A good head for figures gives profitable career; in association with publicjobswales.co.uk.Byline: By MICHELLE MICHELLE Mid-Infrared Echelle Spectrograph RUSHTON What does a career in auditing involve? Auditors examine accounts to see how well organisations control their finances. They are usually qualified accountants who specialise in audit, and they can be external or internal auditors. As an external auditor, you would produce an independent review of a company's accounts to make sure they are accurate and show a fair view of its financial position. Central and local government and other public sector organisations are also audited to check how public money is being spent and to see if savings can be made. Most organisations need to publish audited accounts by law. Day to day, auditors are busy examining company accounts, collecting and interpreting figures and identifying any problems or risks to the business. They also assess the companies' financial reporting systems and make recommendations for improvements. As an internal auditor, you would examine an organisation's polices, procedures and/or finances, and advise on how it could improve efficiency. You would often be an employee of the organisation, or you might work for a specialist outsourced accountancy firm.. What personal skills do you need? You need to have a real head for figures and business, with strong analytical and problem solving skills. You should also be good at IT with excellent communication skills as well as being organised and able to manage your workload and time effectively. You should be able to work well alone or as part of a team and conduct yourself with honesty and discretion when dealing with sensitive business information. What training do you need? To become an external auditor, you must be a qualified chartered accountant with a professional body, for example the Association of Chartered Certified Accountants The Association of Chartered Certified Accountants (ACCA) is a British chartered accountancy body with a global presence that offers the Chartered Certified Accountant (Designatory letters ACCA or FCCA) qualification worldwide. (ACCA), Institute of Chartered Accountants in England and Wales England and Wales are both constituent countries of the United Kingdom, that together share a single legal system: English law. Legislatively, England and Wales are treated as a single unit (see State (law)) for the conflict of laws. (ICAEW ICAEW Institute of Chartered Accountants in England & Wales ) or Association of International Accountants (AIA). If you are a member of the Chartered Institute of Public Finance and Accountancy (CIPFA), you can conduct audits in the public sector. To start training as an accountant with any of the above organisations, you will normally need at least three GCSEs (A-C) including English and maths, plus two A levels, or equivalent. If you are qualified with the Chartered Institute of Management Accountants The Institute of Management Accountants (IMA) is a professional organization headquartered in Montvale, New Jersey consisting of over 70,000 members worldwide. The IMA is dedicated to advancing the role of the management accountant and financial manager within the business (CIMA), you can carry out internal audits, but you cannot conduct external audits unless you take further audit training with another accountancy body. What are the opportunities for career progression? With experience, you could specialise in taxation, insolvency or forensic accounting, or you could move into management or work freelance. What is the salary? (Rough guideline). Qualified auditors earn between pounds 30,000 and pounds 45,000 rising to pounds 50,000 - pounds 70,000 for senior management. More information Institute of Internal Auditors “IIA” redirects here. For IIA in decision theory, see Independence of irrelevant alternatives. Established in 1941, The Institute of Internal Auditors (IIA) is an international professional association of more than 128,000 members with global headquarters in - UK and Ireland www.iia.org.uk Association of International Accountants (AIA) www.aiaworldwide.com Chartered Institute of Public Finance and Accountancy (CIPFA) www.cipfa.org.uk Institute of Chartered Accountants in England and Wales (ICAEW) www.icaew.co.uk Association of Chartered Certified Accountants (ACCA) www.acca.co.uk |
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