what is it like to work as an auditor?
The auditor is authorized to examine, evaluate, and ensure the accuracy of a company's financial records. To facilitate smooth operations, they also ensure compliance with tax regulations and approve the company's business activities.
In a consulting role, the auditor assists the employer in identifying cost-saving measures and risk mitigation procedures that enhance business success. As a financial expert, the auditor evaluates the company's financial health and provides recommendations to increase revenue and reduce expenses.
what does an auditor do?
Every company needs an internal or external auditor to ensure their financial statements are accurate and to maintain compliance with industry regulations. Auditors also work with governments and public institutions to ensure proper management of financial resources or to detect embezzlement and misappropriation.
In the private sector, the auditor functions as a consultant, ensuring that the financial statements accurately reflect the organization's true condition. They also provide objective assessments and recommend solutions to improve the company's current practices and processes.
In general, an auditor's goal is to assist companies in improving their performance, reducing risks, and ensuring compliance with laws and regulations. As a member of a company's accounting department, you can work not only in the banking and financial sectors but also in industries such as manufacturing and service centers.
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the average salary of an auditor.
Our salary calculator allows you to explore pay ranges and see how much a beginner or experienced auditor earns.
In addition to their base salary, auditors receive various benefits, such as transportation allowances, housing support, and health benefits.
other factors affecting the auditor's income.
The earning potential is influenced by both the geographic region and the industry in which the auditor works. For example, an auditor working in the public sector or a government agency typically earns less than one working in the private sector.
Multinational companies often require more experience and sometimes specialized qualifications, which are reflected in their benefits packages. Auditing is a sought-after and respected profession, and this is also evident in the compensation levels.
Would you like to know how much an accountant earns? check out our salary calculator!
salary calculatortypes of auditor positions.
During your career as an auditor, you can specialize in various areas. The following job roles are the most common:
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internal auditors
The internal auditor's areas of responsibility are designated by the employer. Their task is to examine employee performance and ensure that financial records comply with the company's standards and accounting system. They must also conduct risk assessments and assist management in making well-informed business decisions.
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external auditors (certified public accountants)
The role of an external auditor is to perform mandatory legal or financial reviews to verify the accuracy of records. It is their responsibility to ensure that the financial records provide an accurate picture of the company's financial position. An external auditor's report serves as objective evidence of the company's integrity in the eyes of clients.
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forensic auditors
The role of a forensic auditor is to investigate illegal activities and fraud within a company. They can also assist organizations in implementing measures to prevent embezzlement and fraud.
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tax auditors
The role of a tax auditor is to examine the company's tax compliance. They determine whether the company has accurately assessed its tax liabilities.
working as an auditor.
Being an auditor is an exciting career with a variety of responsibilities and work environments.
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job description of the auditor
Daily tasks and responsibilities vary depending on the company and department. Here are some common duties of an auditor:
- Analysis of accounting data: the auditor's primary responsibility is to examine and review the accounting records, ensure their accuracy, and assess the company's financial position.
- Preparing reports: after reviewing the accounting, a detailed report must be created outlining the findings of the review and the recommendations made. The report should cover asset depreciation, as well as the assessment of revenue and potential improvements.
- Detecting fraud and illegal activities: in addition to monitoring the organization's financial stability, it is essential to investigate fraud and misappropriation. We can also assist companies with legal compliance and adherence to business policies.
- Risk monitoring: it is the auditor's responsibility to identify the financial risks within the company and to provide recommendations for improving the financial situation. They may also examine processes that consume significant resources but do not generate revenue.
- Conducting legality review: as an external auditor, part of the job is to carry out impartial assessments in compliance with legal requirements.
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work environment
An auditor works in an office environment both in the public sector and the private sector. If they are employed by a consulting firm, they may also need to work at the client's site.
Work can be done at a desk, but sometimes travel is necessary to meet with clients and executives in person. Most auditors work individually, but at larger companies, they often work in teams to meet deadlines.
For those who prefer a hybrid work environment, more and more companies are offering the option to work from home or remotely.
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working hours schedule
The auditor typically works full-time, 40 hours a week. Some companies also advertise part-time positions.
