A Career as an Auditor

The job role

Auditors can be employed to undertake:

• Internal Audits – full reviews of a company’s profits, costs, stocks, wages or other variables
• External Audits – independent assessments of a business’s financial status to enable an accurate picture of profit and loss

The main role is ostensibly the same whether employed internally or externally: to analyse accounts, assess finances and identify areas where the business is at risk.  In addition, an Internal Auditor can evaluate working practices, systems and procedures, and suggest possible improvements.

Relevant qualifications

Members of the Association of Chartered Certified Accountants (ACCA), the Institute of Chartered Accountants (ICA) and the Association of International Accountants (AIA) are the only people qualified to undertake statutory company audits while public sector audits can be conducted by members of the Chartered Institute of Public Finance and Accountancy (CIPFA).  Membership of the Chartered Institute of Management Accountants (CIMA) is an alternative qualification for carrying out internal audits and an audit qualification is also required.

Skills requirements

Auditors are often required to work long hours to ensure that audits are completed on time; they should also be prepared to travel extensively to client sites.  The audit process relies heavily on the use of computers so Auditors should be proficient in applications used for data analysis and reporting.  An Auditor must be able to demonstrate a good understanding of the businesses they audit and should ensure professionalism and discretion when handling information that is confidential and sensitive in nature.

Career development

External Auditors are employed by firms of Chartered or Certified Accountants as well as by the National Audit Commission and the Audit Commission.  Most industry sectors employ Internal Auditors and promotion is available up to Senior Audit Manager with overseas opportunities also possible.