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Auditor
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Overview

An auditor is responsible for assuring financial correctness and integrity inside businesses. But, what precisely is an auditor? An auditor is a specialist who reviews and verifies financial documents to guarantee their accuracy and adherence to rules. The function entails reviewing financial accounts, discovering inconsistencies, and making recommendations for changes. An auditor's tasks include performing audits, generating reports, and assuring conformity with accounting standards and legal obligations. This function is critical to retaining the trust of stakeholders and regulatory agencies. The responsibilities of an auditor vary depending on the sector and company, but they often include checking financial accounts, evaluating internal controls, and assessing risk. Auditors' wages can vary greatly depending on characteristics such as expertise, location, and size of the employing firm. For individuals interested in a career in auditing, taking an auditor course might be a crucial step. These courses address subjects such as accounting concepts, auditing standards, and financial regulations, providing students with the information and skills they need to succeed in their careers. So, is auditing a worthwhile career? Many people find it to be a satisfying job with several prospects for advancement, particularly for those with a sharp eye for detail and a strong desire for financial correctness. Auditing, with its strong compensation possibilities and critical role in corporate integrity, may be a rewarding and lucrative professional path.
Famous Personalities

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T. N. Manoharan (Padma Shri Awardee Former President of ICAI)

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Kumar Mangalam Birla (Chairman, Aditya Birla Group)

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Motilal Oswal (Chairman, Motilal Oswal Financial Services)

Skills

Technical Skills
Financial Accounting
Cost Accounting
Tax Accounting
Internal Auditing
External Auditing
Forensic Auditing
IFRS
GAAP
SOX
Accounting Software (Tally/ QuickBooks)
Microsoft Office Suite (Excel/Word/PowerPoint)
Analytical Skills
Financial Ratio Analysis
Financial Forecasting
Risk Management
Internal Controls Assessment
Soft Skills
Report Writing
Presentation Skills
Interpersonal Skills
Accuracy
Precision
Roles and Responsibilities

Financial Analysis

Review financial statements and records for accuracy and compliance.

Compliance Checks

Ensure adherence to financial laws and regulations.

Internal Controls

Assess the effectiveness of internal controls and risk management systems.

Reporting

Prepare audit reports and present findings to management.

Recommendations

Provide recommendations for improving financial management and control.

Collaboration

Work with cross functional teams to understand business processes and controls.

Research

Stay updated with changes in financial regulations and industry practices.

Training

Provide training and guidance on financial compliance and control to staff.

Expected Earnings

Entry Level
3,00,000 - ₹6,00,000 /year

Mid Level
6,00,000 - ₹12,00,000 /year

Senior Level
12,00,000 - ₹20,00,000 /year

Top Executive
20,00,000 +/year

Work Context

Environment: Office setting, with occasional visits to client sites for audit purposes.

Hours: Standard office hours, with potential overtime during busy periods (e.g., end of financial year).

Interaction: Regular interaction with finance teams, management, and clients.

Travel: Occasional travel for client meetings and site audits.

Remote Work: Limited remote work opportunities, as audits often require on-site presence.

Job Opportunities: High demand in accounting firms, corporate finance departments, and government agencies.

Learning Curve: Continuous learning to keep up with changes in financial regulations and auditing standards.

Strengths

High demand for skills


Opportunities for career advancement


Involvement in strategic decision making


Potential for high earnings

Possible Constraints

High pressure


Need for continuous learning


Potential for long hours during busy periods


High level of responsibility and accountability

Ideal Progression Path

Junior Auditor

Auditor

Senior Auditor

Audit Manager

Director of Audit

Chief Audit Executive (CAE)

Education Path

Path 1
1.
12th

12th

Commerce

2.
UG

UG

B.Com in Accounting

3.
PG

PG

M.Com in Accounting

Path 2
1.
12th

12th

Commerce

2.
UG

UG

BBA in Accounting

3.
PG

PG

MBA in Finance

Path 3
1.
12th

12th

Commerce

2.
UG

UG

Bachelor's in Accounting

Top Exams

Common Proficiency Test (CPT)
Integrated Professional Competence Course (IPCC)
Chartered Accountant Final Examination
Top Colleges

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Shri Ram College of Commerce (SRCC) Delhi,
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Loyola College, Chennai
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Christ University, Bangalore
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St. Xavier's College, Mumbai
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Lady Shri Ram College for Women (LSR), Delhi
Top Companies

Deloitte
PricewaterhouseCoopers (PwC)
Ernst & Young (EY)
KPMG
BDO India LLP
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