What does an auditor do?
An auditor is responsible for reviewing financial statements and making sure that the reports align with the accounting principles and legislative standards. Some of the important duties of an auditor are verifying the company's account statements, ensuring that the business is free from fraud and other unusual activities, providing recommendations to boost operations' performance, and creating financial reports for the board. An auditor should have excellent analytical and decision-making skills to spot inaccuracies of financial statements and resolve financial issues immediately.
Auditor responsibilities
Here are examples of responsibilities from real auditor resumes:
- Lead FDA readiness audits and participate in regulatory inspections.
- Manage the collection, analysis and verification of managerial payroll information to detect fraud and/or unethical practices.
- Work with department analyst to create measurement tools and methods for communicating results and managing QA analysis in compiling/reporting results.
- Perform semi-annual financial audits w/ externally contract CPA to validate accounts payable and receivables.
- Develop and facilitate training for SOX process owners and other stakeholders using Microsoft PowerPoint.
- Work efficiently and effectively with various process owners to develop SOX specific business processes and mating documentation controls.
- Perform focuse audits on providers that are not compliant with CMS documentation guidelines; provide individualize audit results and education.
- Conduct compliance and/or financial audits to verify the accuracy and overall efficiency of Medicaid billing of medical facilities and providers.
- Prepare financial statements according to the IFRS.
- Complete OSHA training for ladders and electrical safety.
- Assure Medicare and company compliance with all patient accounts.
- Ensure that the disclosure notes are accurately report under IFRS.
- Administer balance confirmations for; cash, treasury, and insurance accounts.
- Provide support for compliance officer in department of justice negotiations on Medicare costs.
- Perform investigations regarding allegations of fraud, waste & abuse and HIPAA privacy violations.
Auditor skills and personality traits
We calculated that 18% of Auditors are proficient in Audit Reports, Customer Service, and Financial Statements. They’re also known for soft skills such as Analytical skills, Communication skills, and Detail oriented.
We break down the percentage of Auditors that have these skills listed on their resume here:
- Audit Reports, 18%
Documented audit procedures and work papers; proposed adjusting journal entities; drafted management representation letter comments and audit reports.
- Customer Service, 8%
Ensured store Standard Operating Procedure compliance, including customer service initiatives, loss prevention security measures, and federal safety regulations.
- Financial Statements, 6%
Verified bank account confirmations, payroll check registers, quarterly financial statements, and reconciled discretionary fund disbursements with budget projections.
- Audit Findings, 5%
Draft reports are submitted upon review of each audit to participating providers detailing audit findings along with audit recommendations for improvement.
- Audit Procedures, 5%
Implemented audit procedures including obtaining an understanding of routine data processes, testing controls and performing substantive procedures for various companies.
- Payroll, 5%
Ensured that pension hours were properly recorded by performing audit analysis of payroll records using proprietary audit software.
Most auditors use their skills in "audit reports," "customer service," and "financial statements" to do their jobs. You can find more detail on essential auditor responsibilities here:
Communication skills. Another essential skill to perform auditor duties is communication skills. Auditors responsibilities require that "accountants and auditors must be able to listen to and discuss facts and concerns from clients, managers, and other stakeholders." Auditors also use communication skills in their role according to a real resume snippet: "implement and maintain verbal and written communication with cpa firm clients and government agencies. "
Detail oriented. This is an important skill for auditors to perform their duties. For an example of how auditor responsibilities depend on this skill, consider that "accountants and auditors must pay attention to detail when compiling and examining documents." This excerpt from a resume also shows how vital it is to everyday roles and responsibilities of an auditor: "conducted fraud brainstorming and fraud/internal control risk assessments of detailed financial and accounting records. ".
