Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

Salary Information for Auditors

Career News November 13, 2013

Auditors are a valuable asset to any organization, as the accuracy of their work in preparing financial records and ensuring taxes are paid on time, keeping the company operating efficiently. The earnings for auditors vary greatly, with a low end of $40,000 a year and the top ten percent earning a yearly minimum of $110,000. The average salary for auditors is $62,850.

Auditors of Multiple Industries

Auditors are found in every type of industry. Many begin their careers as forensic or corporate accountants, then open their own offices to serve the public once they have become Certified Public Accountants. While their job descriptions may vary, such as an internal auditor, retail loss prevention, information technology or field auditor, their basic functions are the same.

The role of the auditor is to organize and maintain all the company’s financial records. They examine their clients’ financial statements for accuracy and compliance with all federal tax laws and regulations. They compute the taxes owed and prepare the filing of related paperwork. They inspect the accounting books for efficient business practices. They suggest ways to decrease the costs of the business and for maximizing profits.

The industries that pay the highest mean income salaries to auditors and accountants are a little surprising. Dry cleaning and laundry services are at the top of the list, with a mean average of $91,260 a year. The federal executive branch of the U.S. Government comes in second place, with an average just under $90,000 a year. Independent artists, writers, and performers also hire auditors to do their paperwork, paying an average of $82,290 a year.

Regional Differences in Salary

How well an auditor is paid can also be influenced regionally. The District of Colombia pays the highest average for auditors at $86,000 a year, with New York coming into second place with an $85,000 a year average and New Jersey in third, with an average of $81,250.

Auditing is a full time employment, with approximately one fifth of all auditors averaging more than forty hours a week. Overtime work is usually seasonal, with the longest number of hours employed at the end of the budget year or during tax season.

Most employers prefer to hire an auditor with several years of experience in accounting or a related field, as well as a Bachelor’s degree. An auditor should be familiar with a variety of the field’s concepts, practices and procedures. Auditors are relied upon for good judgment in planning and accomplishing the organization’s goals. Most auditors work under general supervision and report to a supervisor or manager.

Auditors serve an important function if government organizations, in businesses and private practices. As crucial members of the financial world, their services are expected to grown by sixteen percent within the next ten years. As many companies branch out into overseas practices, they are also met by the development of stricter laws requiring the necessity of hiring an auditor to keep their business practices in compliance with federal law. Tighter lending standards are also expected to spur growth in the fields of accounting and auditing, especially in the area of trade.

A number of states are expected to increase the demand for auditors faster than the sixteen percent average as these states develop their business potential. Utah’s employment rate for auditors is projected to grow by 35% within the next few years. Other areas expected to see a higher increase of 25 – 26 percent are Maryland, Texas, Virginia and Idaho. Although the employment rate is increasing rapidly, accounting and auditing is a highly competitive field. The best chance of landing a solid auditing job is to obtain a master’s degree.

Searching Searching ...

