What Does An Auditor Do?
An auditors main function is to comb over a companys financial records and monitor them for accuracy, efficiency, and to monitor any other problems that might come up.
There are two types of auditing jobs:
- internal
- external
Internal auditors are primarily concerned with their own companies bookkeeping and do not require an accounting degree.
External auditors work on other businesss finances and require certification.
An average day as an auditor will be spent looking at finances and making sure no problems exist. Auditors will also have to collect the data they plan to analyze which often requires a detailed analysis of the companys financial systems. Auditors will need to carefully look over years-old records to provide an accurate analysis of a companies finances.
The majority of companies are required by law to release their finances as a matter of public record. This means that the demand is always high for external auditors. Auditors must be thorough, accurate, and dedicated to making sure accurate to provide accurate representations of their clients.
What Qualifications Are Required to Become an Auditor?
External auditors must be certified as accountants. In the UK, professional auditors must be certified with one of the following bodies:
- Association of Chartered Certified Accountants (ACCA)
- Association of International Accountants (AIA)
- The Institute of Chartered Accountants in England and Wales (ICAEW)
- The Institute of Chartered Accountants in Scotland (ICAS)
- The Institute of Chartered Accountants in Ireland (ICAI)
These organizations generally require at least three GCSEs (A-C) and/or two A levels or work experience.
Before anyone can become an external auditor, they must have two years experience as an accountant. The individual accounting associations can provide training and further certification in the practice of auditing.
For internal auditors, the requirements are less stringent. Individual businesses will have their own standards for their own internal auditors. These companies may well require accounting certification but it is not required. Many employers simply require previous financial experience for those looking to qualify for the position.
There are always job opportunities available for auditors. Whether they choose to work for a private firm or in the public sector, auditors are always essential employees.
Another way to start your career in finance is to work as a accounts clerk where you can also join a proffesional accounting association and study towords becoming qualified.