After all the time and work youve put into school and preparation for a business career, there comes a time you are reaching your final preparations for the CPA exam. Perhaps youve looked into your career expectations and know you need the CPA certification, but you arent sure what to expect upon entering the world of accounting with your first job role. Problem solved: we give you a look at what you can realistically expect upon entering the business world as an auditor, a typical entry level position for the new CPA exam graduate.
Later in your career you may find an area of expertise and become specialized, but in an entry level position you can expect a wide range of responsibilities as an auditor. You will review and analyze the company from a multi-level viewpoint; youll be asked to review a companys general processes, services, organizational processes and employee functions. Entry level auditors are also asked to research and provide statistical information concerning the functions of a companys profit generation.
How Auditors Improve a Company
Auditors, generally speaking, improve a company by second guessing the existing policies. By assuring these policies are valid and in place for a reason, the auditor makes sure the company is operating at peak efficiency. The auditors job is to find any policies are not in the companys best interest. In this case, the policies may need to be changed.
For example, an auditor might find a real time delay in reporting the movement of inventory, resulting in unnecessary additional storage fees until the inventory is accounted for. The use of newer tracking programming or additional training for warehouse employees would solve the problem.
A similar but more problematic example may be excess obsolete inventory. Not only does this take up space while management determines what to do, this type of inventory infinitely ties up resources. As an auditor you will not only find the problem, but the underlying cause of the issue, providing a solution that improves company efficiency.
Company Facets Which Auditors Review
After passing your CPA examand accepting a job as an auditor, you will be assigned to review any aspect of a company. First, managers or consultants will determine perceived problem areas. These could be anything from reporting of financial data, the currently used IT systems, or the general hiring practices. They could also include a review of the handling of expense accounts or physical inventory. In some cases you may be called on to audit less tangible fields such as environmental impact or methods of legal compliance used by your company.Then, you, the auditor will review these aspects, determine the immediacy of the problem and suggest solutions.
This wide range of review processes will require a broad spectrum of knowledge. You will be presented with new challenges with each auditing assignment, but these challenges will keep each assignment new and interesting. New levels of government regulation make the auditing profession an expanding field. Competing private ventures force each company to operate at peak efficiency for success. After becoming licensed, you may take an entry level position doing a bit of everything, but as your career advances youll likely find the specialties in which you thrive. Our last words: use your education and take pride in your work and youre certain to excel in a productive career.