Everything you need to know about the financial auditor profession: studies, salary, missions
The financial auditor profession offers the opportunity to analyze various projects and strengthen your skills in rigor, risk management, and financial analysis. Discover here how to become a financial auditor, the responsibilities of this profession, and the career paths and salaries available.
Discover our M.SC In Audit & Management Control program to become a Financial Auditor
What is a financial auditor?
Definition and main role of the financial auditor
A financial auditor is an expert responsible for examining a company's financial health by analyzing its accounts and accounting processes. Their primary role is to verify that financial statements comply with applicable standards, identify potential anomalies, and make recommendations to improve the transparency and reliability of financial information. They work in both external audits, within specialized firms, and internal audits, directly within companies, to optimize their management and limit financial risks.
The different types of financial auditors
There are several types of financial auditors, depending on their role and work environment:
External auditor : works with client companies to verify the compliance of their accounts with accounting and regulatory standards. They carry out ad hoc and independent missions.
Internal auditor : An employee of a company, they continuously analyze financial and operational processes in order to optimize risk management, improve the effectiveness of internal controls and prevent possible fraud or accounting errors.
Statutory auditor (commissaire aux comptes - CAC) : This auditor is mandated by law to certify the accounts of companies exceeding certain financial thresholds. Their role is to attest to the regularity and sincerity of the financial statements, ensuring their compliance with legal obligations.
IT Financial Auditor : Specializing in information systems, he assesses the risks associated with digital tools used in a company's financial management and verifies the reliability of the accounting and financial data stored on these systems.
Compliance and regulatory auditor : They ensure that the company complies with current regulations (such as GDPR, Basel III for banks or Solvency II for insurance) and adapt their practices accordingly.
What are the duties of a financial auditor?
Analyze and verify the compliance of financial statements
The auditor examines a company's accounts to ensure they accurately reflect its financial position. They verify their compliance with current accounting and regulatory standards (IFRS, French standards, US GAAP, etc.), detect any anomalies, errors, or fraud, and assess financial risks.
Formulate recommendations and improve processes
Beyond simple auditing, the auditor suggests areas for improvement to strengthen the efficiency of the company's accounting and financial processes. It helps optimize internal control systems, reduce risks, and ensure greater financial transparency.
Qualities and skills needed to be a good financial auditor
Rigor and analytical mind
The financial auditor must have a keen eye for detail to detect potential errors, inconsistencies, or fraud in financial statements. His analytical mind allows him to interpret accounting data, assess risks, and make relevant recommendations.
Good communication skills
He must be able to explain his findings clearly and effectively, both to financial experts and non-specialist audiences. Good listening and persuasion skills are also essential for building trust with clients or internal teams.
What are the advantages of being a financial auditor?
Strong employability and career opportunities
Financial auditing is a highly sought-after field, offering numerous career opportunities. After a few years of experience, an auditor can advance to positions as a manager, financial director, management controller, or even a financial consultant.
Rapid skill development
Thanks to the diversity of the missions and companies audited, the auditor quickly acquires expertise in finance, risk analysis, and accounting management. This profession also allows for the development of cross-functional skills such as project management, communication, and teamwork.
Financial auditor: salary and career development
Average salary of a financial auditor by experience
Beginner (0-3 years of experience) : between €35,000 and €45,000 gross per year
Confirmed (3-5 years of experience) : between €45,000 and €60,000 gross per year
Senior (5-10 years of experience) : between €60,000 and €80,000 gross per year
Director or partner (+10 years of experience) : more than €100,000 gross per year, with remuneration reaching several hundred thousand euros for partners in large firms.
Career prospects for financial auditors
In an audit firm
- Junior Auditor (0-3 years): Starts on analysis missions under the supervision of more experienced colleagues.
- Senior Auditor (3-5 years): Takes charge of more complex missions and supervises juniors.
- Manager (5-8 years): Supervises several missions, manages customer relations and supervises a team.
- Senior manager / Director (8-12 years): Leads strategic missions and ensures the firm's commercial development.
- Partner (+12 years): Participates in the management of the firm and can become a shareholder.
In business (internal audit or corporate finance)
- Management Controller: Analyzes financial performance and participates in cost optimization.
- Financial Manager: Oversees the company's accounting and financial management.
- Chief Financial Officer (CFO): Defines the financial strategy and manages investments.
- Finance or risk management consultant: Provides expertise as a freelancer or within a consulting firm.
What studies do you need to become a financial auditor?
Initial and specialized training to access the profession
- Business schools with a specialization in finance, auditing or management control.
Masters in university :
- Master's in Accounting, Control, Audit (CCA)
- Master of Finance
- Master's in Audit and Management Control
Accounting diplomas :
- Diploma in Accounting and Management (DCG - Bac +3)
- Higher Diploma in Accounting and Management (DSCG - Bac +5) → provides access to the profession of statutory auditor.
Specialized training and certifications
- MBA or Specialized Masters (MS) in finance, auditing or risk management (offered by some business schools).
Professional certifications :
- Certified Public Accountant (CPA) (especially in the United States)
- Chartered Financial Analyst (CFA) (internationally recognized)
- Certified Internal Auditor (CIA) (specific to internal auditing)
Certifications and continuing education for professional development
Certified Internal Auditor (CIA)
Awarded by the Institute of Internal Auditors (IIA), this internationally recognized certification allows for specialization in internal auditing. It is ideal for financial auditors wishing to focus on auditing internal processes and risk management within a company.
Certified Public Accountant (CPA)
Internationally recognized certification, particularly in the United States. Although more focused on accounting, it is often required for financial auditors in large audit firms, particularly in the context of international assignments.
Chartered Financial Analyst (CFA)
This certification focuses on financial analysis, investments, and risk management. It is particularly useful for financial auditors looking to strengthen their skills in asset and investment portfolio management.
Certified Information Systems Auditor (CISA)
This certification is dedicated to the audit of information systems, an increasingly essential area in financial auditing, as it allows the assessment of security, financial data management and compliance of IT systems.
Chartered Accountant Diploma (DCAC)
In France, those wishing to pursue a career in auditing require the Chartered Accountant Diploma (DCAC). This qualification allows them to work as a chartered accountant, a key role in external auditing.
Risk management training
This training allows students to specialize in the identification, evaluation, and management of financial risks within a company. It is often offered by universities or business schools.
Training in IFRS standards and accounting standards
Financial auditors must be familiar with international accounting standards (IFRS) and local accounting standards. Continuing education helps them stay up-to-date on developments in these standards and their impact on financial statements.
Information systems audit (IT audit)
These training courses focus on IT systems auditing and their integration into financial auditing. They are particularly useful given the digital evolution of businesses and the rise of cybersecurity risks.
Internal control training
Internal control is essential for evaluating processes and ensuring the reliability of financial information. Continuing education in this area provides in-depth knowledge of internal process evaluation techniques.
Master's or Specialized Master's in Audit and Management Control
Several institutions offer continuing education programs such as Master's or Specialized Master's degrees in auditing, management control, or finance. These programs are often flexible and tailored to working professionals, allowing students to acquire advanced financial auditing skills while pursuing their careers.