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What is an Auditor?

Occupation Description Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.

List of Auditor Job Duties

  • Evaluate taxpayer finances to determine tax liability, using knowledge of interest and discount rates, annuities, valuation of stocks and bonds, and amortization valuation of depletable assets.
  • Review data about material assets, net worth, liabilities, capital stock, surplus, income, and expenditures.
  • Examine whether the organization’s objectives are reflected in its management activities, and whether employees understand the objectives.
  • Conduct pre-implementation audits to determine if systems and programs under development will work as planned.
  • Inspect account books and accounting systems for efficiency, effectiveness, and use of accepted accounting procedures to record transactions.
  • Report to management about asset utilization and audit results, and recommend changes in operations and financial activities.

Auditor Needed Skills

Auditors state the following job skills are important in their day-to-day work.

Reading Comprehension: Understanding written sentences and paragraphs in work related documents.

Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Writing: Communicating effectively in writing as appropriate for the needs of the audience.

Speaking: Talking to others to convey information effectively.

Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Complex Problem Solving: Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.

  • Assurance Senior
  • Insurance Auditor
  • Auditor-in-Charge
  • Traveling Auditor
  • Financial Systems Analyst

Is There Going to be Demand for Auditors?

In 2016, there was an estimated number of 1,397,700 jobs in the United States for Auditor. New jobs are being produced at a rate of 10% which is above the national average. The Bureau of Labor Statistics predicts 139,900 new jobs for Auditor by 2026. The BLS estimates 141,800 yearly job openings in this field.

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The states with the most job growth for Auditor are Utah, Colorado, and Tennessee. Watch out if you plan on working in Maine, Alaska, or Ohio. These states have the worst job growth for this type of profession.

Average Auditors Salary

The average yearly salary of an Auditor ranges between $43,650 and $122,840.

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Auditors who work in District of Columbia, New York, or New Jersey, make the highest salaries.

How much do Auditors make in each U.S. state?

State Annual Mean Salary
Alabama $70,310
Alaska $82,920
Arizona $69,190
Arkansas $67,700
California $84,430
Colorado $82,320
Connecticut $84,890
Delaware $78,120
District of Columbia $98,130
Florida $71,790
Georgia $75,930
Hawaii $65,580
Idaho $66,110
Illinois $81,060
Indiana $70,780
Iowa $67,030
Kansas $66,530
Kentucky $67,080
Louisiana $66,860
Maine $70,810
Maryland $82,610
Massachusetts $81,460
Michigan $74,370
Minnesota $72,480
Mississippi $62,850
Missouri $70,240
Montana $66,410
Nebraska $67,920
Nevada $66,600
New Hampshire $72,690
New Jersey $90,400
New Mexico $66,370
New York $96,300
North Carolina $76,880
North Dakota $61,870
Ohio $72,370
Oklahoma $73,040
Oregon $71,450
Pennsylvania $75,250
Rhode Island $81,090
South Carolina $64,750
South Dakota $65,800
Tennessee $69,690
Texas $80,200
Utah $70,980
Vermont $75,360
Virginia $85,640
Washington $78,970
West Virginia $68,160
Wisconsin $68,410
Wyoming $66,180

Tools & Technologies Used by Auditors

Below is a list of the types of tools and technologies that Auditors may use on a daily basis:

  • Microsoft Excel
  • Microsoft Word
  • Microsoft Office
  • Microsoft PowerPoint
  • Microsoft Access
  • Data entry software
  • SAP
  • Microsoft Project
  • Spreadsheet software
  • Microsoft Visio
  • Structured query language SQL
  • Microsoft Dynamics
  • SAS
  • IBM Notes
  • Microsoft Visual Basic
  • Google Docs
  • UNIX
  • Microsoft SQL Server
  • Intuit QuickBooks
  • Oracle PeopleSoft

How do I Become an Auditor?

Education needed to be an Auditor:

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How Long Does it Take to Become an Auditor?

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Where Auditors Work

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Auditors work in the following industries:

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Similar Careers

Those who work as an Auditor sometimes switch careers to one of these choices:

References:

Image Credit: Pixabay via CC0 License

More about our data sources and methodologies.

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