Summary Report for:
13-2011.02 - Auditors
Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
Sample of reported job titles: Assurance Manager, Assurance Senior, Audit Manager, Audit Partner, Auditor, Auditor-in-Charge, Deputy for Audit, Financial Auditor, Internal Audit Director, Internal Auditor
Tasks | Tools & Technology | Knowledge | Skills | Abilities | Work Activities | Detailed Work Activities | Work Context | Job Zone | Education | Credentials | Interests | Work Styles | Work Values | Related Occupations | Wages & Employment | Job Openings | Additional Information
- Collect and analyze data to detect deficient controls, duplicated effort, extravagance, fraud, or non-compliance with laws, regulations, and management policies.
- Prepare detailed reports on audit findings.
- Supervise auditing of establishments, and determine scope of investigation required.
- Report to management about asset utilization and audit results, and recommend changes in operations and financial activities.
- Inspect account books and accounting systems for efficiency, effectiveness, and use of accepted accounting procedures to record transactions.
- Examine records and interview workers to ensure recording of transactions and compliance with laws and regulations.
- Examine and evaluate financial and information systems, recommending controls to ensure system reliability and data integrity.
- Review data about material assets, net worth, liabilities, capital stock, surplus, income, and expenditures.
- Confer with company officials about financial and regulatory matters.
- Examine whether the organization's objectives are reflected in its management activities, and whether employees understand the objectives.
- Prepare, analyze, and verify annual reports, financial statements, and other records, using accepted accounting and statistical procedures to assess financial condition and facilitate financial planning.
- Inspect cash on hand, notes receivable and payable, negotiable securities, and canceled checks to confirm records are accurate.
- Examine inventory to verify journal and ledger entries.
- Direct activities of personnel engaged in filing, recording, compiling and transmitting financial records.
- Conduct pre-implementation audits to determine if systems and programs under development will work as planned.
- Audit payroll and personnel records to determine unemployment insurance premiums, workers' compensation coverage, liabilities, and compliance with tax laws.
- Evaluate taxpayer finances to determine tax liability, using knowledge of interest and discount rates, annuities, valuation of stocks and bonds, and amortization valuation of depletable assets.
Tools & Technology
Tools used in this occupation:
- Desktop calculator — 10-key calculators
- Desktop computers
- Laser fax machine — Laser facsimile machines
- Notebook computers
- Personal computers
- Personal digital assistant PDAs or organizers — Personal digital assistants PDA
- Tablet computers
Technology used in this occupation:
- Analytical or scientific software — SAS software
- Compliance software — Intrax ProcedureNet; Paisley Cardmap; Sage HandiSoft HandiLedger; TrendTracker Compliance Solution (see all 12 examples)
- Data base user interface and query software — Microsoft Access
- Enterprise resource planning ERP software — SAP software
- Financial analysis software — Bi3 Financial Statement Fraud Analysis; CaseWare International IDEA SmartAnalyzer; MethodWare ProAudit Advisor; TopCAATs (see all 51 examples)
- Spreadsheet software — Microsoft Excel
- Time accounting software — WorkForce Software EmpCenter Time and Attendance
- Economics and Accounting — Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
- English Language — Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Administration and Management — Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
- Computers and Electronics — Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
- Mathematics — Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- Critical Thinking — Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
- Reading Comprehension — Understanding written sentences and paragraphs in work related documents.
- Active Listening — Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Speaking — Talking to others to convey information effectively.
- Active Learning — Understanding the implications of new information for both current and future problem-solving and decision-making.
- Complex Problem Solving — Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
- Judgment and Decision Making — Considering the relative costs and benefits of potential actions to choose the most appropriate one.
- Writing — Communicating effectively in writing as appropriate for the needs of the audience.
- Mathematics — Using mathematics to solve problems.
- Coordination — Adjusting actions in relation to others' actions.
- Monitoring — Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
- Systems Analysis — Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
- Systems Evaluation — Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.
- Time Management — Managing one's own time and the time of others.
- Management of Personnel Resources — Motivating, developing, and directing people as they work, identifying the best people for the job.