Sometimes, it's necessary to work overtime in the evenings or on weekends during busy periods. During tax season and at the end of the fiscal year, auditors tend to be busier and often have to work longer shifts to ensure reports are completed on time.
As an auditor, sometimes you need to travel to meet with clients and visit subsidiaries. If you enjoy meeting new people or working in different environments, an auditing career offers those opportunities.
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development opportunities
Auditing is a forward-looking career opportunity driven by business growth and the evolving tax and regulatory landscape.
If we want to succeed in the auditing profession, it's important to adapt to technological advancements that enable us to take on more complex tasks. You can also specialize in one of the areas mentioned earlier, and by deepening your expertise in that field, you can expand your career opportunities.
The audit profession is a rewarding career path with clear opportunities for professional growth, from entry-level positions to leadership roles. As experienced auditors, we can advance to director or consultancy roles through our qualifications.
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why it's worth applying for an auditor position through randstad
There are several advantages to seeking an auditor position with the assistance of a Randstad consultant.
- an advisor well-versed in the financial sector of the labor market supports the selection process
- you can find a wide range of job opportunities on our website
- whether you're looking for a fixed-term or indefinite position, we help you find the job that best fits you
required studies and skills.
Any of the following qualifications can serve as entry points for the auditor certification:
- Basic diploma (BA): many professional auditors start their careers with a bachelor's degree in finance, economics, business, or accounting. After completing university, additional training is required to obtain the auditor certification.
- An advantage if an auditor holds a certified accountant qualification and an ACCA certification.
- Internship: by gaining practical experience at an accounting firm, we can start an auditing career, allowing us to acquire professional experience and relevant expertise even during our studies.
skills.
Some of the most important skills an auditor should have:
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analytical skills
The task involves identifying issues within documents and offering effective solutions. Exceptional analytical abilities are required to review financial statements, analyze corporate processes, examine available information, and interpret data.
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organizational skills
As auditors, we work with a variety of financial statements, and sometimes we need to obtain these documents from many clients. Good organizational skills help in arranging the documents and keeping the paperwork in order, ensuring accurate audit results.
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communication skills
The auditor maintains close contact with clients and senior management. Therefore, strong communication skills are essential. It's important to understand the client's needs in order to find appropriate solutions. Sometimes, you need to present audit findings or write reports, which also require effective communication abilities.
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mathematical skills
Most of the day is spent reviewing numbers, analyzing reports, and interpreting data. Those who can combine their mathematical abilities with experience in data analysis and accounting are poised for success in the auditing profession.
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accuracy
Errors in audits can have serious consequences, including fines and legal actions. It's crucial to pay close attention to details when reviewing financial statements to help our client avoid potential penalties and liabilities.
frequently asked questions.
We have compiled the most frequently asked questions regarding the auditor position:
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what does an auditor do?
An auditor examines financial statements to ensure their accuracy and compliance with regulations. They are financial professionals who assess processes to help the company operate efficiently. They can also recommend solutions to financial issues, such as reducing expenses or increasing revenue. Some auditors also perform tax reviews for their clients.
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what is an auditor's salary like?
The auditors' salaries are determined based on their experience and qualifications. Some private companies offer higher pay and additional benefits, such as bonuses and discounts. Check out our salary calculator to see the current pay ranges.
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what are the different areas within the auditing profession?
There are internal, external, and forensic auditors. Internal auditors review financial statements and operations, recommending measures to improve processes and ensure financial stability. External auditors conduct mandatory legal audits to verify the company's integrity. Forensic auditors investigate fraud and misappropriation across various organizations.
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what are the expectations for an auditor?
The auditor must be impartial and provide an accurate picture of the company's current situation. Additionally, they need to be thorough in detecting any misuse of funds and identifying compliance issues.
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is being an auditor a good job?
Being an auditor is a profitable and sustainable career, with an attractive compensation package and promising prospects. It can even lead us to executive positions.
Applying for an auditor position is easy: create your profile on Randstad, and browse our job offers near you. Once you're logged in, you can apply with just one click for the opportunity that interests you on our website!