of auditing and the workflow of a successful auditor?
- Why do you want to work for [Your Company Name] as an auditor?
- If you found some conflicting data within your reports, how would you go about investigating and rectifying it?
- Can you give an example of a situation where the data you presented was used to make changes in a company?
- What are some auditing software you are the most familiar with?
- Do you have any relevant certifications which prove your experience as an auditor?
- Do you have any previous experience as an auditor, or a relevant degree if not?
- How do you reduce the number of errors in your auditing?
