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.
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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