Find schools that offer these popular programs
- Human Resources Development
- Labor and Industrial Relations
- Labor Studies
- Organizational Behavior
Career Definition of a Staff Auditor
A staff auditor is a financial professional who works internally within their own company and is focused on making sure that the company is meeting financial standards and keeping proper financial records. They are responsible for performing risk analysis so that they can predict the possible financial consequences from various choices and decisions in order to help the company make prudent and financially wise decisions. Staff auditors are also responsible for looking at all of the departments within a company and performing cost analyses to make sure that financial resources are being spent effectively, waste is minimized, and all employees are obeying proper business and financial laws and protocols. If a company is mismanaging their funds in some way, either accidentally or on purpose, it is the auditor's responsibility to catch the mismanagement.
Staff auditors may work on a team with other finance-related employees, like accountants and budget analysts, and some may manage employees depending on their specific position. Auditors generally report to members of upper management to share their findings regarding risk management and cost analysis and may provide managers with advice regarding financial decisions and how to run areas of the company in a more cost-effective manner.
|Educational Requirements||Bachelor's degree|
|Job Skills||Mathematical skills, analytical thinking ability, communication skills, attention to detail|
|Median Salary (2017)*||$52,732|
|Job Outlook (2014-2024)**||11% (for all auditors and accountants)|
Sources: *PayScale, **U.S. Bureau of Labor Statistics
To become a staff auditor, you will generally need a bachelor's degree in a field like accounting or finance. Some schools may even offer programs specifically in internal auditing. For some positions, a master's degree in a related discipline may improve your chances of getting hired. Auditors can also seek certification through the Institute of Internal Auditors and become a Certified Internal Auditor (CIA) after passing a four-part exam.
Because auditors spend much of their time analyzing repetitive financial documents, it is important for staff auditors to have a keen attention to detail in order to catch possible mistakes in recorded figures. An auditor's job requires the ability to make sense of hundreds and thousands of numerical figures, so having high-level math skills is key to being successful in this job. It is also important for auditors to have advanced analytical skills in order to solve problems, as well as the ability to communicate well both in writing and through speaking.
Career and Salary Outlook
In 2017, the median annual salary for staff auditors was $52,732 (per PayScale). However, the U.S. Bureau of Labor Statistics reports the top 10% of all accountants and auditors made over $120,910, so it is possible to achieve a higher salary in this field. Factors that could affect your salary level include the size of the company, your seniority level, and the industry in which you work. Between 2014 and 2024, the field of accounting and auditing is expected to grow by 11%, which is faster than the average of 7% for all occupations.
There are a number of other career choices that individuals who are interested in staff auditing positions may want to consider. These careers require some of the same skills and a similar educational background.