Keen to begin your career as an auditor? Online Courses Australia helps you step into this detail-driven field with courses that focus on the key parts of the job. You’ll learn to review financial records, understand the workings of internal and external audits, and get to grips with financial statements—all online, at your own pace.
With us, you'll pick up the know-how that auditors use every day to check that businesses are on the money, from managing risks to maintaining clear communication with stakeholders. These aren’t just the basics; they're the tools you’ll use all the time in the auditing world.
What Does an Auditor Do?
An auditor checks a company's financial records for accuracy, ensuring they follow laws and regulations. They assess risks, suggest improvements, and make sure that the financial reporting is clear and correct. Auditors help businesses in Australia manage their finances responsibly and keep stakeholders informed.
Internal Auditor Vs External Auditor
- Works as part of the organisation’s own staff, typically in the internal audit department.
- Focuses on risk management, internal controls, governance, and process improvement.
- Offers ongoing review and recommendations for improvement.
- Helps the organisation to accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
- Their role is more consultative, and they may be involved in the preparation of financial statements but do not audit them.
- Is an independent third party usually employed by an accounting firm.
- Concentrates on the accuracy of annual financial statements and compliance with applicable accounting standards and regulations.
- Performs an annual audit to provide an opinion on whether the financial statements present a true and fair view of the company's financial performance and position.
- Their primary role is to assure external stakeholders, such as shareholders, that the financial statements are free from material misstatement.
- Is not typically involved in the day-to-day activities of the business and does not provide ongoing support.
Day in the Life of an Auditor
A typical day in the life of an auditor in Australia will see you do a whole range of different tasks, such as:
Typical Daily Duties
- Review financial statements for accuracy and compliance with Australian standards.
- Conduct internal control assessments to safeguard against financial risks.
- Collaborate with audit managers to plan and execute audits.
- Meet with company auditors to discuss findings and recommendations.
- Perform risk management evaluations to identify financial discrepancies.
- Prepare detailed audit reports and communicate outcomes to stakeholders.
- Engage in professional development activities to stay current with auditing regulations.
- Utilise auditing software and tools for efficient analysis of financial data.
- Provide feedback on systems and processes for better financial reporting.
- Offer insights and advice for potential areas of cost savings or financial efficiency.
Contemplating a career as an auditor? You’ll need a blend of soft skills (skills you likely already have) and hard skills (skills you’d learn via study pathways).
Auditor Soft Skills
- Effective communication
- Critical thinking
- Communication skills
- Ethical judgement
- Attention to detail
- Discretion and trustworthiness
Hard Skill-Sets for Auditors
- Proficient in auditing software and tools for financial analysis, capable of managing large datasets to evaluate a company’s financial status accurately.
- Skilled in understanding and applying financial reporting standards, ensuring all auditing activities align with current Australian regulations and guidelines.
- Competent in risk management assessments, able to identify potential financial risks and propose effective strategies to mitigate them.
- Experienced with internal controls, capable of assessing and improving financial processes to safeguard company assets.
- Adept in preparing thorough audit reports that detail findings and provide clear recommendations to enhance business financial practices.
- Proficient in data analysis and problem-solving, with a strong ability to scrutinise financial records and identify discrepancies that could indicate issues like fraud or mismanagement.
How Much Can You Earn as an Auditor?
According to the Australian Government Labour Market Insights, the average salary for an auditor is $102,700, which is well above the median annual salary in Australia.
Auditor Job Outlook
The Australian job market for auditors has been steadily growing over the past five years.
According to Jobs & Skills Australia’s auditor employment outlook, the number of auditing jobs is likely to reach 44,000 by 2026.
This means there’s never been a better time to begin your career path towards becoming an auditor, with plenty of job opportunities now and into the future.
How to Become an Auditor
Pursuing a career as an auditor opens doors to various career paths, from ensuring the accuracy of small businesses' financial activities to safeguarding the assets of multinational corporations. Here's how you can start:
- Online Courses: Launch your auditor career with courses that mirror real-world auditing practices. At Online Courses Australia, our courses are rich in content yet flexible enough to fit into your life seamlessly, allowing you to master the intricacies of auditing at your preferred pace—ideal for those balancing multiple commitments.
- Micro-Credentials: Sharpen your auditing expertise with targeted short courses that hone in on key competencies such as how to prepare and monitor budgets. These short courses are intense knowledge capsules, giving you practical skills that you can apply immediately in any auditing context.
These learning options are more than just courses; they're practical steps towards a career in auditing, equipping you with valuable, workplace-ready skills.
Start Your Auditor Journey With OCA
Ready to get serious about your career as a professional auditor? Online Courses Australia can get you started without stepping out your door.
Study That Suits You
Our courses cover all you need to know about auditing, in a format that fits your life. Part-time or full-time, you set the pace.
Our courses focus on giving you the hands-on experience and practical expertise you need to hit the ground running in any professional auditing environment.
Kick off your auditing path with Online Courses Australia. Build the skills for a future in finance. Enrol and begin today.
If you have additional questions about our finance courses or our full range of courses that cover more than 20 different professional industries:
Related Courses & Roles
If you have a genuine passion for working in finance, the financial industry offers a wealth of career options beyond just auditing.
Here are some related courses and roles to check out:
- Career Development