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Auditors Profile

 
Introduction

This Section of the site details information that you might find useful if you are looking to secure employment or require further details regarding working as an Auditors. This page details the following Information:-

  • Finding Suitable Work as an Auditors
  • Working Duties Expected
  • Hours and Environment
  • Working Skills Required
  • Training Requirements
  • Salary Expectations
  • Trade Information
  • Other useful Auditors Work Information


Finding Suitable Work

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Working Duties Expected

External auditors are qualified accountants who carry out a 'statutory audit' of companies, charities or other bodies. By doing a series of tests they check that the financial accounts are reasonable and accurate and show a 'true and fair view' of the profit or loss for the year. They also show the financial position at the year end.

Central and local government departments are also audited to check on how public money is being spent and to see if any savings can be made. External auditors are independent and do not work for the companies or organisations they audit. Before beginning the audit they need to find out all about the company, arrange dates and decide who is to do the work. Typical tasks of an auditor would include examining paperwork such as balance sheets and profit and loss accounts to check that they are correct, and talking to clients about transactions stated in the accounts.

Hours and Environment

Auditors normally work 35-40 hours per week. However, in order to meet deadlines they sometimes have to work longer hours including evenings and weekends. Some travelling is involved in this job and auditors may have to spend nights away from home. It may be possible to work part-time.

The work is carried out on the auditors premises, in the clients office on a laptop or by using the companys own computers. To make a check on stock or equipment auditors might have to visit other workplaces such as warehouses, factories and building sites.

Skills and Interests

To be an auditor you should:

  • be able to interpret figures and statistics
  • be competent in the use of IT
  • be a good communicator to convey information in writing and verbally
  • be able to manage a busy workload, often under pressure and maintaining attention to detail
  • be comfortable working as part of a team and supervising others
  • have a thorough understanding of the running of businesses
  • be discreet and honest as some information may be sensitive.


Entry

To carry out a statutory audit of a company, you would need to be a qualified accountant and a member of ACCA (Association of Chartered Certified Accountants), ICAEW (Institute of Chartered Accountants in England & Wales), ICAS (Institute of Chartered Accountants of Scotland) or ICAI (Institute of Chartered Accountants in Ireland). Public sector audits can also be conducted by members of CIPFA (Chartered Institute of Public Finance and Accountancy).

Internal audits may be done by members of any of these professional bodies, by CIMA (Chartered Institute of Management Accounting) members, or by part qualified accounting trainees.

The minimum entry requirements for those under 21 are two A levels/four H grades, plus three GCSEs (A-C)/S grades at (1-3) including English and maths at either level, or equivalent qualifications. It also possible to enter this profession from work as an accounting technician.

Certain degrees give exemptions from some of the professional examinations. You should consult the accountancy bodies individually, to check their current policy on exemptions.

Another entry route for CIMA, ICAEW, ICAS and CIPFA is to train first as an accounting technician with AAT (Association of Accounting Technicians). AAT offers a vocational education and training scheme based on NVQ/SVQ levels 2, 3 and 4. Completion of this scheme along with the appropriate practical experience allows students to apply for AAT membership as an accounting technician. ACCA offers a similar training route leading to the Certified Accounting Technician (CAT) qualification.

For details of qualification equivalents see:

Qualifications and Curriculum Authority (England, Wales and Northern Ireland)
Scottish Qualifications Authority

Training

To train as an accountant, you need to register as a student with one of the professional accountancy bodies and pass a series of professional examinations. Candidates should be employed in an accountancy, financial management or audit post to gain experience of all areas of work. Study is possible on a part-time, full-time or day release basis, and normally takes three to five years depending on the qualifications and experience you have when you begin.

Foundation and Advanced Modern Apprenticeships (MAPPs) may be available for people aged 16-24.
For details see: MAPPs (England); Skillseekers MAPPs (Scotland); National Traineeships MAPPs (Wales); and MAPPs (Northern Ireland).

Opportunities

As an external auditor you would work for a firm of chartered or certified accountants, for the National Audit Office (which audits central government departments) or the Audit Commission (the Accounts Commission in Scotland) which audits local authorities, the NHS and other public bodies.

Internal auditors work for commercial companies or public sector organisations, or may be self-employed. There are opportunities to specialise in areas such as taxation or insolvency or to work overseas with large international accountancy firms and with private companies.

Annual Income

Figures are intended as a guideline only.
Starting salaries for trainees working in private practices vary depending on the size of the firm and the age and qualifications of the trainee. Salaries are likely to be higher in London than in the rest of the country.

A graduate commencing training would earn between £16,000 and £23,000 a year.
A recently qualified accountant would earn between £26,000 and £35,000.

Further information

Institute of Chartered Accountants in England and Wales (ICAEW)
Web site: www.icaew.co.uk

Institute of Chartered Accountants of Scotland (ICAS)
21 Haymarket Yards
Edinburgh
EH12 5BH
Tel: 0131 347 0100
www.icas.org.uk

Institute of Chartered Accountants in Ireland (ICAI)
Chartered Accountants House
11 Donegall Square South
Belfast
BT1 5JE
Tel: 028 9032 1600
www.icai.ie

Association of Chartered Certified Accountants (ACCA)
64 Finnieston Square
Glasgow
G3 8DT
Tel: 0141 582 2000
www.acca.org.uk

Chartered Institute of Management Accountants (CIMA)
26 Chapter Street
London
SW1P 4NP
Tel: 020 7663 5441
www.cimaglobal.com

Chartered Institute of Public Finance and Accountancy (CIPFA)
3 Robert Street
London
WC2N 6RL
Tel: 020 7543 5600
www.cipfa.org.uk

The accountancy profession carries a wide and varied selection of different job roles. Here are some examples of related job positions in the accountancy sector:

• Analyst
• Auditor
• Company Secretary
• Cost Accountant
• Director
• Finance Manager
• Financial Controller
• Forensic Accountant
• Interim Manager
• Life Accountant
• Management Accountant
• Practice Manager
• Practice Partner
• Project Accountant
• Syndicate Accountant
• Systems Accountant
• Tax Accountant
• Trust Accountant
• Accounts Admin
• Assistant Accountant
• Credit Controller
• Graduate Trainee
• Ledger Clerk
• Legal Cashier
• Part Qualified
• Accounts Payroller
• Practice Accountant.


Other Useful Auditors Work Information

We have a section available at this site on Auditors job interview tips that you may find of interest should you wish to brush up your skills in this area and we also have number of career articles that may also be of use to you from within our guides and documents section.

Locations where we feature Jobs include:-
Aberdeen, Berkshire, Aberdeen, Bath, Bedfordshire, Berkshire, Birmingham, Bradford, Bristol, Cambridgeshire, Cardiff, Central London, Cheltenham, Cornwall, Coventry, Derby, Devon, Docklands, Dorset, Dundee, Durham, East Midlands, East Sussex, Edinburgh, Essex, Glasgow, Gloucester, Hampshire, Hertfordshire, Kent, Lancashire, Leeds, Leicester, Leicestershire, Lincolnshire, Liverpool, London, Manchester, Middlesbrough, Midlands and in various parts of the West Midlands

Details of other Auditors Jobs can also be found in other UK wide areas including:-
Milton Keynes, Newcastle, Newcastle Upon Tyne, Norfolk, North London, North Midlands, Northampton, Northamptonshire, Northern Ireland, Northumberland, Norwich, Nottingham, Nottinghamshire, Oxford, Oxfordshire, Plymouth, Salisbury, Scotland, Sheffield, Shropshire, Somerset, South East, South London, South Midlands, Southampton, Staffordshire Surrey, Swansea, Swindon, Telford, Wales, Warwickshire, West End, West London, West Midlands, Worcestershire, York and throughout Yorkshire.

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