When it comes to the complicated process of filing taxes or preparing expenses there are often accidental mistakes or purposeful attempts to hide money from payment, an external comes in as an impartial way to analyze the issue and get it fixed to ensure all necessary funds and all guilty parties are brought to justice.
How to Become a Successful External Auditor?
A strong background in finance is a must for this career and educational requirements are high due to the incredibly complicated nature of the work. A minimum of a bachelor’s is required by most employers in a field of accounting or finance, and a master’s will be especially helpful.
Once you are hired you will likely begin work on a team that works for a company that hires out its services, and the most important thing to remember will be that your primary job is to be neutral no matter what the situation is, so you can give fair judgment of the situation.
After you begin working on your own you will likely begin to see more situations that you must evaluate independently, and as finances are involved you are required to be confidential so that no information is leaked as otherwise information could be stolen and money and identities could be stolen as well.
Being fair and balanced is key to this position, as you will need to make sure that no one gets any special kind of privilege. External auditors are hired so that there is no bias or attempt to hide the wrongdoing, and to ensure that anyone who does anything illegal is found and faces punishment.
The Best External Auditor Resume Samples
These are some examples of job descriptions we have handpicked from real Auditor resumes for your reference.
- Participated in inventory observation with the audit team and verified inventory numbers in chemical warehouse.
- Assisted with verification of bank account balance, gathering bank confirmations and checking the correctness of bank reconciliation statements.
- Examined interest rates of short-term loans and analyzed their rationality.
- Conducted audit planning, fieldwork, and completion of all audit work through coordination of client deliverables.
- Solid Understanding and experience with US GAAP, US GAAS, and PCAOB/AICPA auditing standards.
- Worked on eight year end audits as well as multiple quarterly reviews for clients such as Global Foundries, Flextronics, Safeway, Array Networks, and Elementum.
- Performed detailed analytical procedures over all significant financial statement fluctuations.
- Reviewed and analyzed the design and implementation of client internal controls over financial reporting, identify issues, and involved in making recommendations to management.
- Determined allowable production costs and confirmed contractual obligations with Business Affairs.
- Presented and discussed findings with producers and network management to arrive at settlement.
- Prepared written audit reports distributed to producers and network management.
- Acquired further understanding of the entertainment industry and production practices to include: guild rules and regulations, License Agreements, Business Affairs negotiations, differences in studio practices, production of pilots, episodic television, co-productions and made for television movies.
- Coordinated and requested financial records and material the client needs to provide.
- Completed audit work paper by documenting audit tests and findings.
- Checked up accuracy and reliability of financial reports and records.
- Assessed risks and internal controls by identifying areas of non-compliance.
- Planned and conducted audit for Escrow Companies to ensure financial statements are fairly presented in compliance with GAAP and the Department of Business Oversight requirements.
- Audited and tested journals, invoices, payroll, fixed assets, trust accounts, trust files, etc.
- Produced audit reports to express opinions according to audits performed.
- Examine accounting records and documents of program suppliers to verify compliance with financial and operational requirements including: process mapping, risk and control identification, audit text and design execution, audit documentation and report writing.
- Interface with show accountants to ensure financial compliance and adherence to proper checks and balances.
- Present audit findings and recommendations to senior management.
- Prepare all supporting schedules that are incorporated into an audit report.
- Prepare audit processes including “Planning, Implementing, Reporting and Following”.
- Guide administrators in audited entities through providing legal information and best practices.
- Calculating materiality level and applying sample methods to mitigate corruption and fraud risks.
- Conduct investigations upon finding misstatements and unethical practices including corruption, frauds and bribery.
- Hired at the start of busy season to provide administrative support to a small client, able to quickly develop auditing skills with minimal training.
- Rotated across several clients and helped with the firm’s 2012 top prioritized advisory project in their compliance business.
- Performed roll forward testing, tied out financial statements, reevaluated documentation for SOX testing, and prepared outsourcing guidelines to third party administrative support.
- Conducted Asset Valuation Reserves (AVR) and Interest Maintenance Reserves (IMR) testing, tested various financial statement line items related to investments, and performed testing for balance sheet line items for client’s nonprofit subsidiary.
- Recognize the relevant assertions related to the testing involved with purchases and sales of investment transactions in both hedge funds and private equity funds.
- Tested the validity of purchase/sale of investments and examined relevant support for each selection made.
- Separately tested significant areas of audit interest, and made inquiries of areas susceptible to possible fraud.
- Determine audit resources needed to complete audit and determine timeline for the completion of audits.
- Manage audit budgets and ensure that audits are completed on time and on budget.
- Ensure that financials information presented is in compliance with GAAP and ensure that audit documentation provides a reasonable basis for the auditor opinion.
- Communicate with both client’s management & firm management the status of the audit engagement and provide solutions for audit issues as they arise.
- Entrusted to simultaneously plan, guide and supervise non-profit and governmental financial audit engagements.
- Performed substantive testing, analytical procedures, audit walkthroughs and employee interviews to obtain understanding of client environment, assess risk of material misstatement, formulate opinion and, finally, draft the financial statement for the clients.
- Conducted single audits for nonprofit and local governmental organizations which receive federal grants by examining and testing the recipient’s financial records, federal award expenditures and operations to verify the recipient complies with laws and regulations of the federal agency providing the funds.
- Documented each stage of the audit in a clear and effective way so partners can review work-papers efficiently.
- Conduct audit interviews, test internal controls, and conduct risk assessment analysis on business unit and account levels.
- Develop and execute audit tests, and plan audit engagements relative to the adequacy and effectiveness of compliance, internal controls, and risk management.
- Prepare audit work papers, PBC lists, recommend corrective actions, and present findings to management and executives verbally and in writing.
- Prepare Financial Statements, management representation letters, engagements letters and audit programs.