The job is essentially corporate oriented. As suggested by the terminology, the job involves handling and dealing with numerical facts and figures.
To all intents and purpose, an income auditor is supposed to help the management, departmental and divisional heads with regard to the deals and details of an enterprise’s financial statement. Assessing and evaluating the accuracy of such statements are the guiding perspectives of his job. Keeping these in mind; the job requires:
- Maintenance and updating of financial statements, and data relevant to the same.
- Maintenance of accounting reports.
- First and foremost, he has to be thorough about the accounting principles of the concern which has appointed him.
- The management of financial details has to conform to the established guidelines of accounting. So, checking out and evaluating them Vis a Vis the set standards are some of the necessary aspects of his responsibility.
- He/she has to make sure that the revenue generated or the income earned is lawfully backed up.
- Reviewing of information relevant to the revenue generation is another of his duty.
- Re-computing and maintaining the database relevant to income generation includes the facet of his responsibility.
- The most important aspect of his responsibility ensures the prospect of assessment, whereby he is supposed to certify the correctness of the data inputted.
- Depending upon the needs of an enterprise, he may be expected to offer tips and suggestion regarding the efficacy of data management.
- He may also be expected to develop improvised norms and methods of income/revenue reporting.
- Ensures that the procedural norms are duly followed and smoothly handled.
- Needs to be a good assessor
- Skills in interacting, communicating and convincing.
- Being skilful in the deals of calculation and that of accounting is one of the obvious inputs
- Needs to be logically oriented with a focus on details.
- Needs to be particularly methodical, as he cannot afford to mess around with deals, data and documents.
An income auditor’s is a desk bound job of comfort and convenience. The work schedules are pretty regular. During the period of financial closure, he may need to overstay. Otherwise, the working hours follow a fixed schedule of standardized regularity. Touring and travelling for gaining enhanced insights into the procedural norms of accounting or that of income reporting comes as an additional incentive.
The requirements pertaining to qualification generally depends on the designation and supervisory power of the given job. In order to succeed at the senior level, one may need to complete post graduation. In general, graduation level education with specialization in the following streams may be enough for satisfying the requirements at the junior level. Specialization is necessary in:
Undergoing associate or certification program can always improve the prospect of employment. CIA & IIA are some of the illustrations of such certificate programs.
Tips for the job
- Advancement of knowledge by way of enrolment in degree programs can hasten growth and expansion.
- Attending seminars and conventions can also spruce up his professional skills.
- Enrollment in the programs relevant to professional auditing is another step of enhancement.