Everything you need to know to become an auditor

Clement Manyathela talks to listeners about what people need to know about the demanding but highly sought-after profession.

FILE: Photo: pixabay.

Auditors are one of the most sought-after professionals in the country. Although the demand for them is high, qualified auditors are among the rarest skills in the country. Here’s everything you need to know about this often demanding job.

The primary responsibility of auditors is to assess and review a company’s finances to make sure everything makes financial sense, is credible, and is working well.

As such, they are hired to review and verify the accuracy of that company’s records and financial statements to ensure that no silly business is happening and that their financial actions are legitimate.

Because of this, auditors can work independently and be hired by companies on a freelance basis, which is sometimes preferable as it reduces the element of bias.

There are four types of auditors: internal auditors (auditors who work within a company), external auditors (independent auditors hired on an independent basis), government auditors (auditors responsible for ensuring that financial actions institutions are properly accounted for in accordance with regulatory requirements) and forensic auditors (auditors hired to find evidence of financial wrongdoing by a company or institution).

To be an auditor, having analytical, digital, communication and organizational skills are key skills to navigate and thrive in the competitive industry.

To become an auditor, one must first become a chartered accountant, so pursuing an accounting degree is a key requirement. A bachelor’s degree will likely get you a junior-level position, while a postgraduate degree is essential for higher positions.

As such, here is a list of recommended degrees to study for:

• B.Com (Bachelor of Commerce) in Auditing
• B.Com in taxation
• B.Com specialized in direct and indirect taxation
• B.Com in Accounting and Taxation
• B.Com in tax procedure and practice
• MBA (Master of Business Administration) in Banking and Taxation
• MBA in finance
• M.Com (Master of Commerce) in Accounting and Auditing
• M.Com in Accounting and Taxation
• M.Com in taxation

This article first appeared on 702: Everything you need to know to become an auditor

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