How to Become an Auditor

Auditing is a vital role in any business, ensuring that companies meet their financial obligations and legal requirements, so having the right skills and qualifications is important for anyone looking to pursue a career as an auditor.

This guide outlines the steps you need to take for becoming an auditor, from getting the right qualifications to the specific roles and responsibilities you will have in the role.

Education Requirements

Most university and college accounting courses provide the knowledge required for auditing. Many employers will also require a bachelor’s degree in accounting, business, finance, or economics. On top of this, professional certification is important for auditors, and you should work towards achieving CPA (Certified Public Accountant) or equivalent status. Several different certifying bodies may have their own exam and requirements that you must complete before you are formally recognized as an auditor.

Work Experience

In order to gain meaningful experience and build your knowledge, most auditors will seek out opportunities in public accounting firms, where you can learn and develop basic auditing skills on the job. This is also a great way to gain insight and understanding of the accounting practices of businesses of different sizes, giving you experience that you can bring to your next role.

Potential Roles and Duties

Auditors work in a variety of roles, depending on their employer. Public accountants provide services such as reviews, compilations, financial statement audits, and financial management advice. They may also work in internal audit departments for larger organizations or become internal control consultants for small businesses. As an auditor, you will be tasked with ensuring that financial statements, budgets, tax returns, and other business documents are accurate and comply with laws, regulations, and ethical standards.

Effect of AI on Auditing Profession

The introduction of artificial intelligence (AI) technology into financial accounting is an ever-growing phenomenon. AI promises to revolutionize the auditing process, increasing accuracy, freeing up time for auditors, and reducing costs. Automation of repetitive auditing tasks will help to reduce errors and speed up analysis, resulting in a more efficient process. With AI, auditors will be able to reduce their reliance on hard-copy documents and use more real-time analytics for accuracy and compliance.

Conclusion

Auditing is an important role, requiring a comprehensive set of qualifications and skills to succeed. Having the right educational background, work experience, and professional certification will help to set you up for success in this profession. Lastly, understanding the potential of AI to shape the audit profession and staying up to date on the latest advancements will help you to stay ahead of the curve.