An auditor has to look after the account records, examine the balance sheet and verify that the profit and loss statements provided by an organization is accurate and devoid of any malpractice.
Job Description: The main functions of an auditor is to examine the financial transactions and practices of an organization, to gather necessary information from reliable sources about the financial operations and see that it is carried out in accordance to the laws and conventions, analyze and examine the information and data gathered to create detailed reports based on the findings, to check on the accounts of tax payers, analyze and prepare annual reports in coherence with the accepted statistical methods, to talk with the workers and check bookkeeping to see that transactions have been done in an honest procedure.
Other activities include checking and verifying ledger entries, auditing the payroll of the employees to ascertain the worker’s compensation and liabilities, examine data regarding income and expenditure, surplus and material assets.
Finally an auditor is required to prepare a report and present it before the management of the concerned organization to make sure that there is no dishonesty and corruption in the financial records of the company and also give suggestions to implement new policies and changes based on the report.
Required Skills: An auditor should have excellent knowledge in economics, accounting, mathematics and computers and should know about the latest happening in the financial markets.
A critical and analytical thinking is must to solve many complex problems and ability to convey the findings clearly in written words with effective solutions.
Educational Requirements: A Bachelor’s or Masters Degree in Accounting is required. However individuals having a Master’s Degree in business administration can also become an auditor if the degree has a focus on accounting.
Job Opportunities: An auditor can get a job as an internal auditor by working for a particular organization and audit its financial reports, as well as an external auditor who is free to audit for any self employed person or any public organization such as the various governmental agencies.