External Auditor

Owned by Steven Piliero
Last updated: May 21, 2024
2 min read

Name: Robert "Bob" Carter

Age: 55

Education: Master's in Accounting from the University of Chicago, B.S. in Business Administration from the University of Illinois Urbana-Champaign

Professional Background:

  • 30+ years of experience in public accounting, with a focus on audit and assurance services for large organizations across various industries (financial services, technology, manufacturing).

  • Focus areas: Financial statement audits, internal control audits, regulatory compliance audits, and fraud investigations.

  • Previous roles: Partner at a Big Four accounting firm, Audit Director at a national accounting firm, Senior Manager at a regional accounting firm.

  • Special certifications or skills: Certified Public Accountant (CPA), Certified Information Systems Auditor (CISA), Certified Fraud Examiner (CFE)

Industry: Accounting and Audit

Responsibilities:

  • Lead and manage audit engagements for large organizations, ensuring compliance with auditing standards and regulatory requirements.

  • Plan and execute audit procedures to assess the fairness of financial statements and the effectiveness of internal controls.

  • Identify and evaluate financial risks, including fraud risks, and communicate findings to management and the audit committee.

  • Provide recommendations for improving internal controls and financial reporting processes.

  • Supervise and mentor audit staff.

Goals:

  • Deliver high-quality audit services that meet or exceed client expectations.

  • Maintain the firm's reputation for independence, objectivity, and professional excellence.

  • Build strong relationships with clients and develop a deep understanding of their businesses.

  • Contribute to the development of auditing standards and best practices.

Challenges:

  • Maintaining independence and objectivity while building strong client relationships.

  • Managing complex audit engagements with tight deadlines and demanding clients.

  • Staying current on evolving accounting standards and regulatory requirements.

  • Attracting and retaining top audit talent in a competitive market.

Motivations:

  • Protecting the public interest by ensuring the accuracy and reliability of financial reporting.

  • Helping organizations improve their financial reporting and internal control processes.

  • Making a positive impact on the accounting profession.

  • Mentoring and developing the next generation of auditors.

Tech-Savviness:

  • Highly tech-savvy with expertise in audit software, data analytics tools, and financial reporting systems.

  • Comfortable with using technology to automate audit procedures and improve efficiency.

  • Open to exploring emerging technologies such as artificial intelligence and blockchain for audit purposes.

Behavioral Traits:

  • Analytical and detail-oriented, with a strong focus on accuracy and precision.

  • Skeptical and inquisitive, always seeking to understand the underlying reasons behind financial transactions and events.

  • Strong communicator, both written and verbal, able to explain complex accounting and audit concepts to non-experts.

  • Collaborative and team-oriented, able to work effectively with clients and colleagues.

Sources of Information:

  • Professional auditing standards and guidelines (e.g., PCAOB, AICPA).

  • Industry-specific publications and research on accounting and auditing.

  • Regulatory updates and guidance from relevant agencies (e.g., SEC, PCAOB).

  • Networking with other auditors and attending professional development events.

Quote:

"External auditors play a vital role in maintaining the integrity of financial markets and protecting the interests of investors. By upholding the highest standards of professionalism and independence, we can provide assurance that financial statements are fair and accurate, and that organizations are operating with effective internal controls."