What does the statutory auditor do and how much does he earn? Duties and salary

The statutory auditor is responsible for auditing the corporate financial statements. He is a professional specializing in economic and legal matters. How much do you earn?

The statutory auditor is an expert in legal and economic matters who mainly deals with the control of company financial statements. That of the auditor is a role of great responsibility for which excellent knowledge of national and international legislation and continuous updating is necessary.

To become a statutory auditor, it is necessary to obtain a degree in economics or law, carry out a period of training and finally pass the state exam for enrollment in the Register.

The effort necessary to reach the goal is rewarded by significant earning possibilities: an expert auditor can earn up to € 50,000 a year.

Who he is and what he does

The auditors in Dubai, also known as the auditor, is a highly trained consultant who deals with the reading of financial statements in the company . He is responsible for auditing either as an employee of a company or as a freelancer for several companies that appoint him.

The statutory auditor is an expert in economic and legal matters , and is in charge of checking the accounting records of limited liability companies and public, private and non-profit entities. To carry out this function, the auditor must be continuously updated on national and international legislative changes.

In other words, the auditor has the task of verifying whether the financial statements of a given company comply with Italian, European and international legislation, and ensuring the correctness and transparency of the accounting documents.

How to become a statutory auditor?

In order to become a statutory auditor, you need a suitable educational qualification, a period of training and passing the state exam.

The most suitable degree courses are:

  1. Business economics;
  2. Administration and labor consultancy sciences;

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After obtaining the degree, the aspiring statutory auditor must necessarily carry out a training period of at least 3 years at an auditing firm. If the degree is of a master’s degree, the traineeship years are 2 and not 3.

After the internship you can access the state exam to become a statutory auditor. The exam is organized once a year and consists of two tests, one written and one oral, on the following subjects: accounting, business economics and political economics, law, finance management, mathematics, computer science and statistics. In case of a positive outcome, the auditor can request registration in the specific register and practice the profession.

How much do you earn?

It is not easy to determine a prior how much a statutory auditor earns because there are several variables to consider.

First of all the experience. In fact, statutory auditors need a long apprenticeship and their earnings prospects increase with career years. The statutory auditor is an area in which you never stop studying and need constant updates to keep up with the new legislative provisions.

A second variable to consider, is the fact that the auditor can practice both as a freelancer and as a company employee , which makes the chances of earning vary considerably.

To give a practical example, the company statutory auditor starts his career as a junior auditor, therefore with a remuneration starting from 18,000 euros per year. After at least 4 years of experience, the auditor becomes senior and can also join the corporate board of directors.

When the statutory auditor acquires some experience, the estimated earning possibilities are around 36,000 euros per year, up to 50,000 euros for the most experienced and competent auditors.

 

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