Marg Career Library - Tax Auditor

Overview:

Tax auditor evaluates financial records of companies or individuals, to determine whether they comply with the applicable laws. A tax auditor is a finance professional specifically concerned with taxation issues. Auditors are usually required to be qualified Chartered accountants.

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Career Path:

Commerce Graduates can look at a career in Tax Auditing. They would require to complete CA course to be considered for senior positions.

Stream of Study in 12th Grade/School:	Commerce
Degree/Graduation Courses:	B.Com /B.Com (H) B.Sc. Maths
Higher education/Post Graduation Courses:	Integrated M.Com M.Com(H) in Accountancy, Finance or Business or Auditing C.A

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Top Colleges:

Institute of Chartered Accountants of India, Delhi
Loyola College, Chennai
Lady Shri Ram College, Delhi
Symbiosis Institute of Business Management, Pune

Job Opportunities:

Accounting Firm
Large Corporates
Private Practice as a Chartered Accountant.

Job Responsibilities:

Analyse all pre- audits and develop required audit plans according to procedures and establish appropriate guidelines.
Maintain all the required paperwork according to required policies and procedures.
Maintain and implement audit plans and supervise implementation of all tax audits.
Analyse all accounting system to administer additional liabilities.
Evaluate all refunds and perform required calculations for all tax assessment and prepare audit reports.
Submit all results according to internal procedures and evaluate issues to provide assistance to clients.
To give the true view of profit and loss account of the company
Check documentation and supporting account balance
Prepare audit reports and file results with authorities

Work Life:

Tax auditing is good for a professional who likes to examine and attest a company’s financial performance for a living.
Most auditors work with teams so that they can complete the audit faster. This also provides them an opportunity to keep checking facts and figures with each other.
They also spend time with financial executives to understand operations of the company and strategize how to present the financial information of the company.
Deep understanding of regulations and finance is required along with the ability to work effectively with others.
Long hours of work are typical at certain times of the year, such as at the end of the budget year or during tax season.

Key Skills:

Analytical skills
Numerical skills
Detail oriented
Communication skills
Organizational skills
Time management
Commercial awareness

Designation:

Entry level

Auditing Clerks, Cost Estimators, Financial Analysts, Junior Internal auditor, Trainee, Tax Policy Analyst, Tax Staff

Mid level

Internal Auditor, External Auditor, Personal Finance Consultant, Consultant, Senior Auditor, Tax Senior

High level

Audit Manager, Tax Manager, VP-Finance, Chief Financial Officer, Consulting Manager/Management Services, Partner

Merits & Demerits:

Merits

1. Good for one who likes to investigate or examine financial performance.
2. Tax auditors at mid and senior level management, usually enjoy good work life balance.

Demerits

1. The work can get very boring, as it is repetitive and highly process driven.
2. During the tax season or end of the year budgeting, extra work hours are expected

Overview
Career Path
Top Colleges
Job Opportunities
Job Responsibilities
Work Life
Key Skills
Designation
Merits & Demerits

Tax Auditor

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