What is an auditor? What is the role?

23/05/2024

Auditor is like the “doctor” of the business, responsible for checking the accuracy, completeness, and reliability of financial information. Especially the financial statements To express opinions to information users such as investors, creditors, executives, etc. that financial information is Reflect the financial status Performance and cash flow of the business correctly according to accounting principles or not

The main duties of the auditor include:

Plan an inspection: Business risk analysis Determine appropriate scope and inspection methods.
Test internal controls: Evaluate the efficiency of the business's internal control systems. To consider whether errors can be prevented and detected or not.
Verify transactions: Check documents, evidence, and accounting records to ensure they are correct, complete, and consistent with evidence. and accounting principles or not
Risk analysis: Assess risks that may affect the financial statements, such as risks from fraud. Risks from economic conditions, etc.
Write an inspection report: Summary of inspection results Identify shortcomings, errors, and express opinions to data users.

Qualities of a good auditor

Knowledge and understanding of accounting principles: Auditors must have knowledge and understanding of accounting principles. accounting standards and related laws
Analytical skills: Auditors must have data analysis skills. to find errors, corruption, or irregularities
Honesty: Auditors must be honest, transparent and adhere to professional ethics.
Independence: The auditor must be independent from the auditing organization. To express opinions objectively
Communication skills: Auditors must have good communication skills. To explain the results of the inspection to stakeholders to understand.

Types of auditing

Auditing according to auditing standards: Done by a licensed auditor. To express opinions to general information users
Internal audit: Done by the organization's internal audit department. To evaluate the efficiency of the internal control system and report to management
Special inspection: Follow a specific purpose, such as investigating to find corruption. Inspection to evaluate business value, etc.

The role of the auditor

Build confidence among data users: Helps data users be confident that the business's financial information is accurate and reliable.
Promote good governance: Helps businesses operate in a transparent, verifiable manner.
Prevent and detect corruption: Helps businesses reduce the risk of corruption.
Promote business development: Suggesting guidelines for businesses Improve the internal control system Develop an accounting system

Occupation Auditor

People who want to pursue a career as an auditor Must have the following qualifications:

Graduated with a bachelor's degree in accounting, finance, accounting and finance. or related fields
Passed the knowledge and ability test (CPA Exam) of the Federation of Accounting Professions.
3 years of work experience training under the supervision of a certified public accountant.
Apply for a professional accounting license from the Federation of Accounting Professions.

Benefits of having Auditor

Having an auditor has the following benefits for the organization:

Create confidence among stakeholders: Stakeholders such as investors, creditors, customers, and employees will have more confidence in the organization's financial information.
Help prevent corruption: Having an auditor helps prevent corruption in the organization.
Help improve accounting and internal control systems.: The auditor may suggest ways to improve the organization's accounting system and internal controls.
Helps increase operational efficiency: Having a good accounting and internal control system. It will help increase the efficiency of the organization's operations.
Help create a good image for the organization.: Having a famous auditor helps create a good image for the organization.

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