UK Accounting Glossary
An auditor is an individual qualified at the state level to perform financial and accounting audits. An auditor examines, corrects and verifies the accuracy of financial accounts related to businesses, non-profit organizations and government agencies. The auditor is expected to perform an unbiased evaluation. An auditor can be an internal employee or an external consultant. There is also the IRS auditor, who conducts an inspection of a taxpayer’s return or other related transactions to verify accuracy. An IRS auditor conducts three major types of audits: correspondence, office and field. Because there is always the chance of an auditor showing up at the door, it is recommended that good records are kept to support all data contained within a return. An auditor may also perform an array of additional services such as budget analysis, financial and investment planning, some legal services and technology consulting. Often an auditor is required to have at least a bachelor’s degree in accounting, business administration or another related field.
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This glossary post was last updated: 4th February 2020.