Careers in Auditing

Commissionng an audit is now a widespread practice within large-scale organizations. Whether to restructure tasks, optimize individual working hours, or ensure compliance with various standards, auditing serves as an effective way to gain a fresh perspective on a company’s operations.

How does auditing work?

A company’s management may request an audit of a specific department to assess its current status and the performance of its employees. The objective is to gather information and analyze a particular business sector through an assessment conducted by either an internal or an independent observer. There are several types of audits, beginning with internal audits, which are performed by company members to evaluate or certify the operations of a specific department. However, these often serve as a precursor to an external audit, conducted by independent third parties. This type of audit can validate certain decisions and, most importantly, provide certifications for recognized standards such as ISO 9000. Audits can focus on any area of a company; the most well-known, likely due to its long-standing history, is the financial and accounting audit, which monitors, verifies, and inspects a company’s accounts and finances. Additionally, environmental audits or IT infrastructure audits can be conducted. These audits can be carried out at every level, ranging from the hardware itself and network security to the way technology is utilized within the organization.

Who are the experts conducting these audits?

Typically graduates of business schools, auditors may be employed directly by the company they are auditing or may work for an external firm specializing in such operations. It is important to note that each professional has a preferred area of expertise; for instance, an environmental auditor would not be qualified to conduct an IT systems audit. Consequently, specialization is essential, even within financial auditing. There are several distinct categories, ranging from tax specialists and treasury auditors to auditors working for the Court of Auditors. Auditing is, in fact, a vast field encompassing all possible business sectors. The most sought-after roles include auditors specializing in human resources, performance management, or cost optimization, all of which share the common goal of optimizing a company’s human or financial capital. However, to secure a position within an auditing firm or as an internal auditor, one must undergo relatively extensive studies, requiring a minimum of five years of post-secondary education, and often more for complex specializations. It is also possible to serve as an auditor in the public sector by becoming an auditor for the Court of Auditors, which acts as an external expert in overseeing government administrations.