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Become An Inventory Auditor

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Working As An Inventory Auditor

  • Getting Information
  • Evaluating Information to Determine Compliance with Standards
  • Communicating with Supervisors, Peers, or Subordinates
  • Updating and Using Relevant Knowledge
  • Analyzing Data or Information
  • Deal with People

  • Mostly Sitting

  • $65,000

    Average Salary

What Does An Inventory Auditor Do At at&T

* Administering property control program activities to ensure continual accountability of government property and assets in accordance with applicable policies and government regulations.
* Maintaining property accountability records and determining condition and arranges disposal of surplus or obsolete material or equipment.
* Working knowledge of Service Now, ticketing systems and ITIL.
* Maintaining some affiliation or certifications with asset management special interest groups such as the National Association of Property Management is a plus.
* Four (4) years of experience working with distributed computer systems, software and associated communication networks.
* Can follow detailed work instructions.
* Familiarity with desktop, network, or server rack equipment is a plus.
* Possesses a working knowledge of the asset inventory process

What Does An Inventory Auditor Do At Belcan

* schedule all counting activities, recount activities and coordinate with department supervisors on investigations and corrective actions needed to improve the inventory accuracy.
* entry of cycle counts into the inventory system, recording results and reporting monthly accuracies by area.
* entry of all material adjustments and tracking and monitoring these activities.
* Able to work with minimal supervision on tasks encompassing Cycle counting activities
* Systematic transactions as related to inventory and cycle counting, as well as investigation of
* discrepancies in the inventory control system
* Knows to whom and where to communicate deficiencies within the inventory control system and to suggest corrective actions to prevent recurrence
* Work and communicate in a cross-functional environment including Quality, Manufacturing and Engineering departments
* Plan and track tasks to align with project plan and team objectives
* Basic MRP and planning processes
* Assist planning in the establishment and execution of internal Kanban processes
* Maintains metrics related to cycle counting and inventory adjustment activities

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How To Become An Inventory Auditor

Most accountants and auditors need at least a bachelor’s degree in accounting or a related field. Certification within a specific field of accounting improves job prospects. For example, many accountants become Certified Public Accountants (CPAs).  

Education

Most accountant and auditor positions require at least a bachelor’s degree in accounting or a related field. Some employers prefer to hire applicants who have a master’s degree, either in accounting or in business administration with a concentration in accounting.

A few universities and colleges offer specialized programs, such as a bachelor’s degree in internal auditing. In some cases, those with associate’s degrees, as well as bookkeepers and accounting clerks who meet the education and experience requirements set by their employers, get junior accounting positions and advance to accountant positions by showing their accounting skills on the job.

Many colleges help students gain practical experience through summer or part-time internships with public accounting or business firms.

Licenses, Certifications, and Registrations

Every accountant filing a report with the Securities and Exchange Commission (SEC) is required by law to be a Certified Public Accountant (CPA). Many other accountants choose to become a CPA to enhance their job prospects or to gain clients. Many employers will often pay the costs associated with the CPA exam.

CPAs are licensed by their state’s Board of Accountancy. Becoming a CPA requires passing a national exam and meeting other state requirements. Almost all states require CPA candidates to complete 150 semester hours of college coursework to be certified, which is 30 hours more than the usual 4-year bachelor’s degree. Many schools offer a 5-year combined bachelor’s and master’s degree to meet the 150-hour requirement, but a master’s degree is not required.

A few states allow a number of years of public accounting experience to substitute for a college degree.

All states use the four-part Uniform CPA Examination from the American Institute of Certified Public Accountants (AICPA). Candidates do not have to pass all four parts at once, but most states require that they pass all four parts within 18 months of passing their first part.

Almost all states require CPAs to take continuing education to keep their license.

