To become an independent auditor, one needs a degree in accounting, experience in general accounting, and professional certification. Internal auditors work for the company while external auditors work for an external company. In the US, accountants need 150 hours of coursework and a certification exam to become a CPA.
Independent auditors are expected to have a bachelor’s degree in accounting and experience working in general accounting, usually at a public accounting firm. With these basic credentials, you can specialize in auditing and eventually become an independent auditor who can issue a professional opinion and sign off on audit reports. Certain advanced credentials will facilitate the development of a professional profile, such as professional certification and advanced degrees.
An auditor is an accountant who has a specialty. The basic educational requirement to become an accountant is a bachelor’s degree in accounting. Unlike other majors, your grade point average and accounting grades will affect your prospects for employment at large public accounting firms. You must demonstrate some proficiency in numbers and financial topics through success in school before a company will hire you to track their money.
The auditors of companies can be internal or external. An internal auditor is an employee of the company and provides ongoing financial oversight and control. External auditors, on the other hand, are independent and work for an external company that provides consulting services to the company from time to time. In order to become an independent auditor, it often makes more sense, when out of school, to look for an entry-level position with an accounting firm, rather than a corporate accounting department.
Once you have some general accounting experience, you can start to position yourself to become an independent auditor. Public companies are required by law to conduct an independent audit once a year. You should have opportunities to work on audit teams at certain peak times while maintaining a general accounting workload. As you progress in the specialty, however, your employer will likely require you to earn your professional certification before you can sign audit reports that provide your own professional opinions.
Every country certifies its accountants according to its own established procedure. In the United States, for example, accountants are certified at the state level. You will need 150 hours of coursework in the US before you qualify for the certification exam. This number of hours is equivalent to obtaining bachelor’s and master’s degrees. If you plan to become an independent auditor, it makes more sense to work at an advanced level such as an MBA (Master of Business Administration) because you will need hours to qualify for the certification exam.
You must take a two-day standardized certification test after having the required number of hours of course work. If you pass the standardized exam, you can represent yourself as a certified public accountant (CPA). With your educational degrees, professional certification, and hands-on auditing experience, you will be well qualified to apply for an independent auditor position.
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