- Persuasion — Persuading others to change their minds or behavior.
- Social Perceptiveness — Being aware of others' reactions and understanding why they react as they do.
- Instructing — Teaching others how to do something.
- Learning Strategies — Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things.
- Negotiation — Bringing others together and trying to reconcile differences.
- Problem Sensitivity — The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
- Oral Expression — The ability to communicate information and ideas in speaking so others will understand.
- Written Comprehension — The ability to read and understand information and ideas presented in writing.
- Inductive Reasoning — The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
- Deductive Reasoning — The ability to apply general rules to specific problems to produce answers that make sense.
- Oral Comprehension — The ability to listen to and understand information and ideas presented through spoken words and sentences.
- Speech Clarity — The ability to speak clearly so others can understand you.
- Information Ordering — The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
- Mathematical Reasoning — The ability to choose the right mathematical methods or formulas to solve a problem.
- Near Vision — The ability to see details at close range (within a few feet of the observer).
- Written Expression — The ability to communicate information and ideas in writing so others will understand.
- Number Facility — The ability to add, subtract, multiply, or divide quickly and correctly.
- Speech Recognition — The ability to identify and understand the speech of another person.
- Category Flexibility — The ability to generate or use different sets of rules for combining or grouping things in different ways.
- Perceptual Speed — The ability to quickly and accurately compare similarities and differences among sets of letters, numbers, objects, pictures, or patterns. The things to be compared may be presented at the same time or one after the other. This ability also includes comparing a presented object with a remembered object.
- Flexibility of Closure — The ability to identify or detect a known pattern (a figure, object, word, or sound) that is hidden in other distracting material.
- Selective Attention — The ability to concentrate on a task over a period of time without being distracted.
- Fluency of Ideas — The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).
- Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.
- Evaluating Information to Determine Compliance with Standards — Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
- Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
- Updating and Using Relevant Knowledge — Keeping up-to-date technically and applying new knowledge to your job.
- Analyzing Data or Information — Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
- Interacting With Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
- Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
- Identifying Objects, Actions, and Events — Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
- Organizing, Planning, and Prioritizing Work — Developing specific goals and plans to prioritize, organize, and accomplish your work.
- Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.
- Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.
- Guiding, Directing, and Motivating Subordinates — Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.
- Coordinating the Work and Activities of Others — Getting members of a group to work together to accomplish tasks.
- Interpreting the Meaning of Information for Others — Translating or explaining what information means and how it can be used.
- Coaching and Developing Others — Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.
- Developing and Building Teams — Encouraging and building mutual trust, respect, and cooperation among team members.
- Documenting/Recording Information — Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
- Scheduling Work and Activities — Scheduling events, programs, and activities, as well as the work of others.
- Communicating with Persons Outside Organization — Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
- Provide Consultation and Advice to Others — Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.
- Training and Teaching Others — Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.
- Judging the Qualities of Things, Services, or People — Assessing the value, importance, or quality of things or people.
- Staffing Organizational Units — Recruiting, interviewing, selecting, hiring, and promoting employees in an organization.
- Developing Objectives and Strategies — Establishing long-range objectives and specifying the strategies and actions to achieve them.
- Monitor Processes, Materials, or Surroundings — Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.
- Monitoring and Controlling Resources — Monitoring and controlling resources and overseeing the spending of money.
- Resolving Conflicts and Negotiating with Others — Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
- Thinking Creatively — Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.
Detailed Work Activities
- Collect evidence for legal proceedings.
- Assess financial status of clients.
- Oversee business processes.
- Examine financial records or processes.
- Examine financial records.
- Calculate data to inform organizational operations.
- Prepare financial documents, reports, or budgets.
- Coordinate regulatory documentation activities.
- Investigate legal issues.
- Advise others on financial matters.
- Verify accuracy of financial information.
- Verify accuracy of records.
- Advise others on business or operational matters.
- Evaluate effectiveness of personnel policies or practices.
- Report information to managers or other personnel.
- Discuss business strategies, practices, or policies with managers.
- Telephone — 96% responded “Every day.”
