Most auditors list "audit reports," "customer service," and "financial statements" as skills on their resumes. We go into more details on the most important auditor responsibilities here:
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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 representing typical tasks they are likely to perform in their roles.
- 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.
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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.
The three companies that hire the most prestigious auditors are:
- Change Healthcare181 Auditors Jobs
- Zurich103 Auditors Jobs
- Optimum Nutrition98 Auditors Jobs
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What Corporate Accountants Do
A corporate accountant is a professional 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.
In this section, we compare the average auditor annual salary with that of a corporate accountant. Typically, corporate accountants earn a $9,447 higher salary than auditors earn annually.
While their salaries may differ, one common ground between auditors and corporate accountants are a few of the skills required in each craft. In both careers, employees bring forth skills like financial statements, internal audit, and cpa.
These skill sets are where the common ground ends though. An auditor responsibility is more likely to require skills like "audit reports," "customer service," "audit findings," and "audit procedures." Whereas a corporate accountant requires skills like "reconciliations," "gaap," "account reconciliations," and "general ledger accounts." Just by understanding these different skills you can see how different these careers are.
Corporate accountants receive the highest salaries in the finance industry coming in with an average yearly salary of $71,156. But auditors are paid more in the professional industry with an average salary of $75,596.
The education levels that corporate accountants earn is a bit different than that of 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.
What Are The Duties Of a 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.
The next role we're going to look at is the tax professional profession. Typically, this position earns a higher pay. In fact, they earn a $5,388 higher salary than auditors per year.
A similarity between the two careers of auditors and tax professionals are a few of the skills associated with both roles. We used resumes from both professions to find that both use skills like "customer service," "financial statements," and "payroll. "
But both careers also use different skills, according to real auditor resumes. While auditor responsibilities can utilize skills like "audit reports," "audit findings," "audit procedures," and "advanced computer," some 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 side of things, auditors receive higher paychecks in the professional industry where they earn an average of $75,596.
On the topic of education, 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.
How a General Accountant Compares
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.
Let's now take a look at the general accountant profession. On average, these workers make higher salaries than auditors with a $190 difference per year.
By looking over several auditors and general accountants resumes, we found that both roles utilize similar skills, such as "cpa," "sox," and "financial reports." But beyond that the careers look very different.
Some important key differences between the two careers are a few of the skills necessary to fulfill responsibilities. Some examples from auditor resumes include skills like "audit reports," "customer service," "financial statements," and "audit findings," whereas a general accountant might be skilled in "reconciliations," "cash handling," "vendor invoices," and "general ledger accounts. "
Additionally, general accountants earn a higher salary in the automotive industry compared to other industries. In this industry, they receive an average salary of $63,004. Additionally, auditors earn an average salary of $75,596 in the professional industry.
When it comes to education, general accountants tend to earn similar education levels than 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.
Description Of a 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.
Now, we'll look at staff accountants, who generally average a lower pay when compared to auditors annual salary. In fact, the difference is about $637 per year.
While both auditors and staff accountants complete day-to-day tasks using similar skills like cpa, real estate, and sox, the two careers also vary in other skills.
Each job requires different skills like "audit reports," "customer service," "financial statements," and "audit findings," which might show up on an auditor resume. Whereas staff accountant might include skills like "reconciliations," "account reconciliations," "gaap," and "general ledger accounts."
In general, staff accountants make a higher salary in the government industry with an average of $57,168. The highest auditor annual salary stems from the professional industry.
Staff accountants reach similar levels of education when compared to auditors. The difference is that they're 1.5% more likely to earn a Master's Degree more, and 0.4% less likely to graduate with a Doctoral Degree.
Types Of Auditor
Staff Accountant
Average Salary: $54,216
Bachelor's Degree
Available Jobs: 85,307
How To Become a Staff Accountant
Internal Auditor
Average Salary: $63,013
Bachelor's Degree
Available Jobs: 13,064
How To Become an Internal Auditor
Accounting Analyst
Average Salary: $58,399
Bachelor's Degree
Available Jobs: 7,060
How To Become an Accounting Analyst
Tax Professional
Average Salary: $60,241
Bachelor's Degree
Available Jobs: 6,950
How To Become a Tax Professional
Staff Auditor
Average Salary: $55,431
Bachelor's Degree
Available Jobs: 5,706
How To Become a Staff Auditor
Quality Assurance Auditor
Average Salary: $77,535
Bachelor's Degree
Available Jobs: 5,301
How To Become a Quality Assurance Auditor
What an Auditor Does FAQs
Auditor Vs. Accountant
An auditor is a financial professional that verifies the work accountants do, while an accountant is a professional that keeps financial records for an individual or company.
Auditors come after accountants have performed their financial record keeping. They examine documents and other information prepared by accountants to ensure they are giving an accurate picture of a company's financial situation. Auditors verify that these financial statements are assembled in accordance with generally accepted accounting principles.
Do Auditors Get Paid Well?
Yes, auditors can get paid well. On average, they make $56,000 yearly ($4,682 monthly or $27 hourly).
As most jobs go, factors like location, industry, and experience can determine your exact pay. On the lower end of the salary range, they can make about $37,000, typically for entry-level positions or for low-paying states like Montana. On the higher end, they can earn about $83,000, typically for senior-level positions.
Is Auditing A Hard Job?
Yes, auditing can be a hard job due to its critical responsibility of reviewing financials to make sure it corresponds to regulations and legal standards.
In general, it can be nerve-wracking to ensure everything is lawful when it comes to jobs that handle money. The best auditors typically have excellent analytical and decision-making skills to spot inaccuracies of financial statements and resolve financial issues.
What Do Auditors Do On A Daily Basis?
An auditor reviews financial records, assesses internal controls, and prepares audit reports on a daily basis. The nature of their work requires attention to detail, analytical skills, and a thorough understanding of financial principles and regulations to ensure the accuracy and integrity of financial information. It's important to note, however, that an auditor's daily activities can vary depending on their specific role, employer, and industry.
Here are the three main types of auditors and what they do on a daily basis:
Financial auditors. These auditors examine and analyze financial records, statements, and transactions of organizations to ensure accuracy, compliance, and integrity. They review financial documents, conduct interviews with company personnel, and verify the accuracy of financial data. They also assess internal controls, identify potential risks or discrepancies, and prepare detailed audit reports.Internal auditors. These auditors work within organizations to assess and improve the effectiveness of internal controls, risk management, and governance processes. They review operational processes, conduct risk assessments, and evaluate compliance with policies and procedures. They also provide recommendations for process improvements, assist in fraud investigations, and communicate audit findings to management.
IT auditors. These auditors evaluate and assess the effectiveness and security of information technology systems and controls. They spend their days reviewing IT policies and procedures, conducting system vulnerability assessments, and testing data security measures. They also analyze IT infrastructure, identify potential risks, and make recommendations for enhancing information security and data privacy.
Have more questions? See all answers to common business and financial questions.