Senior auditors conduct audits for companies to ensure compliance in financial and operational areas. They ensure that businesses operate smoothly and inspect records for cases of waste or fraud. Senior auditors are typically responsible for overseeing the entire auditing process for a company. In large organizations, they may have staff auditors who report directly to them.
Senior auditors must make a decision as to whether or not items on a financial statement are factual, complete, and free from errors. Reliability and relevance are two factors that senior auditors take into account when they are evaluating a financial statement. The biggest responsibility of a senior auditor is to check for errors and suspicious activity in a company’s records. They document areas in which a company can run more effectively, as well as how to manage certain operations to ensure that valuable resources such as time, money, and effort aren’t wasted.
Senior auditors must have at least a bachelor’s degree in accounting, business, or a related field. Most corporations prefer a senior auditor to have a master’s degree in one or more of these fields. Certifications are also available, but they are seen as supplementary and are not sufficient alone.
Senior Auditor Tasks
- Analyze financial data to insure efficiency, accuracy, and compliance with relevant laws and standards, as well as to find instances of accounting deficiencies and/or fraud.
- Oversee, guide, and mentor junior auditors.
- Develop risk appraisal guidelines and audit paperwork templates.
- Plan and conduct audits, prepare reports on a monthly or yearly basis for clients, and take point as the lead reviewer.