Profession financial auditor

Financial auditors collect and examine financial data for clients, organisations and companies. They ensure the financial data is properly maintained and free of material misstatements due to error or fraud, that it adds up, and functions legally and effectively. They review lending and credit policies or numbers in databases and documents, evaluate, consult and assist the source of the transaction if necessary. They use their review of the client's financial governance as assurance to give testimony to the shareholders, stakeholders and board of directors of the organisation or company that all is up to par.

Personality Type

• Conventional / Enterprising

Knowledge

• Financial analysis

  The process of assessing the financial possibilities, means, and status of an organisation or individual by analysing financial statements and reports in order to make well informed business or financial decisions.

• Accounting techniques

  The techniques of recording and summarising business and financial transactions and analysing, verifying, and reporting the results.

• Economics

  Economic principles and practices, financial and commodity markets, banking and the analysis of financial data.

• Accounting department processes

  The different processes, duties, jargon, role in an organisation, and other specificities of the accounting department within an organisation such as bookkeeping, invoices, recording, and taxing.

• Accounting

  The documentation and processing of data regarding financial activities.

• Corporate law

  The legal rules that govern how corporate stakeholders (such as shareholders, employees, directors, consumers, etc) interact with one another, and the responsibilities corporations have to their stakeholders.

• Financial department processes

  The different processes, duties, jargon, role in an organisation, and other specificities of the financial department within an organisation. Understanding of financial statements, investments, disclosing policies, etc.

• Accounting entries

  The financial transactions recorded in accounting systems or books of a company together with the metadata linked to the entry such as the date, the amount, the accounts affected, and a description of the transaction.

Skills

• Monitor banking activities

  Supervise and review banking activities such as lending and other transactions to ensure legality of these actions.

• Interpret financial statements

  Read, understand, and interpret the key lines and indicators in financial statements. Extract the most important information from financial statements depending on the needs and integrate this information in the development of the department's plans.

• Pose questions referring to documents

  Revise and formulate questions in regards to documents in general. Investigate about the completeness, confidentiality measures, style of the document, and specific instructions to handle documents.

• Present reports

  Display results, statistics and conclusions to an audience in a transparent and straightforward way.

• Arrange audit

  Arrange a systematic examination of books, accounts, documents, and vouchers to ascertain how far the financial statements present a true and fair view, and to ensure that the books of accounts are properly maintained as required by law.

• Obtain financial information

  Gather information on securities, market conditions, governmental regulations and the financial situation, goals and needs of clients or companies.

• Control financial resources

  Monitor and control budgets and financial resources providing capable stewardship in company management.

• Inspect tax returns

  Inspect the documents which declare liability for taxation which is not automatically withheld from wages and salaries to ensure correct taxes are being paid by the liable individuals and organisations.

• Analyse financial risk

  Identify and analyse risks that could impact an organisation or individual financially, such as credit and market risks, and propose solutions to cover against those risks.

• Prepare financial auditing reports

  Compile information on audit findings of financial statements and financial management in order to prepare reports, point out improvement possibilities, and confirm governability.

• Conduct financial audits

  Evaluate and monitor the financial health, the operations and financial movements expressed in the financial statements of the company. Revise the financial records to ensure stewardship and governability.

• Observe confidentiality

  Observe the set of rules establishing the nondisclosure of information except to another authorised person.

• Develop audit plan

  Define all organisational tasks (time, place and order) and develop a checklist concerning the topics to be audited.

• Check accounting records

  Revise the accounting records of the quarter and year and ensure that the accounting information reflects with accuracy the financial transactions of the company.

Optional knowledge and skills

Source: Sisyphus ODB