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Description of the Job, Salary, and Requirements of an Auditor

Auditor Job Description
An auditor is a finance professional who verifies the accounting records of a particular business or an organization. The article given below deals with the job description of an auditor along with other relevant information.
CareerStint Staff
An audit is basically a verification and evaluation of an individual, organization, product, or project and is performed to ascertain reliability and validity of the information provided. Basically, audits are associated with accounts department of any firm, but they can also be performed for verification of quality management, project management, etc. In short, an audit is an independent assessment of the fairness of profit and loss provided by the management of a company. An auditor is a professional who is authorized and specially appointed for examining accounts and accounting records, verifying balance sheets, income items, etc., and is also responsible for issuing the audit report. Given below is a brief discussion on auditor job description.
Job Description of an Auditor
  • An auditor is basically a type of accountant who is responsible for verifying the financial records of a company.
  • He has to study the financial records, check the company's bookkeeping and accounting methods, compare company's books with records stated in banks, creditors, brokers, etc.
  • Thus, the main objective of an auditor is to analyze and prepare reports on profits, income tax savers, and management cut costs.
  • There are two types of auditors, external and internal.
  • An internal auditor works as an employee of a particular company and receives salary for all audit-related work.
  • An external auditor, however, is an independent auditor who audits for self-employed individuals and public accounting firms. External auditors usually audit for a company, once in a year.
  • In general, an auditor has to prepare a detailed audit report.
  • He has to review accounts of taxpayers and also conduct on-site audits.
  • It is his duty to collect and analyze the data to find out if there is any fraud, violation of laws, regulations and management policies, duplication, etc.
  • He is responsible for inspecting the account books of a company for analyzing the transactions and efficiency of the accounting procedures.
  • He has to report the management of the company regarding the audit results and suggest changes in financial activities and operations of the company.
Requirements
  • To become an auditor, one has to obtain a bachelor's degree with accounting as the major subject.
  • Economics, computers, humanities, communications, etc., are some of the courses that can prove helpful to a student who is aspiring to become an auditor.
  • Many public accounting firms also demand their external auditors to obtain a Certified Public Accountant (CPA), a designation provided by the state government.
Auditor Salary Range
  • The salary of an auditor is governed by several factors, like employer type, geographical location, years of experience, and educational qualifications.
  • The tables given below provide figures for average annual salary of an auditor depending on years of experience and employer type.
Employer Type Auditor Salary
Company USD 65,000 to USD 75,000
Federal Government USD 55,000 to USD 65,000
Contract USD 45,000 to USD 65,000
State Government USD 50,000 to USD 58,000
Educational Institution USD 40,000 to USD 60,000

Experience (In years) Auditor Salary
Less than 1 USD 40,000 to USD 50,000
1 to 4 USD 45,000 to USD 55,000
5 to 9 USD 55,000 to USD 75,000
More than 10 USD 65,000 to USD 90,000

This was all about an auditor job description. To become a successful auditor and for good career opportunities, one should have good analytical, organizational and communication skills, and the ability to work under tremendous pressure. Moreover, an auditor should also be trustworthy and should possess good understanding of business skills.
Businessperson Calculating Invoice At Desk
Woman in red using pen and calculator on financial documents