NAICS Code 541219-02 - Auditors

Marketing Level - NAICS 8-Digit

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NAICS CODE 541219-02
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NAICS Code 541219-02 Description (8-Digit)

Auditors are professionals who conduct independent and objective evaluations of a company's financial statements, records, and operations. They provide an unbiased assessment of a company's financial health and compliance with laws and regulations. Auditors play a crucial role in maintaining the integrity of financial reporting and ensuring that investors and stakeholders have accurate information to make informed decisions.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 541219 page

Tools

Tools commonly used in the Auditors industry for day-to-day tasks and operations.

  • Audit management software
  • Data analytics tools
  • Accounting software
  • Risk assessment tools
  • Sampling software
  • Fraud detection software
  • Electronic workpapers
  • Document management software
  • Communication tools (e.g. email, video conferencing)
  • Spreadsheet software

Industry Examples of Auditors

Common products and services typical of NAICS Code 541219-02, illustrating the main business activities and contributions to the market.

  • External audit services
  • Internal audit services
  • Compliance auditing
  • Financial statement auditing
  • Information technology auditing
  • Operational auditing
  • Forensic auditing
  • Tax auditing
  • Environmental auditing
  • Energy auditing

History

A concise historical narrative of NAICS Code 541219-02 covering global milestones and recent developments within the United States.

  • The history of the Auditors industry dates back to the early 1900s when the first auditing standards were established. In 1904, the American Institute of Certified Public Accountants (AICPA) was founded, which played a significant role in the development of the industry. The AICPA established the Generally Accepted Auditing Standards (GAAS) in 1947, which became the foundation for auditing practices in the United States. In the 1970s, the industry saw a significant shift towards computerized accounting systems, which led to the development of new auditing techniques. In recent years, the industry has faced challenges due to increased competition and regulatory changes, such as the Sarbanes-Oxley Act of 2002, which increased the demand for auditors. In the United States, the Auditors industry has seen significant growth in recent years due to increased demand for auditing services. The industry has benefited from the growth of the economy and the increasing complexity of financial reporting requirements. The industry has also seen increased competition from non-traditional auditing firms, such as consulting firms and law firms, which have