Top Areas of Auditor Specialization
Auditors can help organizations manage all kinds of risks.
When you think about it, it makes sense that the word audit shares a direct root with the word auditory. After all, what is an audit if not a hearing, revealing the facts of a matter. While most audits don’t actually involve a trial, they do require plenty of investigation and an ability to report findings in clear and accurate detail. That’s why professional auditors are so valuable to both public and private organizations. It’s one of the few professions with the necessary skills to get to the heart of important yet complex matters.
In fact, the skills of auditors are so valuable, the profession has become increasingly specialized. Of the many auditing specializations, the most common and in-demand include:
Operational and Financial Risk
Organizations that fail to properly plan rarely enjoy long-term success. But planning isn’t just about establishing goals and developing strategies. It’s also about understanding where your organization may be vulnerable to competition or market/financial changes. Auditors who specialize in operational and financial risk investigate the underpinnings of an organization, analyzing such areas as credit, market, liquidity, reputation, technology, and legality. When they find a vulnerability, they can help the organization implement techniques to improve its risk management and avoid complications that could derail an organization’s plans.
Whether it’s a financial organization that must comply with SEC filing regulations or a medical organization that must comply with HIPPA and ACA regulations, every business has to follow requirements put in place by legislatures and regulatory boards. Auditors who specialize in regulatory compliance monitor/investigate the ways organizations comply with the rules that govern their industries. These auditors not only make sure an organization is meeting requirements, they make sure an organization’s system of compliance practices is efficient and transparent.
Fraud can significantly—even fatally—damage an organization’s finances and standing within the marketplace. Auditors specializing in fraud investigate an organization’s books, accounts, and financial documents, using forensic techniques to uncover red flags of fraud, such as the development of false financial statements, misuse of corporate resources, and false revenue recognition. Fraud auditors can help organizations root out fraud and implement policies and procedures designed to protect against it. They can also work for law enforcement and regulatory agencies that investigate criminal fraud.
In a digital world of servers and global connection, every organization must take precautions to protect its private data from hackers. Auditors specializing in information security analyze management structures, information security processes, the security of supply chains, and compliance with security regulations to help ensure organizations maintain appropriate information security.
How to Become an Auditor With Specialized Skills
If you’re wondering “how do I become an auditor,” the answer may be to earn a graduate certificate in auditing. Unlike a multi-year auditing degree program, a certificate program can provide you graduate degree-level knowledge in as few as four courses. It’s an excellent way to advance your skills and gain important knowledge about the specialized fields within the auditing profession.
Another advantage to graduate certificates is that many of the best are available through online education. With an online certificate program, you don’t have to worry about driving to a campus or disrupting your daily life. Instead, online certification programs give you the power to learn from home and on a flexible platform designed for working adults.
The world of auditing is increasingly expansive and important. If you’re interested in going into or advancing a career in auditing, earning an auditing degree online through a graduate certificate program can put you in position to succeed.
Walden University is an accredited institution offering a graduate certificate in auditing program online. Expand your career options and earn your degree in a convenient, flexible format that fits your busy life.
Walden University is accredited by The Higher Learning Commission, www.hlcommission.org.