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Economic Auditor (m/f/d) 

Companies in Germany with a balance sheet total of more than €6,000,000 at the end of their financial year are obliged to have their accounts audited. This means that professional auditors scrutinise the annual financial statements. Their task is to uncover possible errors in the accounting and to certify the profitability of the company. They therefore bear a great deal of responsibility for the company and are therefore obliged to pass a state examination.  

Here you can find out exactly what the tasks of auditors are, how to learn this profession and what the salary in auditing is like. 

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Are you looking for an economic auditor job (m/f/d)? 

Are you familiar with balance sheets, consolidated financial statements, tax law and special audits? If you are ready for a new challenge, then take a look at our job board and find a large selection of economic auditor vacancies.  

Are you looking for an experienced and competent economic auditor (m/f/d)? 

Good specialists in auditing are not easy to find? With us it is. In our network you will find highly trained and motivated economic auditor who are ready to take the next step in their career with your company

What is an economic auditor?
Definition and overview

Auditors check the financial statements of large companies and, following their audit, decide whether the company's accounts are kept properly and in accordance with the law. The auditor thus holds a public office and must pass a state examination before taking up this profession. This is considered one of the most difficult exams in Germany. 

The audit takes place once a year and is mandatory for large companies and groups. The auditor carries out the audit on the basis of laws and regulations. They then make a judgement as to whether the company has acted in accordance with the law and whether the opportunities and risks have been correctly assessed. If everything is in order, she issues an audit certificate attesting to correct accounting. In addition to carrying out audits of the financial statements, the tasks of an auditor also include special audits. These include, for example, profitability and creditworthiness audits. 

In many cases, auditors also act as management consultants and advise companies on tax or commercial matters. They also provide support with organisational issues or mergers. 

A chartered accountant, also known as an auditor, is primarily responsible for auditing large companies and public limited companies. The profession is indispensable, as larger companies not only have an entrepreneurial but also a social responsibility and their financial statements must be independently audited.  

The so-called "Big 4" are among the world's largest auditing companies. They include Deloitte, KPMG, PWC and EY. 

economic auditor salary:
What does an auditor earn in Germany?

In Germany, auditors earn an average salary of €76,000 per year. With more professional experience, auditors in large companies can earn up to €90,000 a year. 

The salary is highly dependent on professional experience, the size of the company and the location of the company. 

Starting salary as an economic auditor:
Junior auditor salary  

After passing their state examination, junior auditors receive a starting salary of between €42,000 and €44,000 gross per year. This salary rises with increasing professional experience. 

What does an economic auditor do?
Tasks and activities in auditing

The most important task of auditors is to carry out business audits. In doing so, they review the annual financial statements of companies and consolidated financial statements on the basis of the applicable regulations. In addition, they also carry out all other legally prescribed audits, so-called special audits. At the end, they certify the annual financial statements, confirming that the accounting has been carried out correctly and that the company is profitable and viable. In other words, they issue a so-called auditor's opinion. However, these tasks are not just about juggling figures. Auditors are also in dialogue with the company's management and (balance sheet and financial) accountants. They also find out about the economic situation of a company through these discussions. 
Other possible tasks in auditing: 
  • Tax advice: Auditors are authorised to advise and represent their clients in tax matters in accordance with existing regulations.
  • Management consultancy: Auditors can also work in management consultancy. They provide companies with economic advice and support them in organisational matters or mergers, among other things.
  • Preparation of independent expert reports: You can act as an expert for economic management and prepare independent expert reports.
  • Fiduciary administration: Auditors can also take on fiduciary administration. For example, they manage assets and are responsible for executing wills.

Becoming a economic auditor
- studies, training & WP exams

In Germany, people who want to become a economic auditor have to pass a state examination. This is considered one of the most difficult exams in the country: Failure rates for the exam are between 30% and 60%. 

However, prospective auditors must first complete a degree programme and complete practical training. During this time, they are usually employed as an assistant auditor. After the required years of practical experience, it is possible to take the WP state examination before the independent examination board. This consists of a written and an oral part and covers topics such as commercial law, tax law and company valuation. 

Studying to become a economic auditor

If you want to become an auditor, you must first complete a degree programme. It doesn't matter what field of study this is, although a degree in economics is of course an advantage. It is advisable to study subjects such as taxation, business administration and legal aspects. Students often choose to specialise in business administration or economics. Afterwards, there is also the option of completing a Master's degree in auditing, which shortens the economic auditor exam.

Auditor training: Professional practice in auditing

However, before students are allowed to take the WP exam, they must gain practical experience. Depending on the length of the programme, this practical phase lasts three to four years. During this time, the audit candidates work in an auditing or accounting firm and mainly carry out audit-related aspects. As soon as the training is completed and all requirements have been met, the state examination can be taken. 

Prospective auditors often already have professional experience in similar fields. Many of them were previously tax advisors and then decided to continue their training. In this case, the state examination can be shortened and the area of tax law is no longer examined. 

Certified economic auditor Requirements:
Exams and skills

In addition to a degree, sufficient professional experience and a pass in the state examination, auditors also need other important skills. 

Her hard skills include: 

  • Higher education: A Bachelor's or Master's degree, ideally in an economics field
  • Knowledge in the area of tax law
  • Good understanding and handling of legal texts
The soft skills of auditors include 
  • Analytical skills
  • Strong communication skills
  • Economic thinking
  • Ability to work in a team
  • Sense of responsibility

Top vacancies for economic auditors

FAQ

What do you do as an auditor?

As an auditor, you carry out audits of annual financial statements and consolidated financial statements. In doing so, you certify the correct and proper accounting of the company.

What do you do as an auditor?

As an auditor, you carry out audits of annual financial statements and consolidated financial statements. In doing so, you certify the correct and proper accounting of the company.

How much do you earn as an auditor?

In Germany, auditors earn an average salary of around € 76,000 per year. The starting salary in auditing is around € 43,000 per year. 

How much do you earn as an auditor?

In Germany, auditors earn an average salary of around € 76,000 per year. The starting salary in auditing is around € 43,000 per year. 


What qualification do you need as an auditor?

To become a chartered accountant, you need a university degree, several years of professional experience and a pass in the state examination. You can only work as an auditor if you fulfil these requirements. 

What qualification do you need as an auditor?

To become a chartered accountant, you need a university degree, several years of professional experience and a pass in the state examination. You can only work as an auditor if you fulfil these requirements. 


How difficult is it to become an auditor?

The state examination in auditing is considered one of the most difficult exams in Germany with a failure rate of 30% to 60%. You also need a degree and several years of professional experience beforehand. 

How difficult is it to become an auditor?

The state examination in auditing is considered one of the most difficult exams in Germany with a failure rate of 30% to 60%. You also need a degree and several years of professional experience beforehand. 


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