Some people are thinking about a career as a financial auditor, so they need to ask themselves, “What does a financial auditor do.” A financial auditor inspects and evaluates accounting records to establish the financial position of an individual or company. The individual will prepare financial documents and reports regarding operating procedures, and he will look at data concerning important resources, worth, liabilities, income and expenditures. Other job descriptions for a financial auditor include making sure proper accounting procedures were followed, counting cash, verifying check payments, preparing reports and examining company payroll records. A bank examiner might also be another title that a financial advisor incorporates. An auditor might work at an accounting firm or a government organization.
Degrees and Experience Needed
To become a financial auditor it is wise for individuals to have education in accounting and math; therefore, a person should take the appropriate classes in high school. To become a certified auditor, individuals need to obtain a bachelor’s degree at an accredited institution of higher learning. Individuals should obtain a degree in accounting, economics, finance or math. An auditor must work for two years as an internal auditor to become a Certified Internal Auditor. To apply to be a certified auditor, a person will need an official transcript from their college, and he will need to ask a professor or other qualified person to complete a character reference form. Individuals will then need to take a certification examination, which is given two times each year.
People who wish to become financial auditors should take part in an internship or training program. Government agencies provide training programs for future auditors.
How much does a Financial Auditor Make?
A financial auditor earns approximately $60,000 each year and around $35.00 per hour. However, some auditors make as much as $100,000 depending on career level, experience and skill. Auditors who work in accounting and tax services make around $72,000 annually, and auditors that deal with management of companies make about $66,000. Individuals can make a higher salary if they work in the federal executive branch of government. New York pays the highest salary to auditors, and the District of Columbia, Colorado and Delaware pay a high salary to auditors.
In some cases, employers are more likely to hire an auditor if he is a Certified Public Accounting. The job prospect for financial auditors is very promising. Almost 100,000 auditing jobs can be found throughout the world, and that number is increasing each year. As the economy continues to improve, more businesses will be established; therefore, more auditors will be needed. For people who ask themselves, “What does a financial auditor do,” they should research the job opportunities to see if the profession might be perfect for them.