Roles and duties of auditors

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Roles and duties of auditors
Auditors must analyse financial documents and ensure the effectiveness within a company. (accounts image by Alexey Klementiev from Fotolia.com)

Auditors are responsible for gathering and analysing various types of financial information and documents for the government, corporations and organisations. To become an auditor, you must complete at least a bachelor's degree in accounting. For salary and promotion purposes, many prospective auditors choose to complete a master's degree in accounting as well. After graduation, the Institute of Internal Auditors offers certification examinations to applicants. According to the Bureau of Labor Statistics, the median salary for auditors in 2008 was £38,629.

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Analyse Documents

Auditors analyse and monitor various types of financial documents to ensure that employees are compliant with government and corporate regulations. These documents may include various types of financial information about assets, liabilities, surplus, income, expenses and stock. Using these documents, auditors create files and charts for all the financial data to make the information accessible. Auditors also ensure that all government laws are being met and taxes are paid on time.

Verify Effectiveness

Auditors verify the efficiency and effectiveness of a company or organisation by looking for any fraud or mismanagement. A lot of time may be spent interviewing managers and employees. During these interviews, auditors determine whether financial records match up with their statements. These interviews help determine the productivity and financial stability of a company or organisation. Having strong interpersonal skills can improve an auditor's ability to communicate with these individuals and get honest answers to questions.

Report Findings

After analysing documents and interviewing employees, auditors create detailed reports and discuss their findings with management and executives. Any red flags or issues in these reports need to be addressed by the proper agencies. Based on this information, an auditor makes recommendations to management on how to reduce waste and improve the company's balance sheet. These findings generally allow a company to improve their financial operations and activities.

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