Audit Manager: Career and Salary Facts

Research what it takes to become an audit manager. Learn about the education requirements, salary and job outlook to find out if this is the career for you. Schools offering Auditing degrees can also be found in these popular choices.

What Does An Audit Manager Do?

An audit manager holds an upper-level auditing position that involves both financial analysis and supervisory skills. Audit managers evaluate financial statements for accuracy and regulatory compliance. They may work within a company or organization, or they may audit many organizations for an external oversight body. In addition to conducting audits, audit managers also oversee the activities of lower-level staff, such as auditing clerks.

The table below provides an overview of this career:

Education Required Bachelor's degree
Education Field of Study Finance, accounting, business administration
Key Responsibilities Identify inaccuracies in financial records; confirm their compliance with laws and regulations
Certification CPA Certification is mandatory for most positions in most states
Job Growth (2014-2024) 11% (for all accountants and auditors)*
Median Salary (2017) $117,204 (for audit managers)**

Sources: *U.S. Bureau of Labor Statistics, **Salary.com

What is an Audit Manager?

Auditors perform a variety of tasks related to the analysis of financial statements and records. One of their primary responsibilities is to determine accuracy and compliance with local, state and federal laws and regulations. While auditors may perform many of the same tasks as accountants, their primary focus is to look for incidences of fund mismanagement and fraud.

According to an August 2012 search for available audit manager positions, you may find employment opportunities with accounting, security and finance firms that handle corporate clients, as well as government agencies. While these positions might require you to manage client accounts, they wouldn't necessarily require you to manage in-house personnel.

What Education and Training Might I Need?

According to O*NET OnLine in 2015, 48% of auditors, including those who worked in audit management, had a bachelor's degree. You can find bachelor's degree programs in areas like finance, accounting, business administration and other related areas.

The U.S. Bureau of Labor Statistics (BLS) suggests exploring internship opportunities with local businesses or government offices. Some of these may be part-time during the school year while others may be available during the summer. In some cases, especially if you're currently working as an accounting clerk, you may be able to advance to an accountant position with some community college credits.

Do I Need to Be Licensed or Certified?

The BLS states you may increase your employment options by obtaining a Certified Public Accountant (CPA) license. The CPA exam is national; however, individual states have their own requirements, so you'll want to refer to the accountancy board for the state where you plan to work. In order to maintain your license, you'll need to take additional coursework.

Although not required for all positions, you may also consider professional certification, such as the Certified Information Systems Auditor (CISA) or Certified Internal Auditor (CIA) designations. You will need experience to pursue these credentials, as well as meet any education requirements.

What Salary Might I Earn?

According to Salary.com in February 2017, audit managers earned a median salary of approximately $117,204. The website noted that this figure generally applies to audit managers with at least eight years of experience, as well as a bachelor's degree in an area of specialty.

What Are Some Related Alternative Careers?

If you are interested in handling finances for a single organization, you could consider becoming a management accountant. In this position, you would assess the company's financial health and make recommendations about budgeting and investments. Management accountants need at least a bachelor's degree. Another finance-related position you could consider is a job as a personal financial advisor. They counsel individuals about financial issues like tax payments, insurance, investments and retirement savings. The minimum educational requirement is a bachelor's degree.

To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below:

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