Senior Auditor Salary
An average Senior Auditor in the United States can expect to take home roughly $67K annually. Total cash compensation to Senior Auditors approaches anywhere from $54K on the lower end to $90K on the higher end; in exceptional cases, this can include more than $8K from bonuses and upwards of $6K from profit sharing. The particular firm is the main element affecting pay for this group — geography and years of experience are driving factors as well. Most Senior Auditors are fairly content with their jobs, and work satisfaction falls in line with the national average. Most report receiving medical coverage from their employers and a strong majority collect dental insurance.
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 go on to become Chief Financial Officers may see their salaries climb quite a bit. Median pay for Chief Financial Officers is $123K annually. Auditing Managers or Financial Controllers are common next-step roles for Senior Auditors moving up in their careers; annual pay for Auditing Managers is $16K higher on average, and it's $9K higher for Financial Controllers.
Senior Auditor Job Listings
Search for more jobs:
Popular Employer Salaries for Senior Auditor
Dominating the field, EY (Ernst & Young), Deloitte & Touche LLP, KPMG, LLP, PricewaterhouseCoopers, and BDO Seidman, LLP are top firms with a reputation for hiring a great number of Senior Auditors. Defense Contract Audit Agency attracts talent by shelling out the biggest paychecks in the area — the median in that office is $81K. Soaring salaries can also be found at PricewaterhouseCoopers, Grant Thornton Llp, and KPMG, LLP, where earnings of $74K, $72K, or $72K are standard for Senior Auditors.
Workers at Deloitte, Crowe, Chizek and Company LLP, and Wells Fargo & Co. also face smaller salaries than the rest of the field — average earnings for these employers come to $60K, $64K, and $64K respectively.
Popular Skills for Senior Auditor
Survey participants wield an impressively varied skill set on the job. Most notably, skills in Sarbanes-Oxley, Internal Audit, Risk Management / Risk Control, and Data Analysis are correlated to pay that is above average, with boosts between 6 percent and 8 percent. Most people skilled in Auditing are similarly competent in Microsoft Excel.
Pay by Experience Level for Senior Auditor
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Senior Auditors do not generally earn higher incomes from more experience in the field. Although individuals who have less than five years' experience earn $66K on average, people with five to 10 years benefit from a notably larger average of $75K. People with 10 to 20 years of experience make an average of about $76K in this role. Senior Auditors who have acquired more than two decades of experience generally do see greater compensation; their average income is approximately $82K.
Pay Difference by Location
Senior Auditors in search of higher pay head east. Washington, New York, and Boston all offer salaries above the national rate. Those in the field find the lowest salaries in Denver, 7 percent below the national average. Two other places where employers offer below-median salaries are Minneapolis (5 percent less) and Seattle (2 percent less).
Senior Auditor Reviews
Related Job Salaries
Key Stats for Senior Auditor
Rated 4 out of 5
based on 201 votes.