Financial ServicesISCO 2411

Financial auditor

Financial auditors collect and examine financial data for clients, organisations and companies. They ensure the financial data is properly maintained and free of material misstatements due to error or fraud, that it adds up, and functions legally and effectively. They review lending and credit policies or numbers in databases and documents, evaluate, consult and assist the source of the transaction if necessary. They use their review of the client's financial governance as assurance to give testimony to the shareholders, stakeholders and board of directors of the organisation or company that all is up to par.

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Check yourself in a minute: financial auditor

Rate 5 of the 22 essential skills of this occupation (European ESCO data). No account needed.

control financial resources

interpret financial statements

conduct financial audits

pose questions referring to documents

observe confidentiality

About financial auditor

As a financial auditor, you will be responsible for examining and verifying the accuracy, legality, and effectiveness of financial records for organisations and companies. Your work involves collecting financial data, scrutinising accounting entries, reviewing transactions, and ensuring that financial statements comply with applicable accounting standards and regulations. You will analyse budgets, inspect tax returns, check accounting records, and monitor banking activities to identify any discrepancies or potential fraud.

Your role is essential in providing assurance to shareholders, stakeholders, and boards of directors that an organisation's financial information is reliable and accurate. You will conduct thorough financial audits, prepare detailed audit reports, and communicate your findings to clients and senior management. You will also consult with financial and accounting departments, ask pertinent questions about transactions, and help organisations strengthen their financial controls and governance.

Polish companies and public institutions increasingly require rigorous financial auditing to meet international standards and regulatory requirements. Career prospects are excellent, with opportunities to advance to senior audit roles, specialise in specific industries or audit types, or transition into finance management. The profession offers job security, competitive salaries, and continuous learning opportunities.

Key Work Functions

Core areas of responsibility for a financial auditor.

Financial Data Collection and Examination

Collect and review financial documents, records, and statements from clients
Examine accounting entries and check for errors, inconsistencies, or fraud
Obtain and verify financial information from multiple sources
Analyse transaction data and identify unusual patterns or anomalies

Compliance and Audit Procedures

Conduct comprehensive financial audits according to auditing standards
Review lending and credit policies to ensure compliance with regulations
Monitor banking activities and reconcile accounts
Inspect tax returns and ensure proper tax accounting

Financial Analysis and Interpretation

Conduct financial analysis of accounting records and statements
Interpret financial statements and assess financial position and performance
Evaluate accounting techniques and identify improvements to financial controls
Control financial resources and assess the effectiveness of financial processes

Reporting and Communication

Prepare detailed financial auditing reports with findings and recommendations
Present audit reports to shareholders, stakeholders, and boards of directors
Communicate audit findings and consult with clients on financial governance
Pose questions to clients regarding financial documents and transactions

Audit Planning and Arrangement

Plan and arrange audit schedules and activities
Identify audit scope, objectives, and risk areas
Coordinate with accounting and financial departments

Professional Standards and Confidentiality

Maintain confidentiality and observe data protection and audit standards
Stay updated on accounting standards, corporate law, and audit regulations

Do You Have the Skills for This Role?

Core competency requirements inferred from the occupation's skill profile. Take the free assessment to see how you match.

Must-Have Skills (Advanced)

Sense MakingAdvanced

Problem SolvingAdvanced

Supporting Skills

CommunicationIntermediate

Self ManagementIntermediate

Digital FluencyIntermediate

Transdisciplinary ThinkingIntermediate

Check your gaps

European Skills Framework

Skills and knowledge areas required for this occupation based on European classification.

Essential (22)