- Electronic Mail — 92% responded “Every day.”
- Face-to-Face Discussions — 84% responded “Every day.”
- Spend Time Sitting — 72% responded “Continually or almost continually.”
- Duration of Typical Work Week — 80% responded “More than 40 hours.”
- Indoors, Environmentally Controlled — 80% responded “Every day.”
- Work With Work Group or Team — 44% responded “Extremely important.”
- Contact With Others — 44% responded “Contact with others most of the time.”
- Importance of Being Exact or Accurate — 56% responded “Very important.”
- Letters and Memos — 52% responded “Once a week or more but not every day.”
- Freedom to Make Decisions — 44% responded “Some freedom.”
- Time Pressure — 48% responded “Once a week or more but not every day.”
- Structured versus Unstructured Work — 56% responded “Some freedom.”
- Importance of Repeating Same Tasks — 40% responded “Very important.”
- Frequency of Decision Making — 32% responded “Every day.”
- Impact of Decisions on Co-workers or Company Results — 32% responded “Important results.”
- Level of Competition — 44% responded “Moderately competitive.”
- Coordinate or Lead Others — 28% responded “Very important.”
- Deal With External Customers — 32% responded “Very important.”
- Degree of Automation — 40% responded “Highly automated.”
- Responsibility for Outcomes and Results — 32% responded “High responsibility.”
|Title||Job Zone Four: Considerable Preparation Needed|
|Education||Most of these occupations require a four-year bachelor's degree, but some do not.|
|Related Experience||A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.|
|Job Training||Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.|
|Job Zone Examples||Many of these occupations involve coordinating, supervising, managing, or training others. Examples include accountants, sales managers, database administrators, teachers, chemists, art directors, and cost estimators.|
|SVP Range||(7.0 to < 8.0)|
Percentage of Respondents
|Education Level Required|
This occupation may require a background in the following science, technology, engineering, and mathematics (STEM) educational disciplines:
Interest code: CEI
- Conventional — Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
- Enterprising — Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
- Investigative — Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.
- Integrity — Job requires being honest and ethical.
- Attention to Detail — Job requires being careful about detail and thorough in completing work tasks.
- Analytical Thinking — Job requires analyzing information and using logic to address work-related issues and problems.
- Dependability — Job requires being reliable, responsible, and dependable, and fulfilling obligations.
- Persistence — Job requires persistence in the face of obstacles.
- Stress Tolerance — Job requires accepting criticism and dealing calmly and effectively with high stress situations.
- Self Control — Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
- Initiative — Job requires a willingness to take on responsibilities and challenges.
- Achievement/Effort — Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
- Cooperation — Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
- Independence — Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
- Leadership — Job requires a willingness to lead, take charge, and offer opinions and direction.
- Adaptability/Flexibility — Job requires being open to change (positive or negative) and to considerable variety in the workplace.
- Concern for Others — Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job.
- Innovation — Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems.
- Social Orientation — Job requires preferring to work with others rather than alone, and being personally connected with others on the job.
- Independence — Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
- Achievement — Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
- Recognition — Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status.
Wages & Employment Trends
Median wages data collected from Accountants and Auditors.
Employment data collected from Accountants and Auditors.
Industry data collected from Accountants and Auditors.
|Median wages (2014)||$31.70 hourly, $65,940 annual|
|Employment (2012)||1,275,000 employees|
|Projected growth (2012-2022)||Average (8% to 14%)|
|Projected job openings (2012-2022)||544,200|
|Top industries (2012)|
Source: Bureau of Labor Statistics 2014 wage data and 2012-2022 employment projections . "Projected growth" represents the estimated change in total employment over the projections period (2012-2022). "Projected job openings" represent openings due to growth and replacement.
Job Openings on the Web
Sources of Additional Information
Disclaimer: Sources are listed to provide additional information on related jobs, specialties, and/or industries. Links to non-DOL Internet sites are provided for your convenience and do not constitute an endorsement.
- Accountants and Auditors . Bureau of Labor Statistics, U.S. Department of Labor. Occupational Outlook Handbook, 2014-15 Edition.