Frankly speaking, the job of an auditor is to anatomize the internal functioning of every facet of a company or an institution. The responsibility of making obvious the things which are not so obvious lies on the shoulders of an auditor.Be it processes, products, services, systems or employees, an auditor is free to tread on them all. Auditing offers highly multifarious career options and involves numerous job responsibilities.
An auditor looks into the financial & business accounts of an organization to check their fairness, accuracy. In practical terms, evaluating financial operations of the business take maximum space of an auditor’s work. His/her responsibilities require looking minutely into registers of accounts.
All of this is done to ensure that balance sheets and profit and loss statements are error free and there is no negligence, either deliberate or accidental.
This way it is a big duty for an auditor. He/she collects all the data in relation to financial processes from different kinds of trustworthy sources in a company. The very purpose of it all is to ensure that all the financial transactions and practices of the organization abide by the established laws and procedures.
Apart from all these financial details, an auditor also looks in detail into internal checks and controls of an organization. Taking a detailed view of all the checks and balances, an auditor tries to reach an understanding of whether they are adequate to handle the organization’s risk exposure and can appropriately safeguard a company’s assets in terms of both tangible and intangible.
Keeping in view all these records, an auditor further prepares an assessment report, which is further put before the management of the said organization. This report acts as the basis of assessment of the organization, by management.
To undertake all these responsibilities an auditor should have undisputed command over accounting, economics, mathematics, computers along with latest processes and practices of financial markets. Though a bachelor’s or a master’s degree with specialization in accounting or finance is good enough to fetch a job, larger corporations always prefer someone with specialist education in auditing.
There is ample of career scope for an auditor. One can always seek a job as an internal auditor in an organization or an external auditor who is free to pursue his/her career goals in any organization or for a company.