Auditor Career Guide

What is an auditor?

Do you have a head for numbers and an eye for details? Do you enjoy finding and solving problems creatively? An auditor position might be an excellent fit for your talents. Auditors are vital in inspecting an organization’s accounting, financial, and operational data to determine if it follows 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, 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 must have excellent attention to detail and multitasking skills.

Auditors will be responsible for auditing data, employees, and clients to achieve financial accuracy in the reporting and overview of data and accounting. The auditor must oftentimes provide documents for the required employees, including balance sheets and audit statements. Auditors are also responsible for keeping track of a company’s spending and providing a report on this to improve the overall efficiency of the company.

Duties and responsibilities

The roles and responsibilities of auditors vary greatly based on their position, organization, and industry. One common task is inspecting account books and systems to ensure efficiency, effectiveness, and use of accepted accounting procedures to record transactions. Auditors evaluate financial and information systems and help recommend controls to ensure system reliability and data integrity. 

Auditors prepare, analyze, and verify annual reports, financial statements, and other records, using accepted accounting and statistical methods to assess the condition and help with financial planning. In finance, auditors may also inspect cash on hand, receivables and payables, and any canceled checks to confirm accuracy. 

Another common responsibility for auditors is reviewing taxpayer accounts and conducting audits on-site by correspondence or summoning taxpayers to their office to do a deeper dive. They may also examine inventory to verify journal and ledger entries. 

Work environment

Auditors typically work in an office setting but may work remotely from home part-time. Depending on the projects, there may be some travel for onsite audits. You’ll need to be comfortable spending many hours sitting at a desk and working on a computer.

Typical work hours

The typical work hours for an auditor will be from 9 AM to 5 PM, Monday through Friday, in an office setting. However, longer or different hours may 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.

How to become an auditor

In order to become an auditor, you will need a combination of education, training, and experience. In this career guide section, we cover the steps you’ll need to take to achieve your goal:

Step 1: Earn a bachelor’s degree

After high school, earn your bachelor’s degree in accounting, finance, or business. All auditing jobs will require at least a four-year degree, so find an accredited college or university and start working for your degree before starting your job search.

Step 2: Take additional courses specific to auditing

You’ll have access to many courses through your college experience, but great online resources are available if you want to dive deeper into auditing roles before applying for a job. Here are a few courses that we recommend for an auditor position:

• Fundamentals of Audit – A Crash Course from Udemy can provide a strong foundation in all the basics. Work through case studies and learn about the scope of the position. You’ll be able to distinguish the difference between auditing and investigation and learn about the types of auditor positions available. 
• Coursera offers a pair of classes that are beneficial as well. Auditing 1: Conceptual Foundations of Auditing and Auditing 2: The Practice of Auditing are perfectly paired to provide a fantastic overview of auditing. Learn the concepts and applications auditors use to assess, evaluate, and manage audit risks and evidence. 
• Receive one-on-one instruction and learn to become a pro internal auditor with the Lead Auditor Tools for a Professional Internal Audit course from Udemy. Get the tools you’ll need to prepare questions, learn how to document throughout the process, and properly handle the feedback on your reporting. 
• Data is essential to auditors. Take the Introduction to Data Analytics for Accounting Professionals course from Coursera to better understand the foundations of data analytics and how they apply to organizations. Ensure you have a data-driven mindset and the technical knowledge to understand data. 

Step 3: Obtain professional certification

Earning certifications can help you stand apart from other candidates. There a quite a few available, but here are two well-known options:

• Certified Internal Auditor (CIA) – The Certified Internal Auditor certification remains the only globally recognized certification for an internal auditor. As a result, having this certification can be immensely beneficial for an auditor who wants to either work in the internal field or prove their competency in multiple fields.
• Certified Quality Auditor (CQA) – The Certified Quality Auditor certification indicates a professional who understands the basics and advanced aspects of auditing, financial analysis, and other requirements for the auditor position. This certification program is verified and endorsed by the NCCA, which means it is widely recognized and beneficial for auditors. 

Step 4: Consider earning a master’s degree

If you want to move quickly into a higher-level auditor position, consider applying for a master’s program. Some positions require additional education, and you can get a head start or even work on it while gaining experience with entry-level positions. 

Step 5: Seek out job opportunities

Once you are ready to apply for jobs and interview, check the common job listing sites for companies and industries you’re interested in. Put together your resume and include all additional coursework and certifications you have to help yours stand out. 

How much do auditors make?

There are many variables that go into determining how much an auditor makes, from company size to experience to education just to name a few. According to the U.S. Bureau of Labor Statistics, the top-paying places of employment and specific industries for auditors are (shown in annual mean salary):

• Pipeline transportation of crude oil – $123,230
• Computer and peripheral equipment manufacturing – $123,210
• Other information services – $112,900
• Securities and financial investments – $107,610
• Federal executive branch – $107,170

Browse auditor salary data by market

Types of auditors

Internal auditor

Large organizations often have their own internal audit department. This team is responsible for risk management and verifying that the companies’ policies and processes are being followed. The controls and compliance procedures must be evaluated, and internal auditors will handle those evaluations.

External auditor

External auditors are independent of organizations and are hired to come in and evaluate the company with an unbiased and outsider perspective. These auditors will review financial statements and report back to clients.

Information systems auditor

Tax auditor

Career path

The career path for an auditor varies greatly on the industry and size of the organization. Typically, your career begins with an entry-level position with the opportunity to advance to a senior auditor position. After that, you can enter management roles and continue on to director positions. The CFO, chief financial officer, is typically the highest position for this career path.

Top skills for auditors

Aspiring auditors need strong analytical skills and attention to detail to do their job. Reviewing the data, identifying patterns, and looking for issues in processes, statements, and transactions will utilize analytical skills. Critical thinking and problem-solving will assist them in working through the information and watching for problems or questionable information.

Ethics are important for auditors because you must remain objective and unbiased when performing your job. Other important skills include strong communication skills, project and risk management understanding, and proficiency in accounting software.

Similar job titles

• Risk manager
• Night auditor
• Staff accountant
• Financial analyst

Position trends and outlook

Demand for auditors and accountants should increase as the global business grows. Companies will continue to grow and merge, requiring qualified auditors to review increasingly complicated financial records. 

Also, according to Surgent Professional Education, automation and AI are growing in the auditing sector. Rather than this technology replacing humans, AI will excel at performing lower-risk, and lower-skill functions, allowing humans to focus on higher-skill-level areas of the auditing process.

Employment projections for auditors

The job outlook for auditors is expected to increase by 6% over the next decade. This is as fast as average compared to other occupations.

Auditor career tips

Soft skills and traits for auditors

Auditors spend their workday analyzing information and compiling recommendations to improve the system. It’s important to have good analytical skills, and understanding the laws and structures allows you to assess the information properly. Critical thinking and a strong ethical conviction will also be helpful to your role.

Commonly required skills and qualifications

Auditor positions will all have different requirements for education and certifications. Having an understanding of the software programs used for finance is important. Project management experience will help auditors view each assessment as a project, and you can report the information back appropriately to the stakeholders.

Develop a professional network

One of the best ways to grow your career as an auditor is to network with others in your industry. Mentors are helpful to learn from and offer guidance. You can also join organized and established groups to network. Here are a few recommended options:

• Institute of Internal Auditors (IIA)
• American Institute of Certified Public Accountants (AICPA)
• Information Systems Audit and Control Association (ISACA)
• LinkedIn communities and groups
• International Federation of Accountants

FAQs