Independent auditors analyze, review, and develop an opinion asserting the reliability and fairness of their clients’ financial statements, communicating this information to external users such as investors, creditors, and government organizations. In addition, independent auditors may perform a variety of auditing, tax, and consulting services for their clients, who may be individuals, corporations, government, or not-for-profit entities. However, since Sarbanes-Oxley was created in 2002, independent auditors are restricted to the types of services they can perform for clients they also audit. Independent auditors may work for public accounting firms or be self-employed. Many independent auditors are Certified Public Accountants (CPAs) or Chartered Accountants (CAs).
Types of services performed
- Examine financial statements and related financial data
- Analyze business operations and processes
- Provide recommendations on achieving greater efficiency
- Evaluate company assets for impairment and proper valuation
- Determine tax liability, ensuring compliance with tax code and laws
- Communicate to external parties the financial health of the client
Useful skills, characteristics and subject areas of knowledge
- Computer systems
- Mathematical skills
- Working in teams
- Analytical
- Ability to problem solve
- Detail-oriented
- Written communication
- Verbal communication
- Professional skepticism
- Assertive
Education and Training
- Bachelor’s degree in Accounting or related field
- Master’s degree may be required for certain jobs
- Certified Fraud Examiner designation
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