Auditor Job Description
The financial health of any organization holds a key role in its success.
While financial professionals take great measures in ensuring that a company’s finances are in order, it is still important to hire independent professionals to make sure that all financial activities conform to the laid out regulations by the company.
This is where auditors’ work comes in. Auditors are independent financial experts who review companies’ accounts to ensure that they are valid and within legal parameters.
Auditors may work in the accounting departments of a company or independent chartered firms.
They examine the money that goes in and out of a company while ensuring that it is documented properly.
Besides, they collate, check and analyze spreadsheet data and are also responsible for examining financial control systems.
In order to understand the role of auditors in more depth, let us have a look at some of the job duties that are particular to this position.
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Auditor Duties and Responsibilities
- Ensure absolute compliance with the company’s established financial control regulations
- Verify assets and liabilities by comparing values to documented information
- Collect and analyze financial data to determine deficiencies, duplicities, and extravagances
- Investigate frauds and noncompliance with laws and management regulations
- Review material assets, net worth, and liabilities
- Create reports regarding capital stocks, surplus and income, and expenditure
- Inspect accounting documents to verify entries and ensure efficiency and use of accepted accounting principles
- Ensure that all accounting procedures have been followed in accordance with accepted record transaction protocols
- Recommend controls to ensure financial system reliability
- Prepare and analyze financial statements and records
- Examine entries to verify records
- Review computer-generated financial data for discrepancies or errors
- Monitor the financial activities of special projects to ensure compliance and efficacy
- Prepare reports concerning the scope of audit for the management’s review
- Establish guidelines to prevent fraud and investigate any fraudulent activities
- Maintain inventory record of company property
- Populate data for analysis and manage spreadsheets
- Provide guidelines for accounting, financial and management issues
- Conduct analysis and evaluations of performance and risk management
- Implement new mandates within the service and develop training methodologies
- Prepare reports aimed at explaining program deficiencies and suggesting possible solutions to overcome them
- Maintain business control documentation
- Provide assistance in completing annual audit plans
- Conduct follow up activities to ensure that any weak areas are being addressed in accordance with suggestions provided
- Identify gaps and processes and analyze revenue data