There are currently an estimated 1,397,700 auditors in the United States. The auditor job market is expected to grow by 10.0% between 2016 and 2026.
How employable are auditors?
CareerExplorer rates auditors with an A- employability rating, meaning this career should provide great employment opportunities for the foreseeable future. Over the next 10 years, it is expected the US will need 145,700 auditors. That number is based on 139,900 additional auditors, and the retirement of 5,800 existing auditors.
Are auditors in demand?
Auditing is a growing field, due largely to stricter government regulations to which managers and decision makers of public companies must adhere. In the United States, these rules are set forth by the Public Company Accounting Oversight Board (PCAOB). The documentation and testing work imposed on public organizations by the PCAOB take an immense amount of effort by employees, managers, and particularly by auditors. Demand in this sector is therefore projected to be very robust, as companies seek personnel to ensure that their accounting services and checks and balances comply with industry standards. Financial crises, corporate scandals, and the increased number of government imposed audits are further prompting businesses to perform comprehensive financial audits to prevent errors that could potentially weaken their brand and damage their image. Tighter lending standards are increasing the importance of audits for organizations to demonstrate their creditworthiness. In addition, the continued globalization of business should lead to greater demand for audits relating to international trade and international mergers and acquisitions. Aspiring auditors who have earned professional recognition, especially as a Certified Public Accountant (CPA), should have the best prospects. Those with a Master’s Degree in accounting or business or a Master of Business Administration (MBA) will likely have an advantage, particularly when competing for jobs with the most prestigious firms. Other sought-after credentials include CIA, Certified Internal Auditor; CISA, Certified Information Systems Auditor; CFA, Chartered Financial Analyst; and CGMA, Chartered Global Management Accountant. Training in a specific sector, such as energy or healthcare, and thorough understanding of consumer protection laws, anti-money laundering regulations, and International Financial Reporting Standards are also viewed as desirable qualifications. Analytical, communication, organizational, and computer skills – especially knowledge of auditing software – are considered important complements to these official certifications and areas of expertise.
What’s the supply of auditors?
The auditor industry is concentrated in California, Texas, New York
Auditor job market by state
|State Name||Employed Auditors|
|District of Columbia||10,860|
|Virgin Islands, U.S.||410|