Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

What Do Auditors Do?

Job Descriptions September 24, 2013

Auditors perform many of the same functions that bookkeepers and CPAs perform, but they do it in an advisory capacity. The auditor is the one who evaluates the financial statements in order to form an opinion on whether or not the case is error-free. However, you will most likely be working within a company’s ranks, or several companies if you so choose.

What Do Auditors Work On?

One thing will stay the same. The general practice of the audit is to evaluate a company’s financial statements and determine whether the person involved is competent and if the records are sufficient. You are looking to establish evidence of relevance and reliability.

Relevance refers to the evidence of set facts you are verifying. Reliability is when you depend on the evidence to find the answer. GAAP refers to generally accepted accounting principles, and you must determine when GAAP standards are not being followed and inform the client of such.

Auditors will also work with occurrence, which are transactions that took place, completeness, an event recorded wholly, classification, information delivered to the proper account, cutoff, the correct period of the transaction, and rights and obligations, which is the issue or what rights and liabilities exist. Auditors are in charge of reconciling accounts, adjusting entries and preparing financial statements.

Where Do They Work?

Auditors have knowledge beyond bookkeepers, which is sometimes all a company can afford. Therefore, auditors are called upon to carry out more complex assignments for smaller companies, and in the end, this saves on cost and promotes efficiency.

You might even want to get comfortable with your independence, since more emphasis has been put on auditors to be objective, coming from the American Institute of CPAs and other government organizations. New regulations actually restrict non-attest services that are often bundled up with auditing, such as tax services.

Most of your time will be reviewing financial statements and ensuring all items are in accordance with laws and standard financial reporting framework. You must gather evidence and compare this information so that you can be reasonably sure that all statements are free of duplicity, misstatement and error. You are not only investigating cases of fraud, but sometimes simple human error which cannot be classified in the same way as intentional fraud.

Auditors may also be hired, by management, to gain an understanding of how a company is operating. While it’s not always common, auditors can sometimes offer advice on how to improve financial reporting and even how to maximize a company’s performance and efficiency.

Beyond the Job Description

Auditors are not responsible for any company’s financial work, only what they audit. The responsibility is to the company, which has no influence over the auditor. These professionals are not management, and thus cannot perform any transactions, make changes to source documents, assume custody over accounts, or monitor ongoing activities for a client.

Neither can an auditor approach someone outside of proper jurisdiction, such as the board of directors. The auditor is also not going to be reconciling any checking accounts or finding invoices. This is beyond the job description.

This is a lucrative career that will still allow you your independence. Why not start looking into higher educational opportunities in accounting?

Searching Searching ...

Matching School Ads
5 Program(s) Found
  • There's still time to apply to Grand Canyon University and pursue your education. Learn more today!
  • Study on your schedule - GCU offers many programs 100% online to fit your busy lifestyle.
  • GCU offers a variety of opportunities to reduce the cost of furthering your education. Campus students may qualify for scholarships, while online students can take part in limited special offers.
  • A regionally accredited university, GCU also holds specialized accreditations and approvals for some of our core program offerings.
  • Degrees in business, education, nursing, humanities and social sciences, theology and more. Find the degree that fits you.
  • Talk to us today to learn more about financial aid and start dates!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
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
  • We're now Non-Profit.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
  • Education Connection is a 100% Free College Matching Service used by 50,000 People Daily.
  • Get Matched to the Right Business Administration and Management, Accounting, Healthcare Administration, Marketing and Entrepreneurship Degree Program for YOU.
  • Affordable and Flexible Business Degree Programs from Top Colleges Across the Nation. Both Online And Campus!
  • Just Fill Out a Few Questions and You Can Find Your Perfect Business Degree Program Within Minutes.
  • Start Using our Fast, Free, and Easy Matching Service Right HERE and Right NOW!
  • Online Courses
  • 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

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
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
  • We're now Non-Profit.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
  • Are You a Natural Leader or Good with Numbers? Get Educated in the Business Field.
  • Build the Capabilities and Connections to Power Your Future.
  • Business Administration & Management, Accounting, Marketing Degree Programs and More From Top Colleges that Fit Your Needs.
  • Find Schools Online or Near You & Get Info for FREE Today!
  • Online Courses
  • 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!