Auditing is more than just monitoring different figures. It is all about the ability to understand the client’s way of thinking and working capacity with the use of skills in social and analyzing. However, accountants must first build and acquire work experience as junior auditors before they become an audit partner or manager. Auditors learn crucial skills in their particular field such as teamwork, financial analysis and client relations within their working years as junior auditors.
What is a junior auditor?
Junior accountant is an entry-level work that is under the direct supervision of a higher level accountant or otherwise known as senior accountant. A junior auditor performs various tests in financial data. They work with the client’s employees and financial director of a certain company. They also have a huge opportunity in working with a great number of large companies, perhaps as many as twenty or more in a given year.
Duties of a junior accountant
- Junior auditors are tasked to plan audits, review internal controls, conduct audit tests and prepare financial reports using United States Generally Accepted Accounting Principles or the GAAP and International Financial Reporting Standards or the IFRS.
- Junior auditors may also put together status reports and internal communications.
- They are also tasked to document audited issues, write audit reports and follow up some of the outstanding audit issues and audit tasks.
- Their works include an organized appraisal with financial records, control managements, practices, policies and reports. They may also analyze contracts, investigate claims and validate vital financial documents and records.
- Junior accountants work under the close supervision of a senior accountant.
Conditions of Work
- Most junior accountants work in the office. According to the U.S Bureau of Labor Statistics or BLS, a junior accountant has an average salary of $59,430 per annum.
- Junior accountants are required to be well versed with a good profile that would help ensure that their specific work is profitable to the company.
Educational Requirements
- The basic educational requirement to become a junior auditor is to accomplish a bachelor’s degree in finance or accounting. Even though a career as a junior auditor is an entry-level role, some employers prefer to hire candidates with a minimum of 1 year accounting experience.
- Candidates should also take courses which cover on proper preparation of financial statements, auditing, cost accounting, managerial accounting, statistics, taxation and strategic management.
Occupation and Progress
- As junior auditors assume senior roles and continually progress in their accounting careers, they can then apply as a CPA or certified public accountant jobs through their respective board of accountancy in their state.
- According to the US Bureau of Labor and Statistics, job outlooks in the arena of accounting are favorable beginning on the year 2008 up to 2018 decade.