How to become an Auditor: Career Guide, Courses, After 12th, Top Colleges, Skills, Scope, Jobs, Salary 2023

Types of Auditors 

There are two basic categories of auditors. These are internal and external auditors. However, there is one more specialization i.e., Forensic auditing.

How to Become an auditor in India 

Becoming an auditor in India has a very conventional process but it takes a lot of merit and dedication. Students who wish to know how to become auditors in India must start preparation from class 11 onwards. They need to choose the right subjects, prepare for the entrance exams, they have to choose specialized courses such as M.Com, PhD, Diploma degree among others.

How to Become an Auditor After Class 12th

Students right after class 10th can choose subjects like Accountancy, Mathematics, Finance and Economics to start preparing for the post of an auditor or other courses that will help them to become an auditor in India. The following section discusses the step by step process to become an auditor after class 12th.

School Level Preparation

• You can choose any stream in your 11th and 12th standard - science or commerce or any other,
• There are so many coaching Institutes like Bilwani Institute of Professional Studies, Mylapore, Chennai which offer integrated coaching for 11th standard, 12th standard as well as for CA foundation, like coaching offered for IIT-JEE.
• If you start your preparation from 12th standard, then it will be an Intensive Integrated Coaching for 18 months coaching, integrating your 12th and CA Foundation course syllabus so that you are facilitated with conceptual clarity and practice, for better marks in school as well as to act as a catalyst in your mission to clear the CA Foundation course.

Graduation

• After the completion of class 10+2, one will have to clear the entrance examination and complete any degree programme related to the field of accounts, finance, and economics.
• The graduation course is for 2-3 years in India and then will have to do an internship.
• The student must have Accounts, Finance, Mathematics and Economics subjects in class 12 with 50% in class 12 boards.

Post Graduation

• After the completion of graduation, the graduates will do an internship for a year and then they can pursue further education to gain more knowledge in the field of auditing.
• Courses like M.Com in Accounting and Auditing, M.Com in Accounting and Taxation and many other courses can be pursued after completing graduation.

Audit Courses

The students can apply for degrees like B.Sc., B.Com, BBA, Diploma, and M.Com in the related subjects.

The candidates should know that a few universities and colleges already have courses that focus more on auditing and others also have auditing as one of their specializations. So, if a career in the field of auditing is ideal for you, you should begin to consider enrolling in these courses listed below below.

Masters in Business Administration 

MBA or Master of Business Administration degree is a Postgraduate Academic Master Degree of 2 years which is divided into 2 or more years and this degree is awarded for a course or program in Business Administration.

Admission Process 

• Mostly admission in Masters in Business Administration or MBA takes place through All India entrance Exams.
• After qualifying a good percentile in entrance exam students will get a call from B schools for the GDPI round.
• Students get colleges according to the score awarded in the GDPI round.

Entrance Exam 

Eligibility criteria for the exam 

• You need to have completed your graduation or must be in the final year of graduation to be eligible for an MBA course.
• Your score in graduation should be at least 50% or more. Premier institutes like IIMs and IITs ask for a minimum of 60% marks.
• Students of reserved categories like OBC, SC and ST get 5% relaxation in the percentage asked.
• In the majority of MBA colleges, final year students are also eligible to apply for the MBA Admissions, provided that they have to submit a provisional certificate from the college or university.

PG Diploma in Accountancy 

PG Diploma in Accountancy or Accounting is a 1- year diploma programme which is offered through either full-time or part time. It is a post-graduation program of professional education specializing in accounting topics such as bookkeeping and financial accounting.

Admission Process

Many colleges and universities consider the aggregate percentage obtained at the level of graduation and merit basis, a few of them conduct their own entrance examinations which are either PG Entrance Exams or PG Diploma Entrance Exams.

Selection is also made on the basis of scores obtained in the entrance exams like CAT/CMAT/MAT/XAT which is followed by rounds of Group Discussion and Personal Interview.

Eligibility criteria for the exam 

• Students with a bachelor’s degree from any recognized college or university preferably in the fields like Accountancy/Commerce or any other Commerce- based course.
• Students with a minimum aggregate score of 45-50% are eligible to pursue Post Graduate Diploma in Accountancy programmes.

BBA in Accounting & Finance 

BBA Finance and Accounts degree programme is an undergraduate professional course of 3 years which deals with the accounting principles and financial aspects of the business planning. The programme is designed for those aspirants who prefer to work for strategic business performing some roles like financial analyst and enterprise venture specialist.

Admission Process 

• The admission process for BBA Finance and Accounts degree programme varies from college to college.
• Some of the colleges and universities accept admission on the basis of merit.
• Some of the colleges and universities conduct their own entrance exams to test the aptitude of the candidates for admission.

Entrance Exam

Eligibility criteria for the exam 

• The candidates should have passed 10+2 board exams with minimum aggregate marks of 50% and more from a recognized board of education.
• The candidates who have passed 10+2 board exams from Commerce background are preferred.

M.Com (Accounting & Auditing) 

M.Com. Accounting & Auditing is a postgraduate Accounts course of 2 years. The M.Com (Accounting & Auditing) degree programme includes micro and macroeconomics, business commerce, export and import policies. Some other topics are like economic theory, money systems, banking systems and principles of accounting and many others. Some of the specialization subjects of this degree programme are Statistics, Taxation, Marketing, Accounting & Finance, Banking, and Insurance.

