What does an internal auditor do?

An audit specialist is responsible for evaluating the reports by a professional auditor that will assist in improving the growth of the organization to achieve its goals and objectives. Audit specialists aid in the development of the company by using a systematic approach to reach the goals set by the company. Primary responsibilities include operating complex and difficult audit projects and conducting audits of control, financial, and other operating records. Also, they develop, implement distinct audit strategies, programs, and procedures for intricate assignments.

There are some key differences in the responsibilities of each position. For example, internal auditor responsibilities require skills like "cpa," "risk management," "internal audit function," and "internal control procedures." Meanwhile a typical audit specialist has skills in areas such as "audit reports," "patients," "data entry," and "internal controls." This difference in skills reveals the differences in what each career does.

An auditor supervisor is a financial professional who manages a staff of audit professionals and controls consulting engagements that evaluate the management and operating practices of a corporate. This supervisor is required to supervise audit planning and fieldwork as well as communicates findings and recommendations to senior management. To ensure that audit staff follows the department's methodology, the supervisor must supervise the audit staff and review their automated audit work papers. The supervisor must also ensure that reviews are following the standards of the corporate audit department and the Institute of Internal Auditors (IIA).

While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that internal auditor responsibilities requires skills like "risk management," "internal audit function," "financial statements," and "powerpoint." But an auditor supervisor might use other skills in their typical duties, such as, "audit reports," "excellent interpersonal," "internal controls," and "night audit."

The duties of an auditor/consultant depend on one's line of work or industry of employment. Typically, their responsibilities include coordinating with different departments to gather and analyze data, performing audits and assessments on all financial activities, looking out for any errors and discrepancies, reviewing documentation, identifying the strengths and weaknesses of current systems, and developing strategies to optimize all operations. Furthermore, an auditor/consultant must recommend methods and solutions in adherence to the company's policies and regulations, including its vision and mission.

There are many key differences between these two careers, including some of the skills required to perform responsibilities within each role. For example, an internal auditor is likely to be skilled in "internal audit function," "powerpoint," "internal control procedures," and "acls," while a typical auditor/consultant is skilled in "healthcare," "project management," "data analysis," and "hipaa."

An audit intern is responsible for assisting the finance department in processing financial reports, analyzing account statements, releasing invoices, and conducting tax audits. Audit interns shadow tenured staff on the operation procedures to familiarize themselves with work processes. They are also tasked to do administrative and clerical duties under the supervision of a direct supervisor, such as writing reports, ensuring the accuracy of financial statements, responding to clients' inquiries and concerns, and escalating high-level complaints to the supervisor for immediate resolution.