Financial Auditor Jobs

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The term financial audit refers to the scrutiny and review of the fiscal statements of an organization or a governing body, thereby publishing an unbiased opinion regarding the financial status of the company. Auditors highlight aspects like accuracy, relevancy, fairness in presentation and compliance with federal law. A financial auditor is a professional who audits the financial records and subsequently releases a fiscal profile objectively viewing the financial integrity of an organization.

The core job responsibility of a tax auditor is assessing the accuracy of every financial statement of a company and ensuring financial compliance. The main tasks and duties are listed below:
  • Adding credibility to the claims made by a company concerning its financial status, position and performance.
  • Scrutiny of a company's balance sheet with emphasis on income statements and cash flow of the organization over a period of time.
  • Matching the statements made by the employees and managers with the financial records created by the company.
  • A detailed examination of the company's adherence to laws and rules, reviewing tax and insurance documents and also the objectivity of the company in terms of fulfilling its goals.
  • Addressing various issues that emerge through the audit process to company management and members participating in the audit.
  • Thorough examination of the company's expenditures, profits and losses and also identifying fraud if any, thereby correcting any negative issues found.
  • Risk assessment and management; strongly focusing on the possible risks that may arise in the company and developing risk management techniques.
  • Publishing reports and auditor records on completion of audit highlighting the detailed findings and recommendations
The basic skill set auditors must have are given below:
  • Unbiased and uninvolved attitude in the auditing process
  • Farsightedness in terms of risk assessment and management
  • Strong insight in the financial field
  • Leadership skills; confidently interacting with people of all levels
  • Strong communication as well as inter-personal skills
  • Good mathematical skill and a sound mathematical mind
  • A bachelor's degree is the minimum requirement.
  • In addition to earning a Bachelor of Science (B.S.) in Accounting, an auditor should be a Certified Financial Auditor (CFA)
  • The American Institute of Certified Accountants (AICPA) offers professional credentials for auditors.
  • Although it is not mandatory, auditors who have graduated with a bachelor's degree can pursue a Master of Science (M.S.) degree in auditing too.
  • It is advantageous to have work experience in the field. In order to be a certified auditor, completing the CIA examination is required.
The salary structure of auditors depends upon experience and qualification and varies from company to company and from one location to another.

With a bachelor's degree alone, an auditor can earn a median salary of $23,000 annually which escalates to approximately $43,000 if a master's degree is acquired. Work experience of less than two years can increase an auditor's salary to approximately $40,000 annually. Salary increases occur with an increase in experience. Working over four years can yield a salary of $50,000 to $60,000. With 20 or more years of experience, an auditor can earn more than $80,000 annually.

Financial audit of a company decides the fate of the company with its shareholders and investors. The financial status and integrity of a company reflects the company's prestige in the eyes of legal bodies and other organizations as well. Financial auditors continue to play a key role in restoring a company's good will and protecting it from all possible risks.
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 risk managers  profits  risks  integrity  experienced workers  financial audits  balance sheets  examinations  financial statements  assessments

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