Some would say so! But the main purpose is to assure the board that systems of internal control are operating effectively across the organisation. Other duties include facilitating risk management processes and providing risk and control advice to staff.
Fingers to the bone?
It's pretty much an eight-to-five job, though there are Audit Committee duties throughout the year. Hours can be upped towards the year end. If the company were to suffer a serious fraud, it'd be all hands to the pump.
How much green?
In the region of £17-30k, depending on the sector, qualifications and experience. There are excellent opportunities available for those willing to take them.
Main challenges?
Staying on top of sector developments and ever-changing legislation is quite a challenge. Also, trying to help staff with operational issues while retaining objectivity is a difficult one to juggle.
What do you need to succeed?
A logical, systematic approach to problem solving is essential, but you need to be creative enough to think about things from a different angle and realise that "common sense" is not actually that common.
Sometimes the job can get frustrating, so the ability to see things through to the end is also important. Auditing involves a lot of interaction with people at all levels, so effective communication skills are key.
What are the best bits …
Meeting lots of people, learning in detail how an organisation operates and noticing improvements as a result of audit work.
and the worst?
Again, meeting lots of people. People are so busy sometimes that it can be difficult to organise meetings on a timely basis, particularly if a client is "unenlightened" regarding the benefits of audit.
Source
Housing Today
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