Career summary

Details for Auditors


Description

Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.

Tasks

  • Prepare detailed reports on audit findings.
  • Report to management about asset utilization and audit results, and recommend changes in operations and financial activities.
  • Collect and analyze data to detect deficient controls, duplicated effort, extravagance, fraud, or non-compliance with laws, regulations, and management policies.
  • Supervise auditing of establishments, and determine scope of investigation required.
  • Inspect account books and accounting systems for efficiency, effectiveness, and use of accepted accounting procedures to record transactions.
  • Prepare, analyze, and verify annual reports, financial statements, and other records, using accepted accounting and statistical procedures to assess financial condition and facilitate financial planning.
  • Review data about material assets, net worth, liabilities, capital stock, surplus, income, and expenditures.
  • Examine and evaluate financial and information systems, recommending controls to ensure system reliability and data integrity.
  • Confer with company officials about financial and regulatory matters.
  • Inspect cash on hand, notes receivable and payable, negotiable securities, and canceled checks to confirm records are accurate.
  • Examine records and interview workers to ensure recording of transactions and compliance with laws and regulations.
  • Examine inventory to verify journal and ledger entries.
  • Evaluate taxpayer finances to determine tax liability, using knowledge of interest and discount rates, annuities, valuation of stocks and bonds, and amortization valuation of depletable assets.
  • Examine whether the organization's objectives are reflected in its management activities, and whether employees understand the objectives.
  • Audit payroll and personnel records to determine unemployment insurance premiums, workers' compensation coverage, liabilities, and compliance with tax laws.
  • Review taxpayer accounts, and conduct audits on-site, by correspondence, or by summoning taxpayer to office.
  • Examine records, tax returns, and related documents pertaining to settlement of decedent's estate.
  • Produce up-to-the-minute information, using internal computer systems, to allow management to base decisions on actual, not historical, data.
  • Direct activities of personnel engaged in filing, recording, compiling, and transmitting financial records.
  • Conduct pre-implementation audits to determine if systems and programs under development will work as planned.

Interests

  • Investigative - Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.
  • Enterprising - Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
  • Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.

Education, training, experience

  • Education - Most of these occupations require a four-year bachelor's degree, but some do not.
  • Training - Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
  • Experience - A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.

Knowledge

  • Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
  • Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
  • Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
  • Personnel and Human Resources - Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
  • Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
  • Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.

Skills

  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.
  • Speaking - Talking to others to convey information effectively.
  • Mathematics - Using mathematics to solve problems.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.
  • Monitoring - Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
  • Persuasion - Persuading others to change their minds or behavior.
  • Instructing - Teaching others how to do something.
  • Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Systems Analysis - Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
  • Systems Evaluation - Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.
  • Time Management - Managing one's own time and the time of others.
  • Management of Personnel Resources - Motivating, developing, and directing people as they work, identifying the best people for the job.

Related careers

  • Accountants
  • Budget Analysts
  • Economists
  • Financial Analysts
  • Financial Managers, Branch or Department
  • Personal Financial Advisors
  • Purchasing Managers
  • Treasurers and Controllers