Everything you need to know about becoming an auditor

Clement Manyathela speaks to auditors about what people need to know about the demanding but highly sought out profession.

FILE: Picture: pixabay.

Auditors are one of the country's most sought after professionals. Though demand for them is high, qualified auditors are listed amongst the country's scarcest skill sets. Here's all you need to know about the often challenging profession.

The chief responsibility of auditors is to evaluate and review the finances of a company to make sure that everything makes financial sense, is credible and runs smoothly.

As such, they are hired to review and verify the accuracy of that company's financial records and statements to make sure that no funny business is happening and that their financial actions are legitimate.

Because of this, auditors can work independently and be hired by companies on a freelance basis, something that is sometimes preferable because it lessens the element of bias.

There are four types of auditors: internal auditors (auditors who work within a company), external auditors (independent auditors hired on a freelance basis), government auditors (auditors in charge of making sure the financial actions of institutions are properly accounted for as per regulatory requirements) and forensic auditors (auditors hired to find evidence of the financial malpractices of a company or institution).

To be an auditor, having analytical, numerical, communication and organisational skills are key skills to have in order to navigate and thrive in the competitive industry.

In order for one to become an auditor, one needs to first become a charted accountant, so pursuing a degree in accounting is a key requirement. A bachelors' degree would more likely get you a junior level post, whereas a post-graduate degree is vital for more senior positions.

As such, here is a list of recommended degrees to study:

• B.Com (Bachelor of Commerce) in Auditing
• B.Com in Taxation
• B.Com Honours in Direct and Indirect Taxation
• B.Com in Accounting and Taxation
• B.Com in Tax Procedure and Practice
• MBA (Master of Business Administration) in Banking and Taxation
• MBA in Finance
• M.Com (Master of Commerce) in Accounting and Auditing
• M.Com in Accounting and Taxation
• M.Com in Taxation

This article first appeared on 702 : Everything you need to know about becoming an auditor