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The Auditor Will Work With Various Companies and Corporations to Assure Financial Compliance as Well

The Auditor Will Work With Various Companies and Corporations to Assure Financial Compliance as Well

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Published by Ashutosh Singh

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Published by: Ashutosh Singh on Nov 29, 2010
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05/12/2014

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The auditor will work with various companies and corporations to assure financial compliance as well.The following will provide an overview as to the general responsibilities and specific duties of which anauditor must undertake in his job. Although these are not all of the tasks which every auditor mustcomplete in their daily job role, they are some of the more frequently accomplished ones.
What Is An Auditor?
 
I
t is important to first discuss what in fact an auditor is and the role that they play. An auditor is anindividual who will analyze accounting records through strict examination thereof in order todetermine the current financial status of a company or corporation. After doing so, the auditor mustthen prepare the necessary reports which state the findings about the financial status of the entity.
Ge
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ral R 
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sponsibiliti
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s of an Auditor
 
The general responsibilities of an auditor all relate to ensuring financial compliance. The auditor willcollect and examine financial records to ensure that they are current and to make sure that the
 
entities abide by pertinent laws and regulations with regard to their finances. The auditor will alsointerview employees and managers of companies and corporations to determine that their statementsmatch up with the financial records of the company.
I
n addition, the auditor is responsible forpreparing reports relating to their findings with regard to the financial stability of the company andproper accounting procedures. The auditor will also answer any questions directed towards them withregard to their findings.
S
p
ec
ifi
c
Duti
e
s of an Auditor
 
 
U
nder the general responsibilities listed above, the auditor will have further specific duties which their job entails them to complete on a daily basis. These specific duties will vary from auditor to auditorhowever many individuals with this job will perform some if not all of the specific duties listed below.
 
One specific duty of an auditor in their daily job routines is to examine company financial records.
I
ndoing so, the auditor will be looking to ensure that the company is abiding by laws and regulations,keeping their books in order, checking into insurance and unemployment coverage, examinetaxdocuments and determine if the objectives of the company are being actively pursued. These are just some of the many examinations which take place by the auditor.The auditor will also interview employees and supervisors of the company. The reason for doing so isto ensure that the company¶s goals are being realized, the employees and supervisors are accuratelyfilling out financial information and determine that regulatory requirements are being met. Byinterviewing these individuals, the auditor can fill in the blanks to determine what is missing in thefinancial records themselves.An auditor is also responsible for completing numerous financial reports and charts. These reportsandcharts will detail the findings by the auditor and put the results in a nice neat package for interestedparties in the audit to review. The reports which will need to be completed vary from entity to entitybut the auditor certainly has their work cut out for them with regard to recording findings.The auditor will also need to address any issues regarding the findings that they discovered duringtheir audit. These issues will be discussed by the auditor and numerous parties involved in the auditprocess such as superiors of the company. The auditor will need to detail anything not included withthe charts and paperwork as well as answer further questions relating to the findings.
B
e
n
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fi
c
ial Traits for an Auditor to Poss
e
ss
 
An auditor has a very important role to fill in their profession. They must possess certain traits inorder to do their jobs to the best of their ability. Having these traits will allow them to pursue financialanswers while investigating companies and corporations trying to uncover such answers.One trait which all auditors should possess is preciseness. An auditor must go overfinancialdocuments with a fine toothcomb and the results that they pull up must be of such a conditionthat they are as exact as can be. An auditor cannot be lazy in their job role as a few wrong numberscan throw the whole financial accuracy of the audit off. Therefore, preciseness is an important trait forauditors to possess.

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