Should I be an auditor?

What do you get when you mix an accountant with a detective?

You guessed it...

An auditor!

Think of auditing as accounting work mixed with a bit of investigative work. Auditors help organizations to ensure their financial processes follow accounting standards, laws, and procedures.

Auditors are responsible for:

• Identifying potential issues and areas of risk, such as fraud and financial risks

• Examining processes, documents, and financial statements for compliance with laws and regulations

• Explaining audit findings and making recommendations for audit solutions

• Consulting with organizations to improve processes and efficiency, and decrease costs

• Preparing detailed reports such as audit reports and recommendations

• Ensuring taxes are filed and paid properly

There are many diverse opportunities. Auditors can work in a variety of areas, from small businesses to large-scale international companies.

Auditors can work in...

• Corporate/Public Firms

• Government Organizations

• Non-profit Organizations

• Academia/Educational Institutions

Depending on your area of interest, you can earn professional designations such as: Chartered Professional Accountant (CPA), Certified Information System Auditor (CISA), Certified Fraud Examiner (CFE), or Certified Internal Auditor (CIA).

Auditors can specialize in:

Photo by Markus Winkler on Unsplash

• Financial Forensics:

  Mixing criminal investigation skills with financial auditing skills to look for fraud, money-laundering, insider trading, scams, and other financial crimes

• IT Audit:

  Reviewing an organization's IT systems for compliance and security

• Tax Audit:

  Ensuring taxes are filed and paid properly

Photo by Scott Graham on Unsplash

• External Audit:

  Employed by outside organizations to check for proper management of funds, revenue, and internal controls

• Internal Audit:

  Similar to External Audit, but employed by the organization they are auditing to help improve internal processes

In the US the national average salary for an auditor is:

$57,615/year (USD)

In Canada the national average salary for an auditor is:

$55,921/year (CAD)

You'll Love It If...

• You're curious and analytical and enjoy putting together complex data

• You enjoy working with various technology and software

• You have an interest in accounting, math, law and government

• You're a critical thinker and enjoy solving problems

• You don't like sitting at a desk all day: Auditing is a 9-5 office job!

• You're not a "people person": Auditors often interact with new people during each audit. They provide consultation services, and collaborate with team members on audit projects.

• Numbers aren't your friend: Auditors spend a lot of time analyzing complex data and calculating financials.

• You prefer routine tasks: Every day is different - auditors spend a lot of time learning about new organizations and their processes, and have multiple audit peojects on the go at once.

Jamie

• Detail oriented and loves solving problems and puzzles

• Enjoys math and economics

Tom

• Enjoys creative writing and social media

• Likes routine

Lynn

• Likes physical work and working with tools

• Enjoys science and math

Does becoming an auditor sound like a good path for you?

If so...