Auditor

An auditor has the responsibility to check the accuracy and sometimes attest to the accuracy of business records. Those records are usually business records, but could be municipal records also, or any type of financial records. An auditor’s word is sought when records are being challenged for honesty.

Auditors form opinions based on sufficient, competent material that is relevant to the auditor’s aim.

An auditor can be self-employed or with a company, or be on retainer with a company or work for the government.

Auditors can work alone or in a team and report their findings to larger groups. They may also work strictly with individual clients. The hours are typical business hours, but may extend far beyond that because of special projects that occur, or because of certain business or other deadlines that require comprehensive work reports.

A bachelor’s degree in accounting is required to be an auditor, and a master’s degree in accounting makes one even more desirable in the auditor job market. Obtaining both those degrees would make one eligible for a CPA (certified public accountant) exam, which some employers who are looking for auditors also require.

Auditors must be self-motivated, tenacious, good problem solvers, good communicators, and not mind staying with a particular task for a long time, as it sometimes takes a lot of patience and endurance to piece together various information in order to attest to the accuracy of records.

As an Auditor with 6-9 years of experience in Singapore, your main responsibilities include:

• Conducting detailed financial audits to ensure compliance with accounting standards and applicable laws. You will thoroughly examine financial records, statements, and transactions to verify accuracy and detect fraudulent activities or irregularities.
• Assessing internal control systems and making recommendations for improvement. You will evaluate the effectiveness of internal control measures implemented by the organization and suggest enhancements to mitigate risks and improve operational efficiency.
• Collaborating with management to develop risk assessment strategies and implement corrective actions. You will work closely with management to identify potential risks and develop strategies to manage and mitigate them, ensuring the organization operates within acceptable risk limits.
• Preparing comprehensive audit reports, including findings, recommendations, and action plans.

For an Auditor job role, the following qualifications are required:

• In-depth knowledge of auditing principles and practices, including accounting standards, financial reporting, and regulatory compliance.
• Strong analytical skills to effectively evaluate financial statements, identify risks, and detect potential discrepancies or irregularities.
• Excellent attention to detail and accuracy in reviewing financial data, documents, and records to ensure compliance and identify any audit issues.
• Strong communication skills to effectively communicate findings, recommendations, and audit results to stakeholders, both verbally and in writing.

The role of an Auditor is crucial in ensuring financial integrity and compliance. With 6-9 years of experience in Singapore, here are following alternative roles to explore:

• Internal Auditor: This role involves evaluating and improving internal controls, identifying risks, and providing recommendations for process enhancements.
• Compliance Manager: A position focused on ensuring adherence to regulatory requirements, developing policies and procedures, and conducting internal audits.
• Risk Manager: A role dedicated to identifying and mitigating risks across the organization, implementing risk management strategies, and monitoring risk exposure.
• Financial Controller: This position involves overseeing financial operations, preparing financial statements, implementing accounting systems, and managing budgets.

The role of an Auditor in Singapore is expected to witness strong growth in the market. Over the past 10 years, there has been a steady increase in demand for auditors due to tightening regulations and the need for greater financial transparency. As per the latest data points available, the employment opportunities for auditors in Singapore are projected to continue growing in the future. With the rising complexity of financial systems and increased scrutiny on compliance, companies are increasingly seeking qualified auditors. This trend is likely to create ample employment prospects for individuals pursuing a career in auditing in Singapore.