The word audit means to examine carefully for accuracy with the intent of verification, and the word revenue means income that a company receives from its normal business activities. So a revenue auditor examines income within a company for accuracy. Revenue auditors use graphs, charts and other analytical tools to assess the function and efficiency of the company and recommend ways to increase the company's bottom line.
A revenue auditor conducts a daily revenue audit including cash summaries, journals for entry, and any other related revenue report needed for a department or company. A revenue auditor's job responsibilities include verifying and recording revenue for products or services, credit card billing and credit card deposits, and responding to customer billing inquires and disputes. A revenue auditor prepares reports that help to ensure that the firm runs efficiently and makes a profit.
A revenue auditor needs to have a bachelor's degree in accounting or a related field. Although not usually required for the position, employers prefer applicants with a master's degree in accounting, or with a master's degree in business administration with a concentration in accounting. A revenue auditor should also possess at least one year of experience working in the auditing or accounting field.
A revenue auditor works in a typical office setting. He works a standard 40-hour work week during normal office hours, with weekend and evening work not normally required. A revenue auditor spends the majority of his work shift sitting behind a desk, in front of a computer auditing and analyzing financial information.
According to the Bureau of Labor Statistics, in 2008 the median annual wages of accountants and auditors were $59,430. The median annual wages for auditors and accountants in the field of accounting, tax preparation, bookkeeping, and payroll services were $61,480, in the field of management of companies and enterprises were $59,820, in the field of insurance carriers were $59,550, in the field of local government were $53,660 and in the field of state government were $51,250.
The Bureau of Labor Statistics predicts that accountant and audit employment is expected to grow by up to 22 percent between 2008 and 2018, which is faster than the average for all occupations. Positions for a revenue auditor are expected to increase because of the increase in the number of businesses, and an increased accountability for business spending and protecting stakeholder and shareholder investment in a company.