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Graduating from college with a marketable degree that will provide a quick return on investment is a top priority, and any student who elects to become an auditor is well ahead of the curve in this regard. Accounting, particularly auditing, is a nearly recession-proof industry. Individuals and businesses will always need to have their finances analyzed, because federal and state laws require this type of oversight to minimize incidences of illegal or wasteful financial activity. What follows is is a brief outline of what an auditor does, as well as what skills you will need to enter and excel in the audit profession.
What an Auditor Does
Auditors examine businesses’ and individuals’ financial records to identify fraud, waste, inefficiencies, and other irregularities or undesirable uses of resources. The skills you need to be a successful auditor, as well as those you acquire in the process of performing audits, translate well to other areas of the business world. Thus, if you desire flexibility and security in your professional life, you will find life as an auditor to be quite satisfying.
Obtain an Undergraduate Degree in Accounting
Obtaining an undergraduate degree in accounting is a must for any aspiring auditor, according to the Bureau of Labor Statistics. Courses you will likely be required to complete include financial accounting, managerial accounting, tax accounting, business statistics, auditing practice and theory, business law, economics and financial management. Many of these courses are not for the faint of heart. Prepare yourself for long days filled with extensive lectures, problem sets, study sessions and career-oriented extracurricular events. If you have difficulty managing your time or dislike working with numbers, it would probably be wise to consider a different career path.
Keep Your Grades Up
Although it is not impossible to obtain an audit position with a sub-3.0 GPA, grades this low will make the process an uphill battle. Most accounting firms require a minimum GPA of 3.2 to merit consideration for an interview. The largest, most selective firms, often require a 3.4 or, in larger markets, a 3.5 GPA to be considered. Even if you do not have big firm aspirations, no one wants to waste valuable interview time explaining away a low mark in a particular class or two. That way, you can spend it selling yourself and demonstrating to your potential employer why you would be the best fit for the job.
Be an Amiable, Well-Rounded Candidate
Although good grades may be necessary to obtain an audit job, they are by no means sufficient. Employers like to hire personable, well-rounded candidate. After all, you will be spending a great deal of time with your coworkers, especially during tax season. Interpersonal skills are of paramount importance. Your resume and GPA can get you an interview, but your demeanor, poise and personality will ultimately convince potential employers to hire you.
Related Resource: Certified Managerial Accountant
Conclusion
Completing an accounting degree and becoming an auditor requires a great deal of focus and commitment. However, the job security and marketability you will possess after you become an auditor will pay dividends for the remainder of your career.