What the work is
An auditor checks whether a company’s financial statements are reliable and whether the accounting and control rules are followed. An external auditor works for an audit firm and gives an independent opinion for owners, banks and investors. An internal auditor works inside the company and looks for weak spots in processes before they lead to losses or breaches.
A typical day
Planning the audit: which items are material and where the risk of error is higher. Testing a sample of documents and matching them to confirmations from banks and counterparties. Interviewing the accounts team about the month-end close. Discussing findings with the engagement lead. Writing up the working papers.
How to start
- Get a firm grasp of accounting, the national standards and IFRS.
- Study the auditing standards and the ideas of materiality, risk and sampling.
- Start as an assistant at an audit firm — the classic route into the profession.
- In time, prepare for a professional qualification.
Related professions
Accountant, financial analyst, compliance specialist, economist.