Do you have a head for numbers and an eye for details? Do you enjoy finding and solving problems creatively? If so, joining an organization as an Auditor might be an excellent fit for your talents.
Auditors play a vital part in officially inspecting an organization’s accounting, financial, and operational data to determine if it follows generally accepted accounting principles. Auditors also identify and, at times, solve issues that may exist. The heart of the Auditor’s role is to use accepted accounting and statistical procedures in reviewing reports and financial statements, as well as cash on hand, checks, notes receivable and payable, and more, to evaluate a company’s transactions and numbers.
Auditors need to wear many hats when reviewing company financials, and candidates who excel at it must have excellent attention to detail as well as skill at multitasking.
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 Background
This position requires a bachelor’s degree in accounting, finance, or a related field.
Skills and Proficiencies
- 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
According to Payscale the median annual salary of an Auditor with
1 Year of Experience:
- Orlando, Florida: $50,000
- Tampa, Florida: $60,000
- Jacksonville, Florida: $50,000
- Miami, Florida: $60,000
- Atlanta, Georgia: $68,000
- Chicago, Illinois: $70,000
- Houston, Texas: $75,000
- Los Angeles, California: $60,000
- New York City, New York: $70,000
- Seattle, Washington: $70,000
- Overall: $68,000
5 Years of Experience:
- Orlando, Florida: $61,000
- Tampa, Florida: $72,000
- Jacksonville, Florida: $64,000
- Miami, Florida: $75,000
- Atlanta, Georgia: $80,000
- Chicago, Illinois: $88,000
- Houston, Texas: $85,000
- Los Angeles, California: $85,000
- New York City, New York: $87,000
- Seattle, Washington: $90,000
- Overall: $80,000
Similar Job Titles
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.
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.
The accounting and auditing services sector is expected to grow stably at six percent through the year 2028 according to the U.S. Bureau of Labor Statistics. This is an average growth rate, but a stable one for candidates interested in this work.
The typical work hours for an Auditor can be from 9 a.m. to 5 p.m. 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.
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