Also called: Audit Manager, Auditor, Internal Audit Director, Internal Auditor
Produced by CareerOneStop
Video transcript: skip transcript
What's the difference between an accountant and an auditor? Basically, accountants keep track of an organization’s money, and auditors check their work. But there's much more to the work than simply balancing the books. These financial professionals make sure the organization’s finances operate properly. They are involved in analyzing financial information and records, and preparing reports related to budgeting, cost control, employee compensation, new product development, and of course... calculating taxes. If money's involved, accountants and auditors are too. In fact, so many areas need accounting and auditing services that many professionals opt to specialize. Some become tax specialists. Others become employee benefits experts, while still others concentrate on preparing the income statements and balance sheets every publicly-held corporation must file. Auditors and accountants work in a wide range of industries – from accounting companies to hospitals, insurance firms to manufacturing. To take full advantage of the many opportunities for accountants and auditors, you need to have at least a bachelor's degree in accounting. To become a "Certified Public Accountant" or "CPA," in many states you will need 150 hours of college coursework to qualify to take the state licensing exam. And, as long as there is money to spend, accountants and auditors will be needed to make sure it’s accurately recorded.
What they do:Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
On the job, you would:
- Prepare detailed reports on audit findings.
- Report to management about asset utilization and audit results, and recommend changes in operations and financial activities.
- Collect and analyze data to detect deficient controls, duplicated effort, extravagance, fraud, or non-compliance with laws, regulations, and management policies.
- accounting and economics
Arts and Humanities
- English language
Math and Science
- arithmetic, algebra, geometry, calculus, or statistics
Safety and Government
- law and government
- listening to others, not interrupting, and asking good questions
- reading work related information
- noticing a problem and figuring out the best way to solve it
People and Technology Systems
- thinking about the pros and cons of different options and picking the best one
- figuring out how a system should work and how changes in the future will affect it
- add, subtract, multiply, or divide
- choose the right type of math to solve a problem
- communicate by speaking
- communicate by writing
Ideas and Logic
- notice when problems happen
- use rules to solve problems
- remember words, numbers, pictures, or steps
People interested in this work like activities that include data, detail, and regular routines.
They do well at jobs that need:
- Attention to Detail
- Analytical Thinking
- Stress Tolerance
You might use software like this on the job:
Financial analysis software
- Intrax ProcedureNet
- Paisley Cardmap