Q:

What does an auditor do?

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Quick Answer

Auditors review, analyze and evaluate processes, services, products, systems and organizations. They are also tasked with examining a company's financial reports to ensure their accuracy and validity for tax and business purposes.

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What does an auditor do?
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Full Answer

Auditors may also inspect an organization's internal controls and the extent to which they manage the company's risk exposures. This process also helps to prevent the theft of the company's assets and data manipulation by its employees.

Company audits are expensive and time consuming. Because of this, auditors use statistical sampling to make key determinations as to which areas management should focus on.

Auditors should posses high ethical standards as well as good communication and interpersonal skills. The career also requires professional skepticism, which describes being able to determine if a company's financial records are not truthful.

Auditors typically need a bachelor's or a master's degree in business or accounting. Many auditors are Certified Public Accountants. Some accountants specialize in one field or another, such as assurance services, risk management or healthcare auditing.

The 2012 Bureau of Labor Statistics report lists the average median salary of an auditor at $63,550 per year or $30.55 per hour. Geographic location, experience and education all factor into the annual salary of an auditor.

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