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Auditors protect a company’s or government’s assets by ensuring compliance with internal control procedures, and regulations. They are often thought of as mistake-finders because a large part of their work involves checking the work of others for accounting errors. In reality, however, an auditor is responsible for a wide array of duties. Generally speaking, auditors look for fraudulent activity to ensure a company is not being mismanaged. This is accomplished through a number of activities, including examining records, reports, operating practices, and documentation; verifying assets and liabilities; completing audit questionnaires to appraise the adequacy of internal control systems; and maintaining internal control systems by updating audit programs and questionnaires. Auditors communicate their findings in a final report, then discuss those findings and advise management on necessary actions, new policies or procedures.
Auditors are required to comply with federal, state, and local security legal requirements by studying existing and new security legislation. They are expected to maintain their professional and technical knowledge by attending educational workshops, reviewing professional publications, establishing personal networks, and participating in professional societies.
According to Indeed. com, the average salary for an auditor in Boston is $77,000. That’s 15 percent higher than the national average. Similar jobs in Boston include external auditors, averaging $72,000; compliance auditors who earn $79,000; senior financial auditors who average $92,000; and IT auditors in technology management, who top the ledger with an average salary of $94,000. According to the U.S. Bureau of Labor Statistics, the five top-paying states for auditors are New York, Washington, D.C., New Jersey, Maryland and Massachusetts.
Most auditor jobs require a four-year degree, such as a Bachelor of Business Administration in Accounting or Business. Many colleges offer programs in specific areas, such as internal auditing. Increasingly, employers are looking for additional education, such as a Master of Business Administration in Accounting. Through the Institute of Internal Auditors, you can earn additional credentials such as Certified Internal Auditor (CIA), Certification in Control Self-Assessment (CCSA), Certified Government Auditing Professional (CGAP), or Certified Financial Services Auditor (CFSA). In addition, the Information Systems Audit and Control Association offers the Certified Information Systems Auditor credential.
Job opportunities abound for auditors. According to the BLS, employment of auditors is expected to grow by 22 percent between 2008 and 2018. The agency credits business increases and the subsequent need for more management advice for spurring this growth.
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