An auditor is a person who, although not directly involved in business activities of the company for which he is working, uses his broad knowledge in many fields, supporting managers in fulfilling their duties and pursuing business objectives.

An auditor’s services usually comprise performing audits of functional and institutional internal control systems, risk management, process organization, organization and management. By promoting best practices in this area, auditors provide managers with analysis, assessment and recommendations.

The role of a professional advisor in auditing corporate fraud and detecting fraud is invaluable. The implementation of the company’s risk management system can be illustrated in the following diagram.

An auditor, acting as the 3rd line of defence, assesses whether the operational risk management, internal controls and management processes are sufficient to guarantee that:

• significant business risks occurring in an enterprise have been identified and effectively managed, the company's resources have been purchased in a cost-effective way, are efficiently and adequately secured against material losses,
• applicable regulations and rules, internal policies, standards, company procedures have been complied with,
• te projects implemented have met the appropriate standards of accountability, ownership and control, and have been consistent with their business objectives and needs.
• An auditor — an advisor of the company, as an expert, performs a balanced analysis of all relevant circumstances, including an assessment of the effectiveness of investment and operating activities in the company, an assessment of the profitability of the company or an assessment the ability of the company’s employees. He does not yield to any inappropriate influence stemming from his interests or other persons’ needs.

An auditor, as an advisor to the company, is a partner for the manager in his standard activities. He watches over business risks, promoting risk awareness. It is an indispensable element of any business activity which is to obtain financial income. A fundamental principle of the company’s operation is to risk its capital in order to recover it at a profit.

A successful company is one that pursues profitable ventures. Any professional activity should take into account the risk of implementing development projects in business. Thanks to an auditor, as a risk expert (including the risk of fraud), the manager gains a greater sense of security.

Sometimes an auditor acts as a financial advisor in an enterprise. When I evaluate a certain situation, I immediately formulate proposals for changes on the basis of the conclusions I have drawn form the examined phenomena.

Business advisory is a service designed to help managers maximize effective management. Within the scope of business consulting in a company, an auditor performs his tasks using the results of conducted assessments, reviews and audits, including an analysis of the company’s financial liquidity or key financial indicators. Often (though not always) he suggests how to increase the efficiency and effectiveness of managing the company’s business processes and resources.

An auditor, as an advisor, also develops accounting and reporting systems that inform the development of key business parameters based on the analyses of various types of reports.

A good auditor is an advisor who shows reliability, diligence, respect for others and, above all, loyalty and honesty towards the people of the company he is working for.