Auditor jobs

What does an auditor do? Graduate salary; typical employers; qualifications and training; key skills; and other relevant information are provided.

Auditors examine the financial records of businesses and other organizations to verify that these entities' books and records are accurate and in accordance with applicable regulations. They may be auditing the financial records of their own employer or those of another organization. In addition, they may serve in a consultative capacity by making recommendations about risk avoidance strategies and cost reductions.

Typical tasks consist of the following:

assembling, validating, and doing analysis on the spreadsheet data

auditing the company's books as well as its financial management systems

determining how much of a financial risk an organization is willing to take

ensuring that all of the reports and documents pertaining to the finances are accurate and trustworthy

guaranteeing the safety of one's possessions

determining which, if any, of the processes are not operating as efficiently as they should be and providing recommendations for improvements.

putting together documents like reports and opinions as well as financial statements

coordinating with the management team, as well as presenting research results and making suggestions

ensuring that all rules, processes, laws, and regulations are adhered to in the proper manner and are followed to the letter.

carrying out investigations into pay rates.

Auditors usually work the conventional office hours, with the possibility of working overtime or on weekends during exceptionally busy periods, such as the conclusion of the fiscal year. They may be needed to work from the location of their client's business while conducting audits on behalf of their clients.

Graduate wages

The remuneration of auditors are not consistent no matter where they work or who their employers are. For example, the National Audit Office gives a starting wage of £29,000 in London and £24,000 in Newcastle. However, you may anticipate greater rates of compensation from companies such as the Big 4 professional services organizations (Deloitte, EY, KPMG, and PwC).

A recent salary survey conducted by the recruitment agency Hays UK found that senior qualified auditors in the public practice of a private accounting firm earn an average salary ranging from £33,000 to £49,000, and directors earn an average salary ranging from £70,000 to £110,000, depending on their location (with the lowest figures offered in Wales and Northern Ireland and the highest in London and the south east of England).

Employers who typically hire auditors

Auditors may come from either inside an organization or from the outside.

It's possible for internal auditors to work in:

professional service providers that are contracted by other businesses.

internal to an organization as a member of that company's accounting team

for very big privately held businesses, organizations, and charitable institutions

Auditors from the outside may work in:

with the assistance of independent accounting companies

for the National Audit Office, where they are responsible for carrying out mandatory audits of the many entities that fall under the purview of the government.

Qualifications and experience are expected of applicants.

There are paths into a profession in auditing that are available to those who have graduated from college as well as those who have left school, however these paths change depending on whether an individual is interested in internal or external auditing.

To become an external auditor, one must first become a chartered accountant via one of the several professional accounting bodies. Please refer to our accountant job description for more clarification on how to proceed with this matter.

Alternately, if you want to work as an auditor in the public sector, you may become certified by the Chartered Institute of Public Finance and Accountancy (CIPFA).

In addition, if you work for the National Audit Office, which provides a three-year graduate plan, you have the opportunity to study for a professional accounting certification at the same time.

The completion of your education might take anywhere from three to five years, but throughout that time you will be employed. Exam preparation is often assisted monetarily by employers, who also frequently provide paid time off and study leave.

Accountancy expertise is not a prerequisite for working as an internal auditor. You are eligible to apply with a degree in any field, although degrees in fields such as accounting, economics, and information technology are very helpful. Those who have left school might join the workforce by beginning their careers as apprentices or trainee auditors.

Key skills for auditors

Meticulous attention to detail.

A high ability in the area of mathematics.

Excellent problem-solving abilities.

A strong desire to understand how the economy works.

Capacity to meet deadlines and work effectively under duress.

Capability of working both independently and cooperatively within a group setting.

Strong IT skills.

Excellent interpersonal and communication abilities, especially the ability to convey information effectively and write accurate reports.