What does an auditor do?

Posted by Fed Finance Canada in Our employment advice
Posted at 08/09/2020
What does an auditor do?
One of the most important jobs in accounting is an auditor. Auditors ensure the accuracy of a company’s accounts and finances. What are the daily tasks of auditors, and what skills and qualifications are required to pursue this career? Find out in this article.

Daily tasks of auditors

The main role of an auditor is to collect and analyze a company’s financial data to confirm the accuracy of its accounts. Specifically, they perform audits to assess the reliability of accounts and finances.

External auditors

Most auditors work in accounting firms. They therefore perform external audits, meaning they asses the accounts of other companies.

The daily tasks of an external auditor are similar to the following:

·      Reviewing internal financial processes and systems

·      Conducting interviews to gather information on the company’s finances

·      Processing and analyzing collected data

·      Offering advice to companies to improve their financial management

·      Writing audit reports

·      Explaining audit reports to clients

Internal auditors

Auditors can also work internally for a company. Internal auditors have more experience and responsibilities than external auditors, but generally speaking, only large corporations can afford to hire internal auditors.

The daily tasks of internal auditors are only slightly different from those of external auditors:

·      Analyzing the company's activities, systems and procedures

·      Assessing the accuracy of financial data and systems

·      Conducting interviews with employees to gather information on the company’s finances

·      Ensuring that the company complies with various regulations

·      Identifying potential gaps in the company’s various processes and working with management to update them

·      Writing audit reports and explaining the results to management

Skills and competencies of an auditor

An auditor job candidate must have a highly critical and analytical mind since a large part of the job is based on data analysis and the ability to develop conclusions from this analysis.

Auditors must also have an ability for systemic thinking, which is especially important when writing audit reports. They must be able to explain results clearly and express their ideas concisely.

They must also be organized. This is particularly true for external auditors, who often have to juggle several files at the same time.

Auditors must have good communication and interpersonal skills. This quality is especially useful when conducting interviews.

Finally, an auditor must be comfortable new technologies and know how to adapt to changes since they use specialized software that can process data quickly.

Qualifications to become an auditor

Obtaining a bachelor’s in accounting is necessary to become an external auditor. Completing a master’s may also be an asset and help you stand out to employers. A CPA title is also often requested for this job.

The qualifications to be an internal auditor slightly differ. You must first obtain a bachelor’s degree in business administration or accounting before completing an MBA (Master of Business Administration). It is mandatory for internal auditors to hold one of the following titles: CPA, CIA, CISA or CGAP.

Find a job as an external or internal auditor in Quebec

That completes the overview of the tasks, responsibilities, competencies and qualifications of internal and external auditors. This career is always in demand in Quebec, so future prospects are promising.

Are you looking for a job as an external or internal auditor in Quebec? The specialists at Fed Finance can help you find a job that fits your needs. Visit our job offers to find your dream job!


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