If you have great attention to detail, good numerical skills, and you’re fascinated by detective work (but aren’t so interested in the whole danger part of police work!), auditing might be a great career choice.
Alternative, but related, titles might include Accountant controller, but there is major difference between accounting and auditor roles: Accountants generally work in-house and fulfill all of the accounting-related duties of the organization and often report to a higher-level accounting or finance professional. Accounting policies and practices are implemented and reviewed on a regular basis as part of the standard accounting department’s responsibilities.
Auditors, on the other hand, typically work for a separate organization that performs independent assessments of a company’s accounting practices and books. Audits may be performed on a quarterly or annual basis as a standard practice, or ad hoc as the result of suspected fraud. Auditors are the ones that everyone refers to by saying, “The auditors are coming!” because their job is to figuratively look over the shoulders of the accounting team to make sure everything is done according to standard accounting practices.
- Ensure compliance with established accounting policies and procedures
- Assess the effectiveness of internal control systems.
- Verify assets and liabilities by reviewing supporting documentation
- Prepare detailed reports outlining the results of the audit and make recommendations as necessary
- The average salary of an Auditor is $70k
- The compensation ranges of an Auditor is between $40 – 90K+
The auditing field is no different from many other occupations – technology rules the future. Accounting departments are increasingly using automated processes and artificial intelligence to take over many of the repetitive duties.
Medical billing and collections, accounts payable and financial analysis will continue to need skilled auditors.
Manager, director, controller or CFO may be typical stepping stones, but project consulting is a growing opportunity for anyone looking for more control over the type of work and clients or companies.
What Can Set A Candidate Apart?
- Investopedia.com states that “preternatural” detective skills are extremely valuable for auditors (back to the police stuff!).
- Maybe a little less exciting, but still valuable is revenue accounting and SEC (Securities and Exchange Commission) experience
Common Skills and Proficiencies
- First and foremost, an auditor must have excellent accounting skills in order to know what to look for; typically gained through several years of experience
- In-depth knowledge of accounting software and excellent math/numerical skills
- Very strong ability to focus and manage large data files
- Knowledge of auditing practices and accounting standards
Frequently Required Credentials and Education
- CPA (Certified Public Accountant) is the most recognized certification and is a big plus for many jobs. But there are specialized certifications in a variety of fields that would certainly make a candidate shine. Who says it must only be in Accounting – check out a CISA (Certified Information Systems Auditor)
- Bachelor’s degree in Accounting or related field
The accounting field, in general, has many opportunities but job availability may be impacted (positively or negatively) by the economy. A strong economy may see the numbers of accounting professionals rise while, conversely, a poor economy may make it more challenging to find work.
Generally speaking, auditing jobs are expected to grow at a rate of approximately 10% through 2026 which is slightly higher than all occupations.
Get out that funny hat and magnifying glass and detect!
Looking to Find a Job as an Auditor?
4 Corner Resources is an Orlando staffing agency that can connect you to your next career! We will assign you an accounting recruiter or finance headhunter to fill our current job openings! We have a variety of contract and direct hire roles for our clients across Orlando and the U.S. Contact us today!