Income Auditor Job Responsibilities

An income auditor is one who accounts for all the revenue that a company makes. The candidate is required to keep track of all the financial procedures followed by the company and draft the profit and loss account. Even preparation of taxation payments is part of the income auditor job responsibilities. Income auditors are therefore expected to possess good educational background which provides high levels of knowledge in all accounting areas. List of income auditor job responsibilities is given below:

Income Auditor Job Responsibilities

  • Conduct a review of all the revenue transactions that the company received by segregating them into each financial category of revenue.
  • Make entries for all the charges that are incurred by each department in the company in a systematic manner every day.
  • Ensure to tally all the income and expenditures that are incurred in the company with actual and balance the transactions end of the day which include both cash and credit transactions.
  • Reconcile the income transactions on a weekly basis without fail.
  • Report all unauthorized income and expenses to higher management in the company when unable to reconcile.
  • Ensure to account5 for all income and expenditure of the company under appropriate category and reverse any wrong entries accordingly on a regular basis.
  • Conduct monthly audit of all the income transactions and inspect all suspicious and fraud transactions closely.
  • Prepare documentation for the income audit work undertaken and submit to the management every month for further review.
  • Prepare annual forecast for income and expenditure and document the same after obtaining approval of the top management of the company.
  • Ensure to strictly follow all the income audit procedures laid down in the company.
  • Assist external auditor in verification and reconciliation of all income transactions once in every quarter.
  • Work closely with all other departments to obtain vital income and expenditure details on a regular basis.

Category: Account Job Responsibilities, Finance Job Responsibilities

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