Finances require order and control, and someone needs to ensure that. A professional auditor is simply indispensable, especially for a company or a firm dealing with significant income and expenses.
After all, who better than this specialist can help bring order to financial and accounting statements, correct errors, and ensure compliance with the law? But that’s not all they do. In fact, what does an auditor do and the demands of this profession are precisely what we’ll explore in our article.
In short, an auditor is a specialist who engages in auditing activities, which involve checking and assessing financial reporting, business processes, and management systems of companies and organizations.
The work of an auditor is crucial for ensuring the reliability and integrity of financial statements and for identifying errors and discrepancies in the operations of companies and organizations.
Interestingly, in Latin, “auditor” translates to “the one who listens.”
This specialist has many functions:
That’s not all of what the auditor does. It’s quite interesting and, at the same time, a complex profession that can also be divided into different categories.
It’s a profession for individuals who possess critical thinking skills, have an affinity for order, and constantly strive for it. And, of course, it’s a profession for people not afraid to work with finances. However, to properly fulfill what an IT auditor does, certain skills and qualities are required:
Additionally, there should be an ability to grasp the company’s production process being audited quickly.
There are several different directions of auditing. Consequently, such a specialist should perform various functions depending on the direction of their profession.
It’s a specialist who checks financial statements and evaluates the accuracy, effectiveness, and risks for the company.
What does an external auditor do: this specialist performs different tasks, such as:
They develop an audit plan and prepare an audit report, adhering to ethical standards and principles.
Unlike external auditors, this specialist has other functions directed at internal processes and conditions in the company. For instance, what does an internal auditor do:
And also it includes the reviewing and analyzing of financial reports and statements.
Auditors can be responsible not only for financial systems but also for IT systems, controlling data integrity. What does an IT auditor do, in essence:
This job can remind the system administrator’s function somewhat but focus on evaluating effectiveness and risks for IT controls.
What does an energy auditor do? They specialize in examining and examining the patterns of energy usage in structures, industrial facilities, or organizations. They identify energy-saving opportunities, recommend energy-efficient measures, and evaluate the effectiveness of energy management systems.
These are just a few examples of the types of auditors that exist. It’s worth noting that some auditors may specialize in multiple areas or focus on specific industries, such as healthcare, finance, or environmental auditing, as well as what an auditor does in a school, bank, or IT company.
This responsible and complicated profession requires laborious preparation.
The first step is obtaining corresponding knowledge, skills, and… certificates. A bachelor’s diploma in accounting and finance can open doors to this profession.
Sometimes companies require auditors with master’s diplomas in accounting, but it isn’t a rule. To become a competent auditor, choose a school with a strong basis and proven and quoted diplomas.
It’s not enough to finish the study; you must also approve your qualification and maintain your competency. The most recognized documents that can enhance your credentials are such certificates as:
Various business schools can also improve your qualifications and add some weight to your diploma.
As anywhere, work experience always matters. But even if you’re a newly minted auditor, you can always find an entry-level job or one internship where you can practice auditing tasks and responsibilities. This is a good start to develop professional skills and practice.
And, of course, keep going with your professional development and studying. Attend training programs, seek employment opportunities, and network with new professionals.
