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, Financial Auditor, Internal Audit Director, Internal Auditor, Revenue Tax Specialist
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
- Prepare detailed reports on audit findings.
- Report to management about asset utilization and audit results, and recommend changes in operations and financial activities.
- Collect and analyze data to detect deficient controls, duplicated effort, extravagance, fraud, or non-compliance with laws, regulations, and management policies.
- Supervise auditing of establishments, and determine scope of investigation required.
- Inspect account books and accounting systems for efficiency, effectiveness, and use of accepted accounting procedures to record transactions.
- 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.
- Review data about material assets, net worth, liabilities, capital stock, surplus, income, and expenditures.
- Examine and evaluate financial and information systems, recommending controls to ensure system reliability and data integrity.
- Confer with company officials about financial and regulatory matters.
- Inspect cash on hand, notes receivable and payable, negotiable securities, and canceled checks to confirm records are accurate.
- Examine records and interview workers to ensure recording of transactions and compliance with laws and regulations.
- Examine inventory to verify journal and ledger entries.
- 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.
- Examine whether the organization's objectives are reflected in its management activities, and whether employees understand the objectives.
- Audit payroll and personnel records to determine unemployment insurance premiums, workers' compensation coverage, liabilities, and compliance with tax laws.
- Review taxpayer accounts, and conduct audits on-site, by correspondence, or by summoning taxpayer to office.
- Examine records, tax returns, and related documents pertaining to settlement of decedent's estate.
- Produce up-to-the-minute information, using internal computer systems, to allow management to base decisions on actual, not historical, data.
- 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.
Tools & Technology
Tools used in this occupation:
- Desktop calculator — 10-key calculators
- Desktop computers
- Laser fax machine — Laser facsimile machines
- Notebook computers — Laptop computers
- Personal computers
- Personal digital assistant PDAs or organizers — Personal digital assistants PDA
- Scanners — Computer data input scanners
- Tablet computers
Technology used in this occupation:
- Accounting software — Client billing software; Intuit QuickBooks ; Sage 50 Accounting ; Sageworks ProfitCents (see all 6 examples)
- Analytical or scientific software — ACL Audit Exchange; Guidance Software EnCase Enterprise; SAS ; WizSoft WizRule (see all 5 examples)
- Business intelligence and data analysis software — IBM Cognos Impromptu ; Qlik Tech QlikView ; Tableau
- Compliance software — Intrax ProcedureNet; Paisley Cardmap; Sage HandiSoft HandiLedger; TrendTracker Compliance Solution (see all 12 examples)
- Data base user interface and query software — Data entry software ; Microsoft Access ; Structured query language SQL
- Data mining software — Data extraction software; WizSoft WizWhy
- Development environment software — Microsoft Visual Basic
- Electronic mail software — IBM Notes
- Enterprise resource planning ERP software — Microsoft Dynamics GP ; Oracle Fusion Applications ; Oracle PeopleSoft ; SAP (see all 8 examples)
- Enterprise system management software — IBM Power Systems software
- Financial analysis software — Bi3 Financial Statement Fraud Analysis; CaseWare International IDEA SmartAnalyzer; Oracle E-Business Suite Financials ; Thomson Reuters Risk Management (see all 51 examples)
- Graphics or photo imaging software — Microsoft Visio
- Information retrieval or search software — LexisNexis
- Medical software — Healthcare common procedure coding system HCPCS ; Medical condition coding software ; Medical procedure coding software
- Object or component oriented development software — R
- Office suite software — Corel WordPerfect Office Suite; Microsoft Office; Microsoft Works
- Operating system software — UNIX
- Presentation software — Google Slides; Microsoft PowerPoint
- Project management software — Oracle Primavera Enterprise Project Portfolio Management
- Spreadsheet software — Google Sheets; Microsoft Excel
- Time accounting software — WorkForce Software EmpCenter Time and Attendance
- Video creation and editing software — TechSmith Camtasia
- Word processing software — Google Docs; Microsoft Word
Hot Technology — a technology requirement frequently included in employer job postings.
- 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.
- Mathematics — Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- 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.
- Customer and Personal Service — Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
- Law and Government — Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
- Computers and Electronics — Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
- 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.
- Reading Comprehension — Understanding written sentences and paragraphs in work related documents.
- Critical Thinking — Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
- Speaking — Talking to others to convey information effectively.
- Writing — Communicating effectively in writing as appropriate for the needs of the audience.
- Complex Problem Solving — Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
- Active Learning — Understanding the implications of new information for both current and future problem-solving and decision-making.
- Judgment and Decision Making — Considering the relative costs and benefits of potential actions to choose the most appropriate one.
- Mathematics — Using mathematics to solve problems.
- Time Management — Managing one's own time and the time of others.
- Monitoring — Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
- Persuasion — Persuading others to change their minds or behavior.
- Coordination — Adjusting actions in relation to others' actions.
- Management of Personnel Resources — Motivating, developing, and directing people as they work, identifying the best people for the job.
- Negotiation — Bringing others together and trying to reconcile differences.
- Social Perceptiveness — Being aware of others' reactions and understanding why they react as they do.
- Systems Analysis — Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
- Instructing — Teaching others how to do something.
- Service Orientation — Actively looking for ways to help people.
- 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.
- Deductive Reasoning — The ability to apply general rules to specific problems to produce answers that make sense.
- Number Facility — The ability to add, subtract, multiply, or divide quickly and correctly.
- Oral Expression — The ability to communicate information and ideas in speaking so others will understand.
- 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.
