Why The Role Of Audit Manager Is Increasingly Challenging

Audit manager positions carry a great weight of responsibility, especially when you consider the potential consequences if a serious anomaly should be missed. This has always been the case, but it is now even more so thanks to the recent scandals which have brought to a head the need to have clean and open accounting. The auditing process has changed as a result of these incidents, with more emphasis being put on analyzing internal procedures. This has proven to be the best way not only to find serious faults and discrepancies, but also for being able to recommend possible improvements.

The history of auditing shows a consistent progression in the way the checks are carried out. From a simple one or two man operation looking at simple company accounts, through the introduction of corporate money to the more complex business structures of today. In the past, there was rarely an individual who could be deemed the manager of the audit, but more likely the person running the small firm which was carrying it out.

Modern audits are different in character for several reasons, not the least of these being the complexity of the organizations being audited. As ever, it takes an incident which rocks an industry to really facilitate change, and this certainly happened in the auditing industry thanks to the massive Enron scandal. Auditors and accounting firms are now filled with fear after one of the five largest firms in the world had their license revoked. Managing an auditing firm is now a high pressure job, with the company hiring you expecting you to show them in a good light, and the public demanding that you be objective and truthful.

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The role of audit manager can involve the regular carrying out of audits on other organizations, if you are working for an accounting firm, or it can mean carrying out comprehensive audits within your own company. Many extremely large companies employ people specifically to audit financial information or processes within the company, so that data can be fed back to managers allowing them to make specific choices. These internal auditing systems are now being copied by many external auditing operations, as they have proven so effective at uncovering anomalies.

The audit manager role is extremely challenging, and represents the peak of a career which is difficult to enter, but not impossible. You will need a formal qualification to operate at any level of the accounting industry, but that means that those who have the qualification are able to compete with fewer other candidates. Take an accounting course which gives a recognized qualification, and you will have a career for life. If you have current commitments, you can study online to work around them. Eventually, you could find yourself in the role of audit manager.

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