accounting department processesaccounting department processesThe different processes, duties, jargon, role in an organisation, and other specificities of the accounting department within an organisation such as bookkeeping, invoices, recording, and taxing.financial department processesfinancial department processesThe different processes, duties, jargon, role in an organisation, and other specificities of the financial department within an organisation. Understanding of financial statements, investments, disclo...economicseconomicsEconomic principles and practices, financial and commodity markets, banking and the analysis of financial data.financial analysisfinancial analysisThe process of assessing the financial possibilities, means, and status of an organisation or individual by analysing financial statements and reports in order to make well informed business or financ...accounting entriesaccounting entriesThe financial transactions recorded in accounting systems or books of a company together with the metadata linked to the entry such as the date, the amount, the accounts affected, and a description of...corporate lawcorporate lawThe legal rules that govern how corporate stakeholders (such as shareholders, employees, directors, consumers, etc) interact with one another, and the responsibilities corporations have to their stake...accountingaccountingThe documentation and processing of data regarding financial activities.control financial resourcescontrol financial resourcesMonitor and control budgets and financial resources providing capable stewardship in company management.interpret financial statementsinterpret financial statementsRead, understand, and interpret the key lines and indicators in financial statements. Extract the most important information from financial statements depending on the needs and integrate this informa...check accounting recordscheck accounting recordsRevise the accounting records of the quarter and year and ensure that the accounting information reflects with accuracy the financial transactions of the company.conduct financial auditsconduct financial auditsEvaluate and monitor the financial health, the operations and financial movements expressed in the financial statements of the company. Revise the financial records to ensure stewardship and governabi...pose questions referring to documentspose questions referring to documentsRevise and formulate questions in regards to documents in general. Investigate about the completeness, confidentiality measures, style of the document, and specific instructions to handle documents.observe confidentialityobserve confidentialityObserve the set of rules establishing the nondisclosure of information except to another authorised person.monitor banking activitiesmonitor banking activitiesSupervise and review banking activities such as lending and other transactions to ensure legality of these actions.present reportspresent reportsDisplay results, statistics and conclusions to an audience in a transparent and straightforward way.develop audit plandevelop audit planDefine all organisational tasks (time, place and order) and develop a checklist concerning the topics to be audited.obtain financial informationobtain financial informationGather information on securities, market conditions, governmental regulations and the financial situation, goals and needs of clients or companies.analyse financial riskanalyse financial riskIdentify and analyse risks that could impact an organisation or individual financially, such as credit and market risks, and propose solutions to cover against those risks.inspect tax returnsinspect tax returnsInspect the documents which declare liability for taxation which is not automatically withheld from wages and salaries to ensure correct taxes are being paid by the liable individuals and organisation...arrange auditarrange auditArrange a systematic examination of books, accounts, documents, and vouchers to ascertain how far the financial statements present a true and fair view, and to ensure that the books of accounts are pr...accounting techniquesaccounting techniquesThe techniques of recording and summarising business and financial transactions and analysing, verifying, and reporting the results.prepare financial auditing reportsprepare financial auditing reportsCompile information on audit findings of financial statements and financial management in order to prepare reports, point out improvement possibilities, and confirm governability.

