Do you want to join a dynamic business sector? To travel and learn on a daily basis? The profession of independent auditor is a real springboard. It assures you of many job prospects and a fulfilling career. Would you like to embark on this path? The National Company of Statutory Auditors (CNCC) explains everything you need to know about the role of the independent auditor and about the training courses allowing access to this exciting profession.
Why become an independent auditor?
Also known as an auditor, the independent auditor examines the financial statements of a company or any other type of public or private structure using their services. They can, for example, be companies, universities, hospitals or associations. The independent auditor must therefore verify the veracity of the information relating to the company’s financial accounts, as well as their regularity and their compliance with the rules in force.
The key numbers
Thanks to the rise of new technologies precipitating the digital transition of companies, independent auditors are increasingly popular, particularly within the public and non-profit sector. According to the company National Board of Statutory Auditors (CNCC)these are each year nearly 12,000 professionals who offer 8,000 salaried job offers in a wide variety of business sectors.
Intended for young graduates, these offers are offered by more than 6 000 cabinets present throughout the territory and specialized in auditing or chartered accountancy. In the second case, at least part of the activity is devoted to auditing. This sector does not know the crisis, since during the Next 10 years, 100,000 future independent auditors should be hired. And near 245,000 entities are audited annually.
As the CNCC specifies, independent auditors are solicited by many entities and may be called upon to work in different types of sectors such as fashion, automotive or health equipment and services. Others are required to practice in fields of activity such as aeronautics, new technologies or even artificial intelligence.
How to become an independent auditor?
Preparing for a Master’s degree, whatever the chosen specialty
Once the baccalaureate is in handstudents must prepare a Master’s degree, all specialties combined. This may be a university Master’s degree (economics, political science, law, etc.), or a diploma issued by a business school or an engineering school. In this case, the CNCC invites you to check that your diploma confers on you the grade of Master:
- by referring to the website of the Commission for the Evaluation of Management Training and Diplomas (CEFDG);
- by consulting the official bulletins published by the Ministry of Higher Education.
Thanks to the Master’s degree, it is possible to register for the preparatory certificate for the functions of auditor (CPCAC). Following the obtaining of the CPCAC, you must carry out a salaried professional internship as an independent auditor for a period of 3 years, before preparing for the final stage to obtain the certificate of aptitude for the functions of statutory auditor ( AFCAC). The training to become an auditor is therefore equivalent to a baccalaureate level + 8.
Complete a paid professional internship for 3 years
If you want to become an independent auditor, the CNCC specifies that the internship is a must. It generally takes place in an audit and statutory audit firm. Supervised by an independent auditor registered on the list of statutory auditors, it offers a professional experience. This allows in particular to consolidate certain theoretical skills. 200 hours of work on financial audit files are also planned.
Over the three years of internship, it is possible to work for one year in a company located in France or abroad (in a member state of the European Union). The latter must be specialized in the field of auditing or accounting. At the end of the course, a certificate of completion valid for 6 years will be issued to you. This certificate guarantees your registration for the tests of the certificate of aptitude for the functions of auditor (CAFCAC).
CAFCAC, a gateway that offers new opportunities
As indicated by the CNCC, the certificate of aptitude for the functions of auditor (CAFCAC) is the key to exercising your future functions as an independent auditor. It also gives you the possibility of registering for the tests of the diploma of accounting practice in order to become a chartered accountant.
What are the other access routes?
They are multiple: university course, IUT, business or engineering schools, accounting course (diploma in accounting and management (DCG), higher diploma in accounting and management (DSCG)).
In these cases, the DSCG remains a compulsory passage to access the Diploma of Chartered Accountant which will allow you to become both a chartered accountant and an auditor.
As such, your internship must be supervised by an auditor. If this internship is not supervised by an auditor, you must obtain your chartered accountancy diploma (DEC) before carrying out an internship authorized by an auditor professional.
What is the role of an independent auditor?
An expert with solid skills, always attentive to his clients
External to the structure requesting it, the independent auditor verifies and certifies the financial accounts of its client. As the CNCC points out, it is the certification provided by the independent auditor that allows the company to obtain loans and financing from banks or investors and thus reassure its environment. The missions of the independent auditor, carried out in compliance with established laws, allow him to formulate an accurate and sincere opinion following the audit of the annual accounts of the structure concerned.
Constantly keeping abreast of developments governing his activity, the independent auditor must undergo continuous training to regularly challenge his expertise. This concerns in particular the legal and regulatory standards of the economic and financial sector. The independent auditor has above all human qualities, in other words soft skills. He perfectly identifies the sector of activity of his client to best meet his needs. He is attentive to the slightest request made to provide advice and recommendations.
The independent auditor ensures that the accounts of a company or entity also reflect its image. It is therefore no coincidence that the term Audit comes from the Latin “audire” which means to listen.
An independent actor, aware of his choices and their impact
In the service of the common good and the general interest, the independent auditor must analyze with precision the potential risks incurred by the audited structure. On the basis of very varied certificates or audits, the independent auditor also examines the sincerity and accuracy of the information communicated to him. These have a direct impact on all actors in the economic sphere.
Through its many diagnoses, the independent auditor must guarantee the security of the interests of all stakeholders, whether shareholders or companies. He engages his criminal liability and must be aware of what this implies, both at his level and at that of his client and indirectly of the financial market. He must therefore respect certain obligations such as the duty of independence and impartiality or the obligation of transparency and reliability.
The profession of independent auditor also confers great freedom in the exercise of your missions. On a daily basis, you support strong values such as commitment, listening, trust, competence and independence.
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Independent auditor: discover a future-oriented profession with the CNCC!
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