Matching School Ads
5 Program(s) Found
  • Ready to earn your business degree? If you identify with at least one of the statements below, GCU could be a good fit for you!
  • I have worked in the business field for a number of years and want to further my education in order to qualify for promotions, leadership positions, and salary increases.
  • I am graduating from high school and am interested in pursuing a career in a business field, but I first need the skills experience.
  • I am interested in a Bachelor's, Master's or Doctoral degree in my specialized business area of focus.
  • I want flexible course offerings, such as the option of 100% online, evening or campus classes.
  • I need a university that provides quality educational offerings through academic excellence and real-world relevance. Does this sound like you? Apply today!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
4 Program(s) Found
  • Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses
2 Program(s) Found
  • Earn your Bachelor of Business Administration (BBA) 100% online
  • Learn business and leadership skills through case studies and intensive projects, culminating in a capstone course
  • Program designed to teach students key concepts in accounting, financial services, and marketing
  • South University brings over 115 years of achievement and tradition to a supportive, online classroom
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
2 Program(s) Found
  • Designated as a 2015 Military Friendly® School by Victory Media, publishers of G.I. Jobs®.
  • Each program is designed to instill the knowledge, ethical values, and interpersonal skills of professional practice and to foster values of social responsibility.
  • Offers several flexible learning options, including a blended format that combines campus and online learning.
  • Several scholarship opportunities are available for students who qualify.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
2 Program(s) Found
  • Online and ground-based program areas include Fashion Marketing and Management and more.
  • Students can study branding, event management, and public relations to help them prepare for a marketing career
  • Course topics include Fundamentals of Business, Brand Strategy, Project Management, and Principles of Market Research
  • Over 50 locations nationwide, with a student support team dedicated to helping students grow
  • Join our next Open House on 10/21 (10/28 @ select locations)!
Good for Working Adults
  • Flexible Scheduling
  • Financial Aid
1 Program(s) Found
  • Full Sail’s curriculum combines elements of creativity, art, business and life skills, technical prowess, and academic achievement.
  • Full Sail offers accelerated programs, so a degree that would normally take four years takes 24 months on average.
  • Students work with industry-standard tools and technologies, allowing them to gain practical knowledge and real-world experience.
  • Join us on Facebook, Twitter, YouTube and Instagram to interact with our community, read about grad success, and see campus images.
  • Online Courses
1 Program(s) Found
  • Ranked among the top 20 Regional Universities in the West in 2015 by U.S. News & World Report.
  • Listed as one of America’s Best Colleges by Forbes Magazine in 2014.
  • More than 97% of tenure-track faculty holds a terminal degree in their field.
  • Student to faculty ratio of 15:1, and 47.5% of classes have fewer than 20 students.
  • Accredited by The Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses
  • Education Connection is a 100% Free College Matching Service used by 50,000 People Daily.
  • Get Matched to the Right Early Childhood Education, ESL/TESOL, Special Education, Education Leadership and Administration, and Curriculum and Instruction Degree Program for YOU.
  • Affordable and Flexible Education and Teaching Degree Programs from Top Colleges Across the Nation. Both Online And Campus!
  • Just Fill Out a Few Questions and You Can Find Your Perfect Education and Teaching Degree Program Within Minutes.
  • Start Using our Fast, Free, and Easy Matching Service Right HERE and Right NOW!
  • Online Courses

Searching Searching ...

Matching School Ads
5 Program(s) Found
  • Ready to earn your business degree? If you identify with at least one of the statements below, GCU could be a good fit for you!
  • I have worked in the business field for a number of years and want to further my education in order to qualify for promotions, leadership positions, and salary increases.
  • I am graduating from high school and am interested in pursuing a career in a business field, but I first need the skills experience.
  • I am interested in a Bachelor's, Master's or Doctoral degree in my specialized business area of focus.
  • I want flexible course offerings, such as the option of 100% online, evening or campus classes.
  • I need a university that provides quality educational offerings through academic excellence and real-world relevance. Does this sound like you? Apply today!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
4 Program(s) Found
  • Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses
2 Program(s) Found
  • Online bachelor's programs include BBA, Criminal Justice, IT, Healthcare Management, Pscyhology & Public Health
  • Over 115 years of delivering quality education and personalized attention to students
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
2 Program(s) Found
  • Designated as a 2015 Military Friendly® School by Victory Media, publishers of G.I. Jobs®.
  • Each program is designed to instill the knowledge, ethical values, and interpersonal skills of professional practice and to foster values of social responsibility.
  • Offers several flexible learning options, including a blended format that combines campus and online learning.
  • Several scholarship opportunities are available for students who qualify.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Full Sail’s curriculum combines elements of creativity, art, business and life skills, technical prowess, and academic achievement.
  • Full Sail offers accelerated programs, so a degree that would normally take four years takes 24 months on average.
  • Students work with industry-standard tools and technologies, allowing them to gain practical knowledge and real-world experience.
  • Join us on Facebook, Twitter, YouTube and Instagram to interact with our community, read about grad success, and see campus images.
  • Online Courses

Login to your account

Can't remember your Password ?

Register for this site!