what does an auditor do?


What does an auditor do?

  • An external auditor performs the same tasks as an internal auditor, but external auditors are employed by a third party to ensure their financial report is independent and unbiased. This is a significant distinction when preparing reports for investors or potential investors.

  • Employees usually start as an external auditor before hired internally for a company.

  • Audit financial statements and assess accounts for accuracy and regulatory compliance.

  • Inspect client systems and controls and assess risk management tactics.

  • Explain audit findings and recommend solutions.

  • Could perform audits of non-financial areas, like IT.

  • Investigate specific issues and report systematic errors or potential fraud indicators.

Common Requirements

  • Bachelor’s degree in Accounting, Finance or related required

  • CPA or CIA certification required

  • Excellent critical thinking and problem solving skills

  • Strong organizational and project management skills

  • Firm understanding of Sarbanes-Oxley Act and other financial regulations

  • Knowledge of accounting best practices and principles (e.g. GAAP, IFRS)

  • Excellent computer skills, particularly Excel

  • Ability to continue education on industry standards

National Average Salary

The average salary for an Auditor is $66,725 per year in the United States in 2019.

*Our salary estimates are based data collected anonymously and varies greatly by experience, location, industry and other factors. These estimates should only be used as a guideline and only given to the for the purpose of general comparison only.

 

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