The Difference Between Auditors & Financial Managers

Nov 23, 2021 | Blog

The Difference Between Auditor & Financial ManagersThere are many different accounting jobs in Cape Town. We are going to look at the two main career paths (Auditing and Financial Management ) and how they differ.

An auditor is appointed to a company to ensure that the business complies with tax laws as well as review and then verify their financial records for accuracy. Whereas a Financial Manager is responsible for managing the finances of an entity as well as providing financial advice and money management.

Here are a few key differences between an Auditor and a financial manager:

 

Education

In most instances, a Financial Manager is a Chartered Accountant who has an Honours degree or equivalent before passing the two-part qualifying examination of SAICA, alongside a three-year work experience with an approved training organisation. Whereas an Auditor usually has an undergraduate degree in accounting as a minimum.

Responsibility

A Financial Manager and an Auditor are both responsible for the accuracy and legality of the accounting practices of an organization or business.

The work performed by the Financial Manager is regulated by international accounting standards, while an Auditor’s work is regulated by auditing standards.

Financial Managers who are Chartered Accountants have the authority to create financial statements for a company as well as present the financial performance of a business to its stakeholders. An Auditor, on the other hand, will audit the financial statements and determine their accuracy.

What does this mean for Auditing jobs or Financial Manager jobs in Cape Town?

Accountings jobs are booming within the South African economy, and so the demand for Financial Managers and Auditors has increased within the last decade. Good Financial Managers are integral to the financial success of the business and are seen almost as a requirement whereas an Auditor is an optional role for companies.

Looking for the right Financial Manager or Auditor job? Or looking to fill a vacancy Call CA Financial Appointments on 021 442 1100, view our job board or submit your vacancy online.

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