Whether you work for a small accounting company or one of the Big Four firms, auditing is a rewarding profession. From ensuring compliance with financial regulations to spotting fraud and other irregularities, the auditor job description includes accounting, financial reporting, and investigative responsibilities. Learn more about the day-to-day responsibilities of this profession before learning about how to become an auditor.
The major job duties in the auditor job description include examining records and reports, reviewing financial practices, completing auditing questionnaires, preparing audit reports, discussing the results of audits with executives, and assessing the effectiveness of financial control systems. Auditors also help their employers comply with securities regulations, improve fraud identification processes, and eliminate waste. The duties listed in an auditor job description vary by employer and industry, so additional tasks may be required.
Auditors do not always work for accounting firms, as their skills are useful in several industries. Government agencies employ auditors to make sure the right people are getting paid for their services. Government auditors ensure that the recipients of federal funds comply with funding regulations. Auditors are also employed by manufacturing companies, insurance firms, bookkeeping and payroll services, and tax preparation services. The auditor job description for someone working at a tax preparation firm is likely to differ from that of an auditor job description for a government agency or insurance firm, so be sure to check with local employers to find out what is required.
Although working as an auditor has many benefits, some drawbacks exist as well. Auditors who work for tax preparation firms typically have heavy workloads during the busy tax season. Evening and weekend hours may be required to handle the extra work. The end of the fiscal year is also a busy time for auditors, as they play an important role in preparing and reviewing financial reports that must be submitted by specific deadlines. The Bureau of Labor Statistics reports that approximately 20 percent of accountants and auditors worked more than forty hours per week in 2010, so you might have to work longer hours than expected in certain industries. If your auditor job description identifies you as an exempt employee under the Fair Labor Standards Act, you may have to work these extra hours without receiving overtime pay for them.
Another disadvantage of being an auditor is that financial rules and security regulations change frequently. Auditors have to stay up to date with these changes by participating in continuing education events and courses. Julie Shenkman says that auditor independence is also a significant issue. Your independence is affected by the recommendations of the Securities and Exchange Commission and other regulatory agencies, so you must be able to find a balance between complying with federal regulations and maintaining your independence when performing the duties listed in your auditor job description.
If you enjoy working with numbers and have an aptitude for reviewing detailed reports, then a career in auditing might be right for you. Before enrolling in a degree or certificate program, think about whether you are able to handle the long working hours required by some companies and the constantly changing financial regulations. If you think you can manage these disadvantages of an auditing career, review a detailed auditor job description and learn more about how to become an auditor.
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