Audit Specialist Salary
Job Description for Audit Specialist
An audit specialist provides internal audit services to a company to ensure that various departments are adhering to company guidelines and legal requirements. The audit specialist must have proficient computer skills, as creating reports is often required. The audit specialist must carry out audits in an objective manner and must be familiar with company operations and products. Often, a software program is used in this process and to detect anomalies.Read More...
The audit specialist analyzes operations and documents to ensure that they are running effectively and appropriately. The audit specialist oversees various audits, including those involving financial performance and company operations. The position often requires leading an audit team to carry out various audits. When these audits are assigned, the audit specialist oversees them to ensure that they are carried out correctly within the specified time frame. The audit specialist should also make sure that each team member is carrying out the audits according to pre-determined guidelines.
The audit specialist must stay up to date with changes in laws to ensure that departments within the company are educated and adhere to the changes. The audit specialist should also carry out continuous research to learn about changes and trends within the field, reporting them to management to determine if changes in operations need to be carried out accordingly.
The position generally requires a bachelor’s degree in business, accounting, or a related field. Many positions require experience in auditing positions.
Audit Specialist Tasks
- Assist with month end closing, including reports and explanations of variances.
- Prepare and review financial statements and accounting entries.
- Perform basic accounting, such as recording revenues and reconcile and audit daily cash.
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Popular Skills for Audit Specialist
Audit Specialists only report a few specific skills. Fortunate workers who know Internal Audit can expect a significant pay bump, scoring salaries 51 percent above average. At the other end of the pay range are skills like Auditing. Those educated in Microsoft Excel tend to be well versed in Microsoft Word.
Pay by Experience Level for Audit Specialist
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Relatively untried employees who have fewer than five years of experience earn around $40K on average. People who have worked for five to 10 years can expect a higher median salary of $45K. For Audit Specialists, 10 to 20 years of experience on the job amounts to an average salary of $43K. Audit Specialists who have spent more than 20 years on the job report earning a significantly higher median of $82K.