Auditor Responsibilities

An auditor is a professionally trained individual who is certified to conduct audits. Professional auditor responsibilities include verification and examination of the financial and accounting records of an organization. An auditor may either be internal or external. An internal auditor works for a company within an organization like an employee whereas an external auditor is a person hired from outside and handles multiple clients. Auditor helps an organization to provide a reassurance to the management by performing his core responsibilities of overseeing and monitoring the financial conditions and detecting if there is any fraud.

Key Responsibilities of an Auditor

The auditor holds an important role in analyzing the financial status of the organization by providing reliable, valid financial documentation. It reassures the fact that the organization is free from fraud. Here is a generalized list of key responsibilities that are handled by an auditor:

1. He is responsible for the presentation of the reports which are based on the examination of the financial statements of the organization
2. He examines the financial records and makes sure that it is in compliance with the company's rules and regulations
3. He should keep in touch with the managers and employees to verify that the statements made by them closely or wholly match with the financial records
4. He should ensure that the company's objectives are achieved by checking the unemployment or insurance coverage
5. He will need to answer all the queries related to their findings. He will have to conduct detailed discussions with the interested parties
6. He can recommend guidelines for detecting and preventing the fraud

In addition to these responsibilities he performs other duties which are as under:

• To verify whether accurate accounting procedures were implemented while recording the transactions
• He reviews the computer generated data and ensures that it does not have any discrepancies
• He plans, directs and delegates the work according to the requirements
• He makes sure that all the queries are resolved at the earliest to ensure smooth flow of work

Essential Skills of an Auditor

To be a successful auditor you need to have the following skills:

1. He should be good at mathematics. He should be able to do all sorts of calculations; addition, subtraction, ratio, percentage and should be able to present the data in the form of graphs and charts
2. He should be able to read, analyze and interpret the financial data
3. He should keep himself abreast with the latest developments in the audit field
4. He should be good at managing business correspondence and should be able to generate reports
5. He should have excellent time management and organizational skills and have an ability to prioritize work
6. He should be confident and speak effectively while addressing the questions raised during the meetings

Besides these skills he should be detail oriented and should be able to figure out the discrepancies. He should be able to point out if there is any mismanagement or fraud. He should be proficient in handling computers and generating various reports and graphs.

Educational Qualifications for an Auditor

Though a bachelor's degree from an accredited university is required, a master's degree in accounting or business administration is definitely preferred. An additional certification is surely a bonus. Experience will help you to get the job more easily.

Work Hours of an Auditor

An auditor is required to work in a normal office environment with work hours not extending forty to forty five hours per week. However, they may need to extend their work as per the requirements. Sometimes, they may be required to travel.

Career Advancement for an Auditor

Sufficient work experience will help an auditor to advance into the management level. The job prospects are really bright especially if you have additional certification.

The auditor responsibilities need to be carried out effectively as it is filled with many important duties and tasks in financial capacity. Thus the importance of an auditor cannot be denied especially in today's economic conditions.