Optional (37) — show

mergers and acquisitionsmergers and acquisitionsThe process of joining together separate companies and relatively equal in size, and the purchase of a smaller company by a bigger one. The financial deals, the legal implications, and the consolidati...financial productsfinancial productsThe different types of instruments that apply to the management of cash flow that are available on the market, such as shares, bonds, options or funds.international tariffsinternational tariffsThe international tariffs, taxes, or duties that must be paid on a particular class of import or export materials.banking activitiesbanking activitiesThe broad and continuously growing banking activities and financial products managed by banks ranging from personal banking, corporate banking, investment banking, private banking, up to insurance, fo...financial statementsfinancial statementsThe set of financial records disclosing the financial position of a company at the end of a set period or of the accounting year. The financial statements consisting of five parts which are the statem...international financial reporting standardsinternational financial reporting standardsThe set of accounting standards and rules aimed at companies listed in the stock exchange which are required to publish and disclose their financial statements.financial managementfinancial managementThe field of finance that concerns the practical process analysis and tools for designating financial resources. It encompasses the structure of businesses, the investment sources, and the value incre...fraud detectionfraud detectionThe techniques used to identify fraudulous activities.joint venturesjoint venturesThe legal agreement between companies which get together to create a temporary legal entity where they can share knowledge, technology, and other assets aiming at developing new products or services a...core banking softwarecore banking softwareThe selection of software for core banking activities management (e.g. deposits, payments, loans, bank transactions, customer data) and other functions related to banking.internal auditinginternal auditingThe practice of observing, testing, and evaluating in a systematic manner the processes of the organisation in order to improve effectivity, reduce risks, and add value to the organisation by installi...insolvency lawinsolvency lawThe legal rules regulating the incapacity to pay debts when they fall due.national generally accepted accounting principlesnational generally accepted accounting principlesThe accounting standard accepted in a region or country specifying the rules and procedures to disclose financial data.commercial lawcommercial lawThe legal regulations that govern a specific commercial activity.tax legislationtax legislationTax legislation applicable to a specific area of specialisation, such as import tax, government tax, etc.financial jurisdictionfinancial jurisdictionFinancial rules and procedures applicable to a certain location, whose regulatory bodies decide on its jurisdiction.trace financial transactionstrace financial transactionsObserve, track and analyse financial transactions made in companies or in banks. Determine the validity of the transaction and check for suspicious or high-risk transactions in order to avoid mismanag...advise on credit ratingadvise on credit ratingProvide advice on the debtor's ability, be it a government institution or a business, to pay back its debt.advise on tax planningadvise on tax planningAdvise on appropriate strategies to include taxes in the overall financial plan in order to reduce the tax load. Advise on questions related to tax legislation and provide advise on the possible impli...use consulting techniquesuse consulting techniquesAdvise clients in different personal or professional matters.develop financial statistics reportsdevelop financial statistics reportsCreate financial and statistical reports based on collected data which are to be presented to managing bodies of an organisation.maintain records of financial transactionsmaintain records of financial transactionsCollate all the financial transactions done in the daily operations of a business and record them in their respective accounts.evaluate budgetsevaluate budgetsRead budget plans, analyse the expenditures and incomes planned during certain period, and provide judgement on their abidance to the general plans of the company or organism.provide support in financial calculationprovide support in financial calculationProvide colleagues, clients or other parties with financial support for complex files or calculations.advise on financial mattersadvise on financial mattersConsult, advise, and propose solutions with regards to financial management such as acquiring new assets, incurring in investments, and tax efficiency methods.follow the statutory obligationsfollow the statutory obligationsUnderstand, abide by, and apply the statutory obligations of the company in the daily performance of the job.identify accounting errorsidentify accounting errorsTrace accounts, revise the accuracy of the records, and determine the faults in order to solve them.analyse financial performance of a companyanalyse financial performance of a companyAnalyse the performance of the company in financial matters in order to identify improvement actions that could increase profit, based on accounts, records, financial statements and external informati...liaise with shareholdersliaise with shareholdersCommunicate and serve as communication point with shareholders in order to provide an overview on their investments, returns, and long-term plans of the company to increase profitability.maintain trustsmaintain trustsHandle the money meant for investing into a trust and ensure it is placed into the trust, as well as ensure that the due outgoing payments are made to the beneficiaries compliant with the terms of the...ensure compliance with accounting conventionsensure compliance with accounting conventionsExercise accounting management and abidance by generally accepted accounting conventions such as recording transactions at the current price, quantifying goods, separating personal accounts of manager...ensure compliance with disclosure criteria of accounting informationensure compliance with disclosure criteria of accounting informationRevise the accounting information of the company to make sure it meets the commonly agreed criteria for its disclosure such as understandability, relevance, consistency, comparability, reliability, an...identify if a company is a going concernidentify if a company is a going concernAnalyse financial statements, financial information and the outlook of the company in order to determine the going concern of the company.make strategic business decisionsmake strategic business decisionsAnalyse business information and consult directors for decision making purposes in a varied array of aspects affecting the prospect, productivity and sustainable operation of a company. Consider the o...maintain financial recordsmaintain financial recordsKeep track of and finalise all formal documents representing the financial transactions of a business or project.produce statistical financial recordsproduce statistical financial recordsReview and analyse individual and company financial data in order to produce statistical reports or records.disseminate information on tax legislationdisseminate information on tax legislationProvide advise on the possible implications for companies or individuals on decisions regarding tax declaration based on tax legislation. Advise on the favourable tax strategies that could be followed...

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Frequently asked questions

What does a financial auditor do?

What skills does a financial auditor need?

A financial auditor needs 22 essential skills, including accounting department processes, financial department processes, economics, financial analysis, accounting entries.

Will AI replace financial auditor jobs?

The AI disruption score for financial auditor is 71/100 (high risk). Skills most exposed to automation: accounting entries, accounting, inspect tax returns. Most resilient: make strategic business decisions, use consulting techniques, liaise with shareholders.

AI Replacement Risk

71/ 100

High Risk

Low riskHigh risk

Skills most at risk from AI

accounting entries accounting inspect tax returns

Skills resilient to automation

make strategic business decisions use consulting techniques liaise with shareholders

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Quick Facts

SectorFinancial Services

ISCO GroupBusiness and administration professionals

Essential Skills22

Core Skills6

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