Staff auditors are financial professionals who work internally within their own company; they ensure whether the company is meeting financial standards and keeping proper financial records. If you want to become a staff auditor, you should know they are critical to a company’s financial health through risk analysis, predicting possible economic consequences, and helping them make the best choice.
Keep reading to find practical tips to build a unique resume.
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Job Duties of a Staff Auditor
Staff auditors are responsible for performing cost analysis; by doing this, they make sure the company uses financial resources carefully and obeys proper business and financial laws and protocols.
Let’s see what the primary duties of a staff editor are:
Handling auditing of the clients’ financial statements.
Acquiring detailed knowledge about the firm’s financial engagements.
Taking on the responsibility of performing various auditing procedures under a senior’s supervision by applying the current auditing principles and accounting procedures.
Constantly interacting with clients and internal employees to increase team efficiency.
Ensuring financial staff audits comply with company rules and regulations.
Preparing transparent and clear work papers that follow standards and have well-defined conclusions.
Making maximum use of the various information technology tools to complete the assigned work.
Conducting detailed research on audit issues and analyzing the results of audit work.
Detecting and preventing fraud.
Staff Auditor Median Salaries
A staff auditor earns an average salary of $54,675 annually, according to data provided by an American compensation software and data company known as PayScale. Factors like the company’s size, your seniority level, and the industry you work in could affect your salary. However, with the economy continuing to grow, staff auditors are always in demand.
Top Skills for Staff Auditors
It is the staff auditor's responsibility to catch any financial mismanagement. They may work on a team with other finance-related employees, like budget analysts and accountants, depending on their specific position; some may manage employees.
Below are the top six skills required by a staff auditor:
- Healthy skepticism: Staff auditors are required to handle their work with a healthy amount of skepticism to question every single detail and make sure it is correct and accurate. The best staff auditors trust nothing when reviewing financial documents. They conduct each review with a discerning eye and a high degree of vigilance — regardless of the specific circumstances. Healthy skepticism is not just a skill but a way of working, which every staff auditor expects, according to the International Federation of Accountants.
- Understanding of Generally Accepted Accounting Principles (GAAP): A staff auditor without understanding GAAP, which is a collection of commonly followed accounting rules and standards for financial reporting, will fail to do even the most trivial work in auditing. These are the set of standards set by the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB) that work to improve the transparency of financial statements. You will have to keep up with changes and updates to some standards periodically. Training programs like online certifications will ensure you acquire a good understanding of the GAAP.
- Ability to think rationally: Critical thinking skills are crucial for an auditor career path. In this type of reasoning, a staff auditor steps outside their own biases and judgments to consider all perspectives, question the validity of each, and reach a conclusion. The auditors learn this on the job through dedicated feedback and coaching from their senior auditors. They tend to develop this skill through work experience.
- General ledger accounting expertise: To record and analyze assets, liabilities, equity, expenses, income, and revenue of a company, staff auditors should know how to handle the general ledger. The general ledger of a company is the basis of its financial reporting; any error while preparing the ledger will directly affect the preparation of financial statements. Therefore, a staff auditor should possess the general ledger accounting expertise to do well in their job.
- Accountability: A good staff auditor is not just good with numbers; they also know what role they play and why they matter to the business. Their investigations secure the company’s financial future. In short, auditing professionals with the most vital career paths are not just excellent in their jobs; they also understand and connect the dots to articulate true business impact — which is the information that matters most to stakeholders.
- Executive presence: Executive presence means fostering a positive professional reputation and demonstrating reliability. You must inform, educate, and influence stakeholders and earn their trust. To do this, you should be filled with confidence and credibility.
- Accounting software The modern finance industry revolves around software to make tasks easier and maintain accuracy. When reviewing resumes, employers look for expertise handling software such as Quickbooks, Sage and Zoho. Different functions of these financial tech programs include generating reports, recording transactions and managing expenses. Knowledge of accounting software increases your chances of getting hired.
Staff auditors education and certifications
DegreeTo qualify for a staff auditor position, you will need to have at least an undergraduate degree. A bachelor’s degree in accounting is usually considered the minimum educational requirement for this job. You can also do a bachelor's degree in related fields, such as business administration or finance from universities like the University of Pennsylvania (Wharton), Columbia University, and the New York University.
Even though not essential, earning a master’s degree in accounting can increase your job search prospects and earning potential. You can complete an internal auditing department or accounting firm internship during or after your graduation to gain some real-world experience.
CertificationsA CPA license is not required to practice as a staff auditor, but earning this credential will surely help accelerate your career. According to the BLS, you would have to pass an exam and check other specific requirements from the state you live in to acquire the CPA credential.
Professionals who wish to show advanced competencies and a serious commitment to the field can go for auditing-specific professional certifications such as the Certified Internal Auditor (CIA) credential from the IIA and the Certified Information System Auditor (CISA) designation from the Information Systems Audit and Control Association (ISACA).
Staff Auditors Resume-Writing Tips
Let us help you craft a resume that will grab the attention of the recruiter right away. Follow these three tips to build a compelling resume for the position of staff auditor:
- Emphasize your hard skills. Your resume should tell the recruiter how well you know the industry. You can do this by adding simple keywords like “General ledger accounting expertise,” “GAAP principles,” and "Internal Audit," in your skills section. Phrases like "planned, conducted, and documented internal audits for over 32 companies in a year" can prove that you are fit for the position.
- Add relevant auditing details. The contents of your resume should match the job position you are applying for. There are different positions in the accounting industry like accountants, project accountants, internal and external auditors, and each has specific job requirements. So you should make sure that whatever you add to your resume should be tailored to the position. For example, something like "determined financial and operational audit areas, providing economical and efficient use of resources," is appropriate for a staff auditor resume.
- Make your experience count. In the accounting industry, work experience is given high priority. The longer you stay in the field, the better you get. If you have the chance to show off your experience, don't hesitate and mention achievements using quantifiable metrics and percentages.
How does an entry-level staff auditor help the company?
As an entry-level auditor, you are required to help audit accounting and financial information for a company. You may have to review accounts and assets for a firm, help them prepare a statement or report, answer queries of the clients or customers, and coordinate with a bank to provide any necessary documentation.
Which is a better career; an accountant or a staff auditor?
The good news is, for accounting degree-holders, both paths are worthwhile career tracks that may lead to great opportunities. Taking a closer look at the necessary skills, competencies, knowledge, and focus to enter and excel in one of these professions may give accounting aspirants a clear picture of the path they should follow.
Why should I choose a career in auditing?
There are many reasons why you could choose an auditing career but for many, the main reason is that it is a high-paying job. You also have opportunities to continue your education and development while getting paid. And let's not forget it's a job that is in high demand — as long as there are businesses, there will be auditors looking to improve their finances.