Auditor - Career Advice - Banking, Finance and Insurance

Auditors examine a company's financial records to assess whether they provide an accurate picture of the company's financial performance. They review the accounting systems and procedures of an organisation and identify ways to improve performance and minimise the risk of fraud. They work Future Growth Strong within a strict set of financial and ethical guidelines governing their behaviour and responsibilities, and report any serious issues to the appropriate authorities.

ANZSCO ID & Description: Internal Auditor 221214; External Auditor 221213: Auditors examine a company's financial records to assess whether they provide an accurate picture of the company's financial performance.

Alternative names: Audit Officer, Company Auditor

Knowledge, skills and attributes

An auditor needs:

a strong ethical framework
to be able to work independently and/or as part of a team
honesty and integrity
good problem-solving skills
good communication skills
to be inquisitive and enquiring.

Balance sheet
(Source: Permaculture Noosa)

Duties and Tasks

providing overall direction and management for the service, facility, organisation or centre
developing, implementing and monitoring procedures, policies and standards for medical, nursing, allied health and administrative staff
coordinating and administering health and welfare programs and clinical services
monitoring and evaluating resources devoted to health, welfare, recreation, housing, employment, training and other community facilities and centres
controlling administrative operations such as budget planning, report preparation, expenditure on supplies, equipment and services
liaising with other health and welfare providers, boards and funding bodies to discuss areas of health and welfare service cooperation and coordination
advising government bodies about measures to improve health and welfare services and facilities
representing the organisation in negotiations, and at conventions, seminars, public hearings and forums
controlling selection, training and supervision of staff

Working conditions

Auditors work in offices within an organisation and often conduct their services at clients’ offices. They generally work regular hours, although they may work overtime when meeting tight deadlines. There is a high level of people contact in this occupation.

Tools and technologies

Auditors use computers and a range of specialised accounting software. External auditors will also be required to travel between a number of clients and so a drivers licence is a major advantage.

Education and training/entrance requirements

To become an auditor you usually need to complete a degree, majoring in accounting.

To become professionally recognised as an auditor you must register with the Australian Securities and Investments Commission (ASIC). To register with ASIC you must satisfy the competency standards set by ASIC. This usually includes completing auditing competency standards through the Institute of Chartered Accountants Australia (ICCA) or the Certified Practising Accountants Australia (CPA).

Did You Know?

The Australian National Audit Office (ANAO) is the national auditor for the Parliament of Australia and Government of Australia. It reports directly to the Australian Parliament via the Speaker of the House of Representatives and the President of the Senate. Administratively, the ANAO is located in the Prime Minister and Cabinet portfolio.

Commonwealth Auditors-General

•John William Israel (1902–1926)

•Charles John Cerutty (1926–1935)

•Herbert Charles Brown (1935–1938)

•Ralph Abercrombie (1938–1946)

•Albert Charles Joyce (1946–1951)

•James Brophy (1951–1955)

•Harold Clive Newman (1955–1961)

•Victor John William Skermer (1961–1973)

•Duncan Robert Steele Craik (1973–1981)

•Keith Frederick Brigden (1981–1985)

•John Vincent Monaghan (1985–1987)

•John Casey Taylor (1988–1995)

•Patrick Joseph Barrett (1995–2005)

•Ian McPhee (2005–2015)

•Grant Hehir (2015–Present)
(Source: ANAO)

Auditor General Grant Hehir