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Auditing - What Is It? Why Should I?

Sep 10, 2008
Auditing is an independent, objective assurance and consulting practise designed to add value and improvae a given organisation. Auditing helps organisations accomplish objectives with systematic, disciplined evaluation.

There are two main types of auditor, internal and external. This is the difference between being part of an auditing company which other company's hire or internal, constantly analysing the business from inside and making suggestions based on this analysis.

Here are a few of the criteria that employers look for when trying to fill an audit job position.

Collaborator
Auditors need to be 'people people', getting on well with others within the firm and supporting them in their roles. Often auditing is a team exercise and candidates will need to swiftly fit into an appointed role while being in communication with the rest of the team.

Risk Aware
Good auditors are risk managers. As an external auditor, you will be asked to analyse risk for the audited companies to make appropriate recommendations. As an internal auditor you may be expected to spot new business opportunities or riskier activities on behalf of the firm.

Personal Development
Because of constantly changing regulations and standards within auditing, staying on top of your game and constantly retraining is a must. The more up-to-date and adaptable you are, the more suited towards high profile auditing positions you are. Become competent in new areas and new specialisations and your career in audit will be a successful one.

Personal Integrity
In an auditing position, integrity is paramount. Auditors deal with a huge amount of confidential and sensitive information. You need to display the utmost integrity as you need to be trusted and respected.

Best Practises
Auditors are essentially employed for their opinions. These opinions must stand up to objective scrutiny, and so adhering to the industry's best practises is recommended. Keep following the emerging standards and your career as an auditor will be a successful one.

Verbal and Written Communication Skills
Analysis is only part of an auditor's job, the most important part is relaying the results of the analysis is as clear and easy-to-follow way as possible, for those who are not specialists in accounting and risk management. Like with many jobs, being able to communicate effectively face to face and on paper is a favourable quality.

Analytical Thinking and Intellectual curiosity
As an auditor, you must be capable of following complex financial interactions through various documents and departments. Being able to correctly analyse these interactions requires intellectual curiosity, without this you will not go far in auditing.
About the Author
John McE writes on behalf of Careers in Audit, the world's leading job board for audit professionals.
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