There are two primary classifications for auditor: internal and external. An internal auditor evaluates their company's financial procedures, information systems and internal controls to ensure that records are accurate. Many internal auditors also get involved in evaluating management procedures and overall company operations with a focus on efficiency and compliance with company policy and any regulatory obligations.
An external auditor reviews a company's financial records to ensure accuracy and compliance with government requirements and business policy. The most well known external auditors are IRS Revenue Agents, who conduct exhaustive reviews of personal or business practices to make sure that tax payments have been accurate.
Individuals applying for an accounting or auditing position should have a bachelors degree in business or accounting. Because technology plays such a vital role in the record keeping for today's businesses, a job applicant for an auditing position that is familiar with the software most commonly used in business accounting would receive favorable consideration.
The U.S. Department of Employment reports that 1.3 million people worked as accountants or auditors in 2006. The government does not break out that figure by employment function; however the educational requirements for both jobs are essentially the same.
The growth of auditing jobs over the next several years is expected to be larger than the overall average growth anticipated for all job categories. Changes in reporting requirements for businesses will spur some of this job development; for auditors, the increasing government participation in the financial sector should lead to many new positions for the purpose of fiscal oversight.
Lowest 10% $17.10 $35,570
Median Salary $27.43 $57,060
Highest 10% $47.22 $98,220