Highest salary that a Auditor can earn is ₹15.5 Lakhs per year (₹1.3L per month).
The chief audit executive (CAE), director of audit, director of internal audit, auditor general, or controller general is a high-level independent corporate executive with overall responsibility for internal audit.
Chief Audit Executive (CAE)
The highest auditing role within a company, the CAE reports to the highest levels of management and the board of directors. They are responsible for the overall direction and leadership of the auditing department.
Auditors receive an average salary of $83,000 per year.
Highest-paying positions for accountants
Licensed CPAs can pursue various career paths. Executives and directors in top-tier accounting positions can earn upward of $200,000 annually, more than four times the average starting salary for a general accountant.
Auditors generally do not need a license to practice. But those with several years of experience may need a CPA license to file financials with the U.S. Securities and Exchange Commission.
The obtained results suggest that the auditors' IQ bears a significant and direct relationship with the quality of the audit. It can be concluded that the higher the auditors' IQ is, the higher the quality of the audit would be; therefore, auditors with higher IQ levels, make better judgments with higher audit quality.
For auditors, the scope is most often much larger, as they tend to consider the complete financial history and implications of finance use over a long period of time. This can involve more time reviewing individual financial statements and records than an accountant takes.
If you want to make the most money in consulting, Deloitte pays the best. However if you want to make the most money in auditing or tax PwC is likely your best bet.
Auditors typically earn more money than accountants because employers tend to pay for their services at higher rates.
How much does an Auditor make? The estimated total pay for a Auditor is $89,424 per year, with an average salary of $70,636 per year. These numbers represent the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users.
Traditionally, a bachelor's degree in accounting, finance, or a related field has been the standard educational requirement for auditors. This formal education provides a comprehensive understanding of accounting principles, business practices, and regulatory standards, which are crucial for effective auditing.
What is the Big 4? The Big 4 are the four largest international accounting and professional services firms. They are Deloitte, EY, KPMG and PwC. Each provides audit, tax, consulting and financial advisory services to major corporations.
Phil Knight might be the wealthiest accountant in the world weighing in at $22 billion-ish net worth and 43rd richest person in the world.
Online video rental company Netflix dropped longtime auditor KPMG and switched to Ernst & Young.
The CIA certification is designed for internal audit professionals and covers risk management, governance, and business acumen. On the other hand, if you like accounting or finance subject areas, then CPA certification may be a better choice.
Qualify as a Registered Auditor. Qualifying as a Registered Auditor requires you to first qualify as a Chartered Accountant (SA) and usually takes a minimum of 8 ½ years but can be done in 7 ½ years if you are able to qualify as a Chartered Accountant (SA) within 6 years.
CPAs typically charge between $150 to $400 per hour for their services. Contracts and retainers. Hourly charges can pile up fast, especially if you have more substantial accounting needs, making a contract or retainer a more attractive option. Like hourly fees, contracts and retainers have a wide pricing spectrum.
Only a small fraction of CPAs make $500k a year, but it is possible. And it is faster to achieve in your own firm than by working for a large public accounting firm or getting a corporate job in the industry. To make big money in a solo practice or a small firm, your strategy will differ greatly from the big firms.
A CPA's salary usually reaches the high five figures while senior CPAs in management can earn a six-figure salary.