Find out the top 10 core skills you need to master as an external auditor and what hard skills you need to know to succeed in this job.
An External Auditor's role is to serve as a self-governing evaluator of the financial records of any organization be it individual, government or any legal entity. This position is relied upon by many business owners who expect the independent and unbiased evaluation of their finances. This auditor is different from internal auditors because they appraise the organizations without an opinion on the financial information they evaluate.
General duties includes preparing and submitting clear and concise audit reports, examining end of the year and interval accounts, conducting departmental reviews and interviewing key staff members about their work practices, collecting and reviewing financial statements and other operational data, evaluating financial risk controls, serving as the primary contact for the audit staff and the client, performing work for different organizations,
Core Skills Required to be an External Auditor
Core skills describe a set of non-technical abilities, knowledge, and understanding that form the basis for successful participation in the workplace. Core skills enable employees to efficiently and professionally navigate the world of work and interact with others, as well as adapt and think critically to solve problems.
Core skills are often tagged onto job descriptions to find or attract employees with specific essential core values that enable the company to remain competitive, build relationships, and improve productivity.
An external auditor should master the following 10 core skills to fulfill her job properly.
Critical Thinking is the ability to think clearly and rationally while understanding the logical connection between ideas in a reflective and independent thinking.
An External Auditor will always seek to determine whether the ideas, arguments and findings do represent the entire picture while identifying, analyzing and solving problems by deducing consequences from what he knows and making use of the information gathered.
Innovation is the process of translating new invention into a service that creates value or brings better solutions that meet the requirements.
An External Auditor ought to introduce innovation in their business to help save time and money giving a competitive advantage to grow and adapt the business in today's marketplace as well as creating more efficient processes and ideas with a likelihood for your business to succeed.
Accuracy refers to the closeness of a measured value to a known value or standard that is passed by the governing laws.
An External Auditor has to always be accurate with figures and data used and required in the office without any guesswork or estimations to facilitate precise and correct information in every department creating an authentic environment that will be respected by the workers.
Supervisory Skills is the ability to lead and manage people effectively in a difficult and challenging atmosphere in the day to day life.
An External Auditor must cultivate, develop and refine management and supervisory skills to strengthen the present as well as build the future of the business by becoming competent in such roles like problem-solving, communication, managing people, time management, leadership, planning, etc.
Appraisal and Evaluation Skills:
Appraisal and Evaluation Skills are services that allow employers to assess their employees? contributions to the organization for the period they have been working with them.
An External Auditor must creatively develop a robust evaluation process that includes the standard evaluation form, approved performance measures, guidelines for presenting feedback and disciplinary procedures to promote staff recognition and rewarding following a fair assessment and appraisal process.
Work Attitude is one's feelings towards and beliefs about one's job and their behavior that can tell how it feels to be there.
An External Auditor ought to encourage his workers and provide all the requirements for the workplace to ensure a positive attitude is maintained by the employees that can help them get a promotion, succeed on projects, meet goals and enjoy the job more.
Personal Relationships is the relationship between individuals who have or have had a continuing relationship of any nature either professional or informal.
An External Auditor reserves the right to take prompt action if an actual or potential conflict of interest arises concerning individuals who engage in a personal relationship that may affect terms and conditions of employment and he should not also date a subordinate.
Deadlines - On time:
Deadlines - On time is the ability to prioritize the important tasks and setting up a plan on how to work on them first to deliver within the set period.
An External Auditor must have the art of managing deadlines by being able to prioritize the work that is set for scheduling to the workers according to how vital the projects are and how soon they need to be executed and submitted.
Knowledge Management is the ability to manage knowledge and information that is presented to the company from different sources without overlooking any of them.
An External Auditor ought to creatively channel all the new information, tools, input, and methodology mean by actively practicing the art of knowledge management within the business by harnessing the organization's inherent wisdom's platform in one place.
Writing Reports and Proposals:
Writing Reports and Proposals is the ability to record business reports and plans for the company or project following the policies and procedures of the company.
An External Auditor should, therefore, emphasize the need and accuracy of these reports and plans to ensure they are delivered promptly, and the details within are accurate adhering to the company's policies and regulations without compromise.
Hard Skills Required to be an External Auditor
Hard skills are job-specific skill sets, or expertise, that are teachable and whose presence can be tested through exams. While core skills are more difficult to quantify and less tangible, hard skills are quantifiable and more defined.
Hard skills are usually listed on an applicant's resume to help recruiters know the applicant's qualifications for the applied position. A recruiter, therefore, needs to review the applicant's resume and education to find out if he/she has the knowledge necessary to get the job done.
An external auditor should have a good command of the following hard skills to succeed in her job.