Financial auditing comprises of checking of the economic statements and the statement of cash flow and balance sheet of a particular company.
Description of the job
The description of the audit job which is usually assigned to the people employed in this business is as follows:
• To analyze and examine the accounting records of the company with the aim of determining the financial condition of the company.
• To arrange the pecuniary reports relevant to the legal responsibilities, capital stock, net worth and expenses of the firm.
• To authenticate various ledger entries and journals and also validate the expenses and purchases.
• To analyze and prepare statements for the firm in relation to the range of audit and the economic conditions initiated.
• To coordinate as well as supervise different activities of the junior auditors.
• To examine a company's payroll plus the personnel account with a view to find out the compensation reporting of the workers of the company.
To get an audit job in a reputed firm, a person needs to fulfill some basic educational requirements.
Bachelors in finance
A bachelor's degree in finance is the most essential requirement of an accounting firm.
Masters in finance
A master's degree in finance from a renowned university or college is advantageous.
A degree of CPA or a certified public accountant is not obligatory but having it turns out to be an extra benefit.
Knowledge of accounting, book keeping, auditing, taxation, finance and scrutiny can be of great assistance to get an audit job.
Certification and training
The audit professionals are being offered many short term certification as well as training programs by various institutions. Practical and theoretical training is extremely important for an audit job. Thus, having enrolled in these courses can prove to be very helpful.
The salary of the professional of an audit job is quite good, although variable from organization to organization. Generally, the audit jobs made a person earn an average salary equal to $50,770 in the year 2004. According to the statistics of the US bureau of labor, an internal auditor of mid level earned an annual median salary of $54,445 in the year 2006. The general benefits are life and health insurance, paid vacations and holidays, as well as pension plans.
The world of finance is an ever green field and catches the attention of many professionals each year. Whatever the organization, it requires auditing or accounting professionals to take care of the accounting work. If a person is looking for an audit job, then it is very easy to hit upon it in a company to handle their accounts and finance related actions.