Auditors

Auditors are professionals who examine financial records, statements, and related information to form an assessment of whether the information presented is fair, accurate, and in compliance with applicable standards and regulations. They also evaluate the effectiveness of internal controls and governance processes that help manage risk and ensure accountability.

There are several types of auditors. External auditors, often CPAs, provide independent assurance on the fairness of financial statements for shareholders, lenders, or regulators. Internal auditors are employed by the organization to assess risk management, control environment, and governance, and to improve operations. Government or public sector auditors review the use of public funds and compliance with laws and regulations. Forensic auditors specialize in detecting and investigating fraud and financial irregularities, often for legal proceedings or asset recovery. Information systems or IT auditors assess the controls and integrity of computer systems that support financial reporting.

The audit process generally includes planning, gathering sufficient and appropriate audit evidence, testing transactions and controls, evaluating findings, and forming a conclusion. Auditors apply relevant auditing standards, such as generally accepted auditing standards or international standards, and maintain independence and professional skepticism. Materiality and risk assessment guide the scope and depth of procedures, including the use of sampling and analytical procedures. The result is an audit report that expresses an opinion on whether the financial statements present a true and fair view, with variations such as unqualified, qualified, adverse, or disclaimer opinions.

Qualifications typically include professional certifications (for example, CPA, CA, CIA) and ongoing continuing education. Auditors contribute to financial accountability, corporate governance, and investor confidence by providing independent assurance and identifying areas for improvement.