Auditor
What is the work like?
Auditors examine accounts to see how well organisations control their finances. They are usually qualified accountants who specialise in audit, and they can be ‘external’ or ‘internal’ auditors.
As an external auditor, you would produce an independent review of a company's accounts to make sure they are accurate and show a fair view of its financial position. You might also audit government, councils and other public sector organisations to check how public money is being spent and to see if savings can be made. Most organisations are required by law to publish audited accounts.
Your work as an external auditor would involve:
- examining company accounts
- collecting and interpreting figures
- identifying any problems or risks to the business
- assessing the company's financial reporting systems
- establishing good working relationships with clients
- making recommendations for improvements.
As an internal auditor, you would examine an organisation’s polices, procedures and/or finances, and advise on how it could improve efficiency. You would often be an employee of the organisation, or you might work for a specialist outsourced service.
What qualifications and experience will employers look for?
To become an external auditor, you must be a qualified chartered accountant with one of the following professional bodies:- Association of Chartered Certified Accountants (ACCA)
- Institute of Chartered Accountants in England and Wales (ICAEW)
- Institute of Chartered Accountants of Scotland (ICAS)
- Institute of Chartered Accountants in Ireland (ICAI)
- Association of International Accountants (AIA).
To start training as an accountant with any of the above organisations, you will normally need:
- at least three GCSEs (A-C) including English and maths, plus
- two A levels, or equivalent qualifications or work experience.
Contact the professional bodies for more details, and see related profiles for more information about training and qualifying as an accountant.
If you are qualified with the Chartered Institute of Management Accountants (CIMA), you can carry out internal audits, but you cannot conduct external audits unless you take further audit training with another accountancy body (see the Management Accountant profile for more information).
You do not have to be an accountant to become an internal auditor, although it would be an advantage. If you are new to internal audit, you may find it helpful to take the Institute of Internal Auditors (IIA) Certificate in Internal Audit and Business Risk. See the Institute's website for more details.
What further training and development can I do?
To qualify as an authorised external auditor, you must:
- have been a qualified chartered accountant for at least two years, and
- hold a practising certificate and audit qualification from your professional body.
To achieve the practising certificate, you must submit a record of your professional experience since qualifying. The way to gain the audit qualification will depend on the accountancy body you qualified with. For example:
- ICAEW, ICAS, ICAI or AIA – at least one third of the post-qualifying experience in your professional training record must come from an auditing role
- ACCA – you must have taken the Audit and Assurance exam option during your training, and later pass an Audit Orientation Course and Test.
As an experienced internal auditor, you could take further qualifications and training from the Institute of Internal Auditors (IIA), such as:
- Diploma in Internal Audit Practice
- Advanced Diploma in Internal Auditing and Management.
If you work in the public sector, you could take the CIPFA Diploma in Public Audit (DPA). Because it covers internal audit as well as external, the DPA is open to you if you are not a fully-qualified CIPFA accountant. It will also count towards your training if you later decide to progress to the full CIPFA Professional Accountancy Qualification (see Public Finance Accountant).
Where can I go for more information?
Staithes 3The Watermark
Metro Riverside
Newcastle upon Tyne
NE11 9SN
Tel: 0191 493 0277
London
WC2N 6RL
Tel: 020 7543 5600
88 Clapham Park Road
London
SW4 7BX
Tel: 0845 883 4739
89 Hydepark Street
Glasgow
G3 8DT
Tel: 0141 582 2000
If you would like to discuss your career options with a learning adviser at Careers Advice, call 0800 100 900 or use our online enquiry form
Related profiles...
What salary and other benefits can I expect?
- Part-qualified salaries are usually between £18,000 and £25,000 a year.
- Once qualified, earnings are usually around £30,000 to £45,000.
- Senior and management salaries can be between £50,000 and £70,000.
What are the hours and working conditions?
You would normally work between 35 and 40 hours per week, Monday to Friday, with occasional overtime to meet deadlines at busy times. Part-time work may be possible.
You could work from your own office or at the client's premises. Some travelling to other sites is often involved, and you may have to spend some nights away from home.
What skills and knowledge will I need?
- the ability to interpret figures and information
- excellent mathematical and IT skills
- good spoken and written communication skills
- strong analytical and problem-solving ability
- good organisational and time management skills
- a high degree of accuracy and attention to detail
- the ability to work both independently and as part of team
- a good understanding of business
- honesty and discretion, for dealing with sensitive business information.
What opportunities are there?
As an external auditor you could work for a firm of chartered accountants, the National Audit Office (which audits central government departments), or the Audit Commission (which audits public bodies like local authorities and the NHS). As an internal auditor you could work for large companies in all kinds of industry, public sector organisations, or for firms that provide internal audit services to clients.
Jobs may be advertised in the local, national and industry press, and by specialist recruitment agencies.
With experience, you could specialise in an area such as taxation, insolvency or forensic accounting. You could also move into management or choose to work freelance.You may find the following links useful for job vacancies and general reading (links open new window):
Audit Professionals
Careers In Audit
Accountancy
Accountancy Age
IIA Career Centre
Public Finance
eFinancialCareers
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