Math skills. For certain auditor responsibilities to be completed, the job requires competence in "math skills." The day-to-day duties of an auditor rely on this skill, as "accountants and auditors must be able to analyze, compare, and interpret facts and figures." For example, this snippet was taken directly from a resume about how this skill applies to what auditors do: "used computerized audit techniques and quantitative methods to systematically appraise and analyze financial reports and accounting records. "
Organizational skills. Another common skill required for auditor responsibilities is "organizational skills." This skill comes up in the duties of auditors all the time, as "strong organizational skills are important for accountants and auditors, who often work with a range of financial documents for a variety of clients." An excerpt from a real auditor resume shows how this skill is central to what an auditor does: "maintain and display exceptional organizational, time management and customer service representation skills. "
The three companies that hire the most auditors are:
- Change Healthcare181 auditors jobs
- Zurich103 auditors jobs
- Optimum Nutrition98 auditors jobs
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Compare different auditors
Auditor vs. Corporate accountant
A corporate accountant is an individual who prepares financial statements and maintains financial records of an organization to ensure that they comply with laws, regulations, and the organization's policies. Corporate accountants are required to analyze financial statements to help executives make financial decisions for the organization. They must collect ledgers and financial reports from divisional offices and prepare corporate financial statements for executives. Corporate accountants must also prepare budgets to allocate funds for spending for each department.
These skill sets are where the common ground ends though. The responsibilities of an auditor are more likely to require skills like "audit reports," "customer service," "audit findings," and "audit procedures." On the other hand, a job as a corporate accountant requires skills like "reconciliations," "gaap," "account reconciliations," and "general ledger accounts." As you can see, what employees do in each career varies considerably.
Corporate accountants earn the highest salaries when working in the finance industry, with an average yearly salary of $71,156. On the other hand, auditors are paid more in the professional industry with an average salary of $75,596.The education levels that corporate accountants earn slightly differ from auditors. In particular, corporate accountants are 3.7% more likely to graduate with a Master's Degree than an auditor. Additionally, they're 0.3% less likely to earn a Doctoral Degree.Auditor vs. Tax professional
A tax professional is responsible for conducting tax procedures, ensuring that all tax documents are filed timely and accurately. Tax professionals review financial statements, verify adjustments, and resolve account discrepancies. They also handle financial reports and collate related account documents. A tax professional should be highly-communicative and analytical, especially on solving tax complexities, as well as preventing financial risks and excessive loss. A tax professional may also file for dispute on a case-to-case basis for any inaccuracies on tax statements.
Each career also uses different skills, according to real auditor resumes. While auditor responsibilities can utilize skills like "audit reports," "audit findings," "audit procedures," and "advanced computer," tax professionals use skills like "strong customer service," "individual tax returns," "irs," and "taxable income."
Tax professionals may earn a higher salary than auditors, but tax professionals earn the most pay in the government industry with an average salary of $73,335. On the other hand, auditors receive higher pay in the professional industry, where they earn an average salary of $75,596.tax professionals earn similar levels of education than auditors in general. They're 1.3% more likely to graduate with a Master's Degree and 0.3% less likely to earn a Doctoral Degree.Auditor vs. General accountant
A general accountant is responsible for evaluating account statements, conducting data analysis with financial transactions, and generating reports on revenues, expenses, and sales forecasting. These accountants manage discrepancies on the company and clients' profiles, including bank reconciliations and processing of account receivables and payables. They also handle the release of invoices and petty cash, analyzing balance sheets, and updating accurate financial information on the database. A general accountant must have excellent analytical skills, as well as extensive knowledge of the accounting principles and disciplines.
Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from auditor resumes include skills like "audit reports," "customer service," "financial statements," and "audit findings," whereas a general accountant is more likely to list skills in "reconciliations," "cash handling," "vendor invoices," and "general ledger accounts. "
General accountants earn the highest salary when working in the automotive industry, where they receive an average salary of $63,004. Comparatively, auditors have the highest earning potential in the professional industry, with an average salary of $75,596.When it comes to education, general accountants tend to earn similar degree levels compared to auditors. In fact, they're 1.6% more likely to earn a Master's Degree, and 0.3% more likely to graduate with a Doctoral Degree.Auditor vs. Staff accountant
Staff accountants are employees who are part of the company's accounting department. They are usually certified public accountants (CPAs). Staff accountants should be familiar with accounting tasks. Previous accounting experiences play a huge advantage in their success. They perform a variety of accounting responsibilities such as information verification and analysis, financial report preparation and presentation, financial account reconciliation, billing and payment receiving activities, vendor database management, and invoice processing requirements. They should also know how to do bookkeeping. Staff accountants should have good communication skills, analytical skills, and decision-making skills. They should also be organized and trustworthy since they will be handling confidential information.
Types of auditor
Updated January 8, 2025
