The Definitive Guide: How To Become An Auditor
What is a Auditor?
Auditors used to have a dreary reputation – companies would dread the day the auditor knocked on the door. But this is no longer the case - auditors are seen as smart and sophisticated – with knowledge that management envy. You will need to have great people skills so that you can communicate well with clients. After all, nobody likes a bleak auditor with a know-it-all attitude
So, what exactly is an Auditor?
An auditor is responsible for providing examinations of a company’s financial statements. An audit is an official inspection of an organisation’s accounts, to uncover problems, ensure efficiency and make sure that businesses are prepared to face challenges if any should arise.
When conducting an audit, you will be making sure that a true and fair view of a company’s financial performance is being presented. There are two different types of audits: internal and external. Internal auditing involves examining policies and procedures and advising improvements. External auditing involves examining company accounts to check that they are accurate.
Hours of Work
You can expect to work 35-40 hours per week, Monday to Friday (with irregular overtime when faced with deadlines). You won’t be required to work weekends or public holidays, which is always a bonus!
So, what will your main responsibilities be as an Auditor?
Duties typically include:
- Collecting figures
- Assessing financial systems
- Finding problems and risks to the business
- Making recommendations
- Creating and maintaining relationships with clients
- Planning and performing audits
- Travelling to clients
- Obtaining documents and information
- Preparing reports which emphasise issues and problems
- Ensuring companies are complying to rules and regulations
Key Auditor qualifications
Do you have the qualifications to get the job?
Auditors can come from a range of backgrounds. There are many routes you could take. You must be a qualified accountant before becoming an auditor - some organisations you could do courses with to become an accountant first are:
You could either study these independently or be trained within a company, but you will need A Levels in order to get on to the accountancy courses – some relevant subjects could include Maths, Business studies and Economics.
Other qualifications that could be desirable (but not essential) are a degree in Maths, Business or Finance. Don’t panic though if you haven’t gone down the university route, as this is not a requirement!
Vital Auditor skills
Want to know if you’ve got what it takes? These are the skills you’ll need for the role
- Attention to detail
- Problem solving skills
- Financial planning
- Communication skills
- Time management
- Organisational skills
- Ability to understand business needs
- Ability to work to deadlines
What is an Auditor’s salary?
Now we’re getting down to the nitty gritty…
You can start out in this career earning a decent £25,000. Once you have gained some more experience your pay can go up to £34,000. Those at a senior level can earn up to £50,000 and above! If that isn’t motivation to work hard and succeed as an auditor, then I don’t know what is.
How to become an Auditor
Now that you know what an Auditor does, how do you become one?
One way to get into this career is by starting out as a trainee auditor. Whilst being trained by the company, you could take your accountancy exams, which will allow you to become an auditor. You will need A Levels first to enable you to take the required training.
If you have a degree, you could do a graduate scheme. The national audit office offers a three year training scheme for graduates in any subject.
If you already have experience in finance, banking or HR, this can be helpful in getting yourself a job.
How to develop your Auditor career
What’s next in your career?
From here, you could progress to finance manager within the company. It is possible to work your way up and be promoted – it is the ultimate reward for all of your hard work and dedication.
Or, if you want a bit more freedom in your job, you could consider setting up your very own auditing or accountancy practice. It is very rewarding becoming your own boss. You will have to take on more responsibilities though, such as admin and marketing.
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