How to Become a Tax Auditor in Bangladesh: Degree & Salaries
Become a Tax Auditor in Bangladesh: Degree & Salaries
Tax auditing is one of the best careers in Bangladesh. The individual who helps people and organizations complete their tax returns are known as a tax auditor in Bangladesh. It’s also known as a tax advisor, tax accountant, and tax preparer, but the jobs are same regardless of the titles.
From financial documents such as wage, unemployment, and mortgage interest statements, this can entail analyzing and extracting information. Also, traveling to meet with clients might be a part of their regular duties. And they not only work independently but they work for the government and even for a firm.
Although tax auditors can either be internal, external or government auditors, internal auditors are employed to conduct audits and perform other accounting functions within a company. Apart from these, they can help identify fraud, tax errors and mismanagement of funds.
Key Responsibilities of a Tax Auditor in Bangladesh
If you’re an external tax auditor in Bangladesh then you’re impartial third-parties. You should be an expert to help your clients in order to file tax along with educating employees on tax advantages. As government auditors are employed by the Internal Revenue Service, they conduct random audits for companies, especially those suspected of tax evasion or fraud.
Also, there are many other responsibilities of a tax auditor in Bangladesh and some key responsibilities are below:
- Conduct internal audits
- Evaluate and analyze accounting systems
- Evaluate and analyze tax control units
- Provide training to staff
- Maintain all tax documents
- Prepare tax audit reports
- Assist companies to file tax
- Recommendation on proper tax filing and reporting etc
Degree & Salaries of a Tax Auditor in Bangladesh
For the best outcome, you should consider earning a master’s degree in accounting, taxation, or a related field of study. Some aspiring tax auditors earn master’s degrees in order to fulfill state education requirements while a 5-year accounting bachelor can qualify individuals for licensure.
Typically, a tax auditor in Bangladesh gets $52,100 annually, which may range from $45,000 – $65, 957. Provided by employees or estimated based upon statistical methods, this estimate is based upon 4 Bangladeshi auditors’ salary reports. 3
An auditor in Bangladesh can expect to make an average total pay of $52,100 when factoring in bonuses and additional compensation. Although these salaries are basically for those who are Tax Auditors, some of Master of Commerce with honors degree holders also gets the similar amount when they are much experienced in this field.
Steps to Become a Tax Auditor in Bangladesh
As it’s already said if you want to become a tax auditor in Bangladesh then you should undertake a bachelor’s degree course in accounting. Including tax laws, fraud detection and auditing, an accounting degree enables students to learn a variety of topics related to accounting.
The federal government requires tax auditors to have a certification in addition to a degree. This way there are many steps to follow to become a tax auditor in Bangladesh. And now we’ll know about the required steps.
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First Step: Step 1: Earn a Bachelor’s Degree
At least a bachelor’s degree in accounting, taxation, or a related field of study a tax auditor in Bangladesh is commonly held. When you’ll study a bachelor’s degree in accounting you’ll learn business taxation, fraud examination, non-profit accounting, and federal taxation.
As some accounting programs are specifically geared towards students who want to become a CA, these programs generally consist of 150 semester hours in order to fulfill education requirements set by state accountancy boards and take five years to complete.
Though employers tend to prefer applicants who hold undergraduate degrees, tax auditors who take the EA path to this career are not required to have postsecondary training.
Second Step: Continuing Education and Certification
You must earn CA certification if you report to securities exchanges. After that, the licensure exam is administered by a Board of Accountancy, which is usually applicants need a degree to qualify for testing.
Although some states allow experience in the field to substitute for educational requirements, those with CA certification often must complete a determined number of continuing education courses or credits to maintain the designation.
This is because a number of associations offer continuing education opportunities and additional certification options. In addition to these, you also can choose to earn supplementary certifications, including:
- Certified Management Accountant
- Certified Financial Manager etc
Third Step: Get Your Credentials
As tax auditors typically qualify for this career by becoming CA, the requirements for becoming a CA are set by each state’s Board of Accountancy. Although the process generally involves passing a 4-part national CA exam after finishing 150 college hours of coursework in accounting or a related field, those who choose to become EAs must register with the IRS.
It usually requires the passage of a background check and the 3-part Special Enrollment Exam while earning this credential. When tax auditors must include on all tax returns they prepare, other candidates must also attain a Preparer Tax Identification Number.
Fourth Step: Get Experience and Advance
By serving as an accountant or an auditor for a private business, non-profit organization, or accounting firm, tax auditors can gain experience in the field.
These workers may then qualify for employment as an auditor after gaining a few years of experience. Apart from these, employers looking for tax auditors or preparers tend to require at least three years of experience related to taxation.
Fifth Step: Gain Skills
As a tax auditor in Bangladesh, you have to evaluate financial records to determine whether they comply with the applicable laws. In the course of their duty, all tax auditors apply the principles of accounting.
Also, they work whether the companies, individuals, agencies, and organizations comply with the federal, state and local tax laws. Along with leadership abilities, tax auditors need scientific and mathematical aptitudes and strong interpersonal skills.
Also, they should not only feel comfortable using the language and symbols of mathematics and science but should do well in accounting and other related subjects.
Including the ability to use hand tools, they should have good eyesight and good manual skills. Apart from these, they should be able to follow technical instructions as well as make sound judgments about technical matters. That’s why they must have different qualities and some of them are including:
- Ability to write well-organized reports
- The logical development of ideas
- Ability to speak comfortably
- Effectively in front of a group
- Maintaining records