Certification provides an advantage in the job market because it shows professional competence in a specialized field of accounting and auditing. Accountants and auditors seek certifications from a variety of professional societies. Some of the most common certifications are listed below:

The Institute of Management Accountants offers the Certified Management Accountant (CMA) to applicants who complete a bachelor’s degree. Applicants must have worked at least 2 years in management accounting, pass a two-part exam, agree to meet continuing education requirements, and comply with standards of professional conduct. The exam covers areas such as financial statement analysis, working-capital policy, capital structure, valuation issues, and risk management. 

The Institute of Internal Auditors (IIA) offers the Certified Internal Auditor (CIA) to graduates from accredited colleges and universities who have worked for 2 years as internal auditors and have passed a four-part exam. The IIA also offers the Certified in Control Self-Assessment (CCSA), Certified Government Auditing Professional (CGAP), Certified Financial Services Auditor (CFSA), and Certification in Risk Management Assurance (CRMA) to those who pass the exams and meet educational and experience requirements.

ISACA offers the Certified Information Systems Auditor (CISA) to candidates who pass an exam and have 5 years of experience auditing information systems. Information systems experience, financial or operational auditing experience, or related college credit hours can be substituted for up to 3 years of experience in information systems auditing, control, or security.

For accountants with a CPA, the AICPA offers the option to receive any or all of the Accredited in Business Valuation (ABV), Certified Information Technology Professional (CITP), or Personal Financial Specialist (PFS) certifications. The ABV requires a written exam, completion of at least six business valuation projects, and 75 hours of continuing education. The CITP requires 1,000 hours of business technology experience and 75 hours of continuing education. Candidates for the PFS also must complete a certain amount of work experience and continuing education, and pass a written exam.

Advancement

Some top executives and financial managers have a background in accounting, internal auditing, or finance.

Beginning public accountants often advance to positions with more responsibility in 1 or 2 years and to senior positions within another few years. Those who excel may become supervisors, managers, or partners; open their own public accounting firm; or transfer to executive positions in management accounting or internal auditing in private firms.

Management accountants often start as cost accountants, junior internal auditors, or trainees for other accounting positions. As they rise through the organization, they may advance to accounting manager, chief cost accountant, budget director, or manager of internal auditing. Some become controllers, treasurers, financial vice presidents, chief financial officers, or corporation presidents.

Public accountants, management accountants, and internal auditors can move from one aspect of accounting and auditing to another. Public accountants often move into management accounting or internal auditing. Management accountants may become internal auditors, and internal auditors may become management accountants. However, it is less common for management accountants or internal auditors to move into public accounting.

Important Qualities

Analytical skills. Accountants and auditors must be able to identify issues in documentation and suggest solutions. For example, public accountants use analytical skills in their work to minimize tax liability, and internal auditors use these skills to detect fraudulent use of funds.  

Communication skills. Accountants and auditors must be able to listen carefully to facts and concerns from clients, managers, and others. They must also be able to discuss the results of their work in both meetings and written reports.

Detail oriented. Accountants and auditors must pay attention to detail when compiling and examining documentation.

Math skills. Accountants and auditors must be able to analyze, compare, and interpret facts and figures, although complex math skills are not necessary.

Organizational skills. Strong organizational skills are important for accountants and auditors who often work with a range of financial documents for a variety of clients.

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Top Skills for An Inventory Auditor

InventoryAuditsRgisRetailStoresCustomerServiceFinancialReportsDataEntryInventoryEquipmentInventoryControlAPHCycleCountsLossPhysicalInventoryCountsDepartmentAuditReportsStoreInventoryGroceryStoresInventoryReportsCompanyPoliciesInventoryRecordsComputerDataSalesFloor

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Top Inventory Auditor Skills

  1. Inventory Audits
  2. Rgis
  3. Retail Stores
You can check out examples of real life uses of top skills on resumes here:
  • Performed inventory audits for various companys.
  • Provided accurate, reliable and efficient inventory services such as: Data collection and reconciliation using RGIS service equipment and software.
  • Counted items at retail stores using a laser and an audit machine
  • Cashiered customers in a timely manner while performing excellent customer service.
  • Created and distributed product movement and financial reports to managers and department heads.

Top Inventory Auditor Employers

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