Admission Process 

• Admission to the M.Com in accounting and Auditing will be carried out on the basis of the entrance exam.
• Admission process of every University/institution is different. Many universities and colleges conduct their own entrance exam for providing admission to the students.
• Some colleges and universities also grant direct admission to the eligible candidates.
• You can fill the application form of the college or university in which you are interested by visiting their official websites.

Eligibility Criteria 

• The candidates should have passed B.Com. or B.B.A. (earlier B.B.S.) degree programme from University of Calicut or B.Com., B.B.A. or B.B.M. or B.B.S. degree of any other University or Institute in any state which is recognized by UGC or AICTE.
• Candidates must have scored minimum 45% marks aggregate in their graduation degree.
• OBC and SC/ST category candidates are eligible for relaxation as per the university rules.

B.Sc. Accountancy 

B.Sc. in Accountancy is a full-time degree programme of 3 years which is divided into 6 semesters of studies in India that is concerned with the provision and analysis of information for a regulation, a range of other decision-making tasks, both inside and outside of an organization and resource allocation.

Admission Process 

• For pursuing B.Sc. in Accountancy, students must ensure that they fulfill the eligibility criteria.
• The selection process for B.Sc. Accountancy in India is based on the aspirants' marks in their 10+2.
• Once the admission process commences in the respective colleges or university, aspiring students can register by filling an online form with their required information.
• Soon after, the screening will be done which will be completely based on the 10+2 score.

Eligibility Criteria 

• For admissions in the B.Sc. Accounting course, students must have passed 10+2 or any other equivalent examination from a recognized board with an aggregate of at least 50%.
• In addition, aspirants must have studied Accounts, Mathematics and Economics as a compulsory subject in Class 12.

Diploma in Accounting & Auditing 

Diploma in Accounting & Auditing is a postgraduate Diploma level Accounts programme of 1 year. This diploma programme includes topics like micro and macroeconomics, business commerce, export and import policies. Some other topics are economic theory, money systems, banking systems and principles of accounting etc.

Admission Process 

The admission process of the Diploma in Accounting and Finance programme is mainly based on the marks obtained by the students in 10+2.

Some colleges and universities also conduct their own entrance exam.

Eligibility Criteria 

Aspiring candidates should have passed B.Com. or B.B.A. (earlier B.B.S.) degree programme from University of Calicut or B.Com., B.B.A. or B.B.M. or B.B.S. degree programme of any other university or college in any state recognized by UGC or AICTE with a minimum of 45% marks aggregate is eligible for admission.

OBC and SC/ST category students are eligible for relaxation as per rules of university.

How to become an auditor in Abroad 

Pursuing auditing as a career abroad is one of the most sought after professions; one does not have to worry much about the future if they become an auditor. The top Countries like Australia, Canada, Sydney, Malaysia, and South Africa offer this carrier.

Auditor in Canada 

You must have an associate’s degree or a higher degree.

• The IIA will accept students with common associate’s degree equivalents. These equivalents basically include a Foundation Degree, Diploma of Higher Education, Higher National Diploma, or 3 A-level certificates with a grade of C or higher.
• The IIA does not require any candidate to meet the experience requirement before they take the CIA examination.
• The candidates must complete the CIA programme requirements within 3 years.
• The IIA does require the candidates of the CIA programme to have at least 12 months of experience in a relevant field.

Top Colleges 

Courses available 

Auditor in Malaysia 

A Bachelor’s degree is the minimum requirement needed to begin a career as an Auditor in the colleges of Malaysia. However, some employers may also prefer a postgraduate degree.

In order to be qualified as an Auditor, the applicant, with maximum 5 years of working experience and 3 years in Auditing field related works, must be a member (1-year minimum) of the Malaysian Institute of Accountants under the “Chartered Accountant Category”.

Top Colleges 

Courses available 

Auditor in South Africa 

An appropriate Diploma degree in Accounting or Accounting Sciences programme.

Applicants who do not meet the admission requirement as indicated above, should apply for a lower NQF level qualification for which they meet the statutory and additional requirements of the different universities.

Top Colleges 

Courses available 

Benefits of Becoming an Auditor

Here are some of the benefits of career as an auditor:

• Salary: If you work with a large auditing firm, then the pay is sufficiently nice. Much better than what some (non-auditing) organisations pay.
• Job Security: Half the employees of the clients dislike auditors. And yet, they cannot avoid them because audit is a mandate required by law. So long as law requires that audits be conducted, auditors will definitely have to work.
• Unique Experience: It is not unheard of that those working with an auditing firm get chosen for employment with their clients or with another employer in the same sector as what they have audited. The experience that one builds by being an auditor counts in the eyes of the employers who do business in the field of auditing. It is a very nice way to enter those industries if you would like to.
• Demand is high: The auditor is one of the in-demand finance and accounting positions in today's hiring market.

Skills required to Beocme an Auditor 

Some of the top skills required for an Auditor are tabulated below for your reference,

Top Recruiters for Auditors

The Auditors are recruited in both government and private companies. Some of the top recruiters of Auditors in India are mentioned below in the table:

Auditor Salary

The salary of auditors in India varies from INR 3, 00,000 to 8, 00,000, the digits change pertaining to what kind of job role the auditors have. The overall salary is usually higher than any other profession which is why most students pursue auditing.

Average Annual Salary

Specialisation Wise

Experience Wise