audit accounting

Audit Accounting

Discover what audit accounting involves and why it’s such a popular career route for graduates

As companies and public sector organisations face increasing scrutiny over their finances, audit accountants are entrusted with the responsibility of reviewing financial records to ensure they are accurate and compliant.

Audit accounting can be an internal process with a focus on mitigating risk and identifying areas where cost savings can be made. Alternatively, audit accountants can be independent specialists who conduct external audits on company accounts.

What does an Auditor do?

In addition to examining and preparing financial documentation and written reports, auditors must explain their findings. This includes face-to-face meetings with organization managers and individual clients.

An auditor typically does the following:

  • Examines financial statements to be sure that they are accurate and comply with laws and regulations
  • Computes taxes owed, prepares tax returns, and ensures that taxes are paid properly and on time
  • Inspects account books and accounting systems for efficiency and use of accepted accounting procedures
  • Organizes and maintains financial records
  • Assesses financial operations and makes best-practices recommendations to management Suggests ways to reduce costs, enhance revenues, and improve profits

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