- Written Expression — The ability to communicate information and ideas in writing so others will understand.
- Inductive Reasoning — The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
- 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.
- Oral Comprehension — The ability to listen to and understand information and ideas presented through spoken words and sentences.
- Written Comprehension — The ability to read and understand information and ideas presented in writing.
- Near Vision — The ability to see details at close range (within a few feet of the observer).
- Speech Clarity — The ability to speak clearly so others can understand you.
- 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.
- 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).
- Selective Attention — The ability to concentrate on a task over a period of time without being distracted.
- 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.
- Memorization — The ability to remember information such as words, numbers, pictures, and procedures.
- Originality — The ability to come up with unusual or clever ideas about a given topic or situation, or to develop creative ways to solve a problem.
- 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.
- 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.
- Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.
- 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.
- Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.
- Documenting/Recording Information — Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
- Analyzing Data or Information — Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
- Identifying Objects, Actions, and Events — Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
- 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.
- Organizing, Planning, and Prioritizing Work — Developing specific goals and plans to prioritize, organize, and accomplish your work.
- Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.
- Coordinating the Work and Activities of Others — Getting members of a group to work together to accomplish tasks.
- 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.
- 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.
- Guiding, Directing, and Motivating Subordinates — Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.
- Provide Consultation and Advice to Others — Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.
- Scheduling Work and Activities — Scheduling events, programs, and activities, as well as the work of others.
- Training and Teaching Others — Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.
- Monitor Processes, Materials, or Surroundings — Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.
- Thinking Creatively — Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.
- Resolving Conflicts and Negotiating with Others — Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
- Staffing Organizational Units — Recruiting, interviewing, selecting, hiring, and promoting employees in an organization.
- Performing Administrative Activities — Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.
- Developing Objectives and Strategies — Establishing long-range objectives and specifying the strategies and actions to achieve them.
- Judging the Qualities of Things, Services, or People — Assessing the value, importance, or quality of things or people.
- Selling or Influencing Others — Convincing others to buy merchandise/goods or to otherwise change their minds or actions.
- Monitoring and Controlling Resources — Monitoring and controlling resources and overseeing the spending of money.
- Performing for or Working Directly with the Public — Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
- Estimating the Quantifiable Characteristics of Products, Events, or Information — Estimating sizes, distances, and quantities; or determining time, costs, resources, or materials needed to perform a work activity.
Detailed Work Activities
- Prepare financial documents, reports, or budgets.
- Advise others on financial matters.
- Advise others on business or operational matters.
- Report information to managers or other personnel.
- Examine financial records.
- Collect evidence for legal proceedings.
- Investigate legal issues.
- Oversee business processes.
- Verify accuracy of financial information.
- Examine financial records or processes.
- Discuss business strategies, practices, or policies with managers.
- Verify accuracy of records.
- Assess financial status of clients.
- Calculate data to inform organizational operations.
- Coordinate regulatory documentation activities.
- Evaluate effectiveness of personnel policies or practices.
- Electronic Mail — 100% responded “Every day.”
- Face-to-Face Discussions — 81% responded “Every day.”
- Telephone — 81% responded “Every day.”
- Work With Work Group or Team — 76% responded “Extremely important.”
- Indoors, Environmentally Controlled — 81% responded “Every day.”
- Contact With Others — 62% responded “Constant contact with others.”
- Importance of Being Exact or Accurate — 52% responded “Extremely important.”
- Spend Time Sitting — 62% responded “Continually or almost continually.”
- Letters and Memos — 52% responded “Every day.”
- Duration of Typical Work Week — 71% responded “More than 40 hours.”
- Impact of Decisions on Co-workers or Company Results — 48% responded “Important results.”
- Responsibility for Outcomes and Results — 43% responded “High responsibility.”
- Coordinate or Lead Others — 48% responded “Very important.”
- Frequency of Decision Making — 38% responded “Once a week or more but not every day.”
- Level of Competition — 62% responded “Highly competitive.”
- Time Pressure — 33% responded “Once a week or more but not every day.”
- Deal With External Customers — 33% responded “Extremely important.”
- Freedom to Make Decisions — 52% responded “Some freedom.”
- Structured versus Unstructured Work — 62% responded “Some freedom.”
- Importance of Repeating Same Tasks — 30% responded “Extremely important.”
- Physical Proximity — 60% responded “Slightly close (e.g., shared office).”
- Frequency of Conflict Situations — 43% responded “Once a month or more but not every week.”
|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, graphic designers, 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.
- Stress Tolerance — Job requires accepting criticism and dealing calmly and effectively with high stress situations.
- Cooperation — Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
- Initiative — Job requires a willingness to take on responsibilities and challenges.
- Leadership — Job requires a willingness to lead, take charge, and offer opinions and direction.
- Achievement/Effort — Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
- Persistence — Job requires persistence in the face of obstacles.
- Self Control — Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
- Adaptability/Flexibility — Job requires being open to change (positive or negative) and to considerable variety in the workplace.
- Social Orientation — Job requires preferring to work with others rather than alone, and being personally connected with others on the job.
- 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.
- 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.
- 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 (2015)||$32.30 hourly, $67,190 annual|
|Employment (2014)||1,333,000 employees|
|Projected growth (2014-2024)||Faster than average (9% to 13%)|
|Projected job openings (2014-2024)||498,000|
|Top industries (2014)|
Source: Bureau of Labor Statistics 2015 wage data and 2014-2024 employment projections . "Projected growth" represents the estimated change in total employment over the projections period (2014-2024). "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, 2016-17 Edition.