Guide Essential Audit Skills - Learn How to Successfully Prepare and Perform Audits

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Employers often provide financial help with exams and allow time for study leave. Internal auditors do not have to qualify as accountants, though it could be helpful.

Ten Essential Audit Questions

Graduates can have a degree in any discipline but subjects such as accountancy, economics and IT are particularly beneficial. School leavers can enter the profession by starting as a trainee auditor and completing on-the-job training in order to progress. For more information about school leavers routes into audit, see the finance sector of TARGETcareers , our website aimed at school leavers.

A to Z of careers.

Sign in to save to your dashboard. Auditors perform internal financial and risk management audits and independent statutory external financial audits of commercial and public sector organisations. Auditors assess local and central government departments with the aim of improving efficiency and effectiveness. Typical employers Qualifications and training Key skills Auditors are specialists who review the accounts of companies and organisations to ensure the validity and legality of their financial records.

Typical employers of auditors Auditors can be either internal or external. Qualifications and training required There are routes into a career in audit for both university graduates and school leavers, though routes differ depending on whether you are aiming for internal or external audit.

Key skills for auditors Self-motivation, determination and confidence Ability to divide your time between work and study Meticulous attention to detail A strong aptitude for maths Excellent problem-solving skills A keen interest in the financial system Ability to work to deadlines, under pressure Ability to work on your own initiative and as part of a team Strong IT skills Excellent interpersonal and communication skills, including good presentation and report writing skills Next: Audit Graduate Trainee Grant Thornton.

Finance Analyst Arcadia Group Ltd. Student Chartered Accountant Dixon Wilson. Salary increases as each exam milestone is passed. Savvy organizations look for ways to solicit improvement ideas from their employees and provide feedback on the viability of the ideas.

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Another source of preventive action is feedback from customers. Often, customers will provide ideas for improving the product in subtle yet significant ways. The question is significant because most organizations manage fairly well to capture perceptions but usually fall short of actually doing something with the information.

This is another reason for relying on simple methods for capturing customer perceptions. Many organizations run out of gas before they get to the action phase, and the valuable opportunities afforded by customer feedback are ignored as other problems arise. This question is especially relevant to salespeople, customer service representatives, technical personnel, and top management. The auditor is looking for proof of a systematic approach to dealing with complaints.

This will typically include defined responsibilities for logging and tracking complaints, clear problem statements with all relevant facts included, determination of problem causes, and actions that address the causes.

Auditor: job description

Specific examples of complaints must be sampled, of course. The link between the complaint process and corrective action also requires special scrutiny. Is your organization becoming more efficient, more competitive, better at serving customers? Or is it moving in the opposite direction? Top management should regularly analyze data and trends that provide the answers to these questions. The more timely and action-oriented the review, the better. Some of the best approaches to reviewing organizational performance are the most creative.

Many organizations design their reviews across a number of different forums and time frames, which is a practical and realistic way to approach the process. Regardless of how the review is configured, the three imperatives include data analysis, identifying opportunities, and taking action on them. Smart organizations treat these three activities as inseparable.

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This question can be asked of everybody in the organization. In organizations that have developed improvement tools and provided opportunities for their application, this is an easy question. In organizations where improvement efforts are very narrowly applied, it becomes a much harder question. There should certainly be some evidence of continual improvement within the scope of the audit. Strategic improvements are impressive, of course, but all improvements have value.

This question actually summarizes many of the earlier questions into a single point of inquiry.

Auditor: job description | TARGETjobs

The ultimate purpose of a management system is to provide a means for improvement. It could indicate weak improvement efforts, though, and further investigation would certainly be warranted. In very mature organizations, all personnel are involved in making improvements, and proof of this happening is abundant. Developing human resources is one of the keys to organizational success. This audit question attempts to probe the degree of planning that goes into developing these resources. Is training performed as a knee-jerk activity without any underlying objectives? Or is it geared toward empowering each employee with the skills and knowledge needed to propel the organization forward?

During the audit, make sure to probe the training needs that have been determined for all levels of personnel: Training is an activity that applies to all personnel, not just a narrow slice of the organization.

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This is an exploratory question aimed at assessing the degree of planning that went into developing the management system. The answer can be compared to the formal controls in place e. The auditor must have the experience and maturity to know when an issue is worth exploring in detail. Explore the important elements of a job, compare what you learn against the controls in place and cross-check the facts with other personnel doing similar jobs.

It can produce powerful insights. The 10 questions presented here represent only a slice of what might matter to a typical organization. You will want to refine this list based on special concerns and risks faced by your company. Figure out what matters most to your organization and focus your audit process on those things. Cochran is the author of The Seven Lessons: His most recent book is ISO Copyright on content held by Quality Digest or by individual authors.