If using professional skepticism to understand how companies function interests you, you might consider one of the different types of auditing jobs available. At its core, auditing involves analyzing, assessing and reviewing the systems, employees, products, services and process that make up the structure of a particular organization. Auditing is critical to the success of a company because it provides unbiased, accurate assessments for shareholders and managers to increase their organization’s efficiency. As is the case with other accounting fields, the Bureau of Labor Statistics anticipates that the field will grow 10 percent from 2016 to 2026, faster than the average for all occupations. The following are several common types of auditing jobs available in various industries.
Forensic auditors are sometimes known as investigative auditors. They have training in accounting that allows them to uncover fraudulent activities and detect evidence that could be used in court. These professionals may investigate pyramid schemes, false tax claims, suspicious overseas bank accounts, embezzlement charges and unlawful insurance claims. Forensic auditors need to have an eye for detail in order to look for unlawful activities in terms of financial information. Some forensic auditors specialize in criminal or civil law. This career track typically requires a master’s degree and a CPA license.
Tax auditors are responsible for reviewing a company’s tax-reporting procedures. These professionals have one goal: to ensure that all employees comply with local, state and federal tax laws as they go about their daily business operations. In order to analyze past filings and anticipate future tax bills, tax auditors will consult with the in-house senior tax manager. Pursuing a career as a tax auditor requires an individual to earn a bachelor’s degree in finance, accounting or taxation, and tax advisors are encouraged to earn the Enrolled Agent (EA) credential provided by the Internal Revenue Service (IRS).
External auditors work outside of the company they are auditing. They are responsible for providing assessments to the company’s shareholders, and they offer their opinions on whether the company’s financial statements are true and accurate. Public accounting firms appoint external auditors for the purpose of performing tests that monitor and evaluate the current financial systems of an organization. Since these professionals have free reign to investigate every aspect of an organization from the inside out, they are required to have 150 hours of experience in order to sit for their CPA license.
Internal auditors are responsible for making sure that companies properly implement risk management programs and that their policies are operating as effectively as possible. Internal auditors ensure that a company’s procedures conform to guidelines established by top management and the human resources department. Candidates who hold a bachelor’s degree in auditing or accounting and who have a Certified Internal Auditor (CIA) credential are preferred. A CPA license is not required to perform compliance, internal control and financial audits for a company.
Related Resource: Top 15 Online Masters in Taxation 2018
In general, the highly diverse field of auditing involves different aspects and ways of examining finances with the goal of determining whether the information gathered is not only accurate but also in compliance with regulations. Now that you understand some of the many types of auditing jobs available, you can start to determine which one is best for your skillset, personality and career goals so that you may seek the appropriate education requirements to attain this career.