Senior Auditor Salary
Senior Auditors in the United States can expect to earn an average of $67K annually. Total cash compensation to Senior Auditors bottoms out near $53K and approaches $90K on the high end; the biggest paychecks include approximately $8K from bonuses and almost $5K from profit sharing. This group's pay is mainly influenced by the company, followed by geography and years of experience. The majority of individuals in this role claim moderate levels of job satisfaction. Male Senior Auditors are just a bit more common among those who completed the questionnaire than females ones, with male workers composing 59 percent of the field. Medical benefits are awarded to most, and a strong majority earn dental coverage.
Job Description for Senior Auditor
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.Read More...
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.
Common Career Paths for Senior Auditor
Senior Auditors who transition into a Chief Financial Officer role may receive large pay increases as the latter position pays an average $123K per year. Senior Auditors moving up in their careers tend to step into positions as Auditing Managers or Financial Controllers. The median paychecks in those roles are $16K higher and $9K higher, respectively.
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Popular Employer Salaries for Senior Auditor
Well-known firms with a reputation for hiring numerous Senior Auditors include EY (Ernst & Young), Deloitte & Touche LLP, KPMG, LLP, PricewaterhouseCoopers, and BDO Seidman, LLP. Defense Contract Audit Agency leads the field in terms of pay, with a median salary of $81K. Other big spenders include PricewaterhouseCoopers, Grant Thornton Llp, and KPMG, LLP, top-paying firms where Senior Auditors see paychecks nearing $76K, $73K, or $72K.
Deloitte, Mcgladrey, and Crowe, Chizek and Company LLP also scrape the bottom of the pay scale, with median earnings hovering around $60K, $63K, and $64K.
Popular Skills for Senior Auditor
Survey respondents exploit a significant toolbox of skills in their work. Most notably, skills in Internal Audit, Sarbanes-Oxley, Risk Management / Risk Control, and Sarbanes-Oxley Compliance Audit are correlated to pay that is above average, with boosts in pay of 7 percent. Most people who know Auditing also know Microsoft Excel.
Pay by Experience Level for Senior Auditor
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience does not seem to be a strong driver of pay increase in this role. Salaries of relatively inexperienced workers fall in the neighborhood of $66K, but folks who have racked up five to 10 years see a notably higher median of $74K. People with 10 to 20 years of experience make an average of about $76K in this role. Veterans who have worked for more than two decades do tend to make the most in the end; the median pay for this group is $81K.
Pay Difference by Location
With a pay rate for Senior Auditors that is 20 percent greater than the national average, Washington offers a comfortable salary for those in this profession. Senior Auditors can also look forward to large paychecks in cities like Los Angeles (+12 percent), New York (+10 percent), Boston (+8 percent), and San Francisco (+7 percent). Trailing the national average by 7 percent, Minneapolis is the market with the smallest paychecks. Not at the bottom but still paying below the median are employers in St. Louis and Denver (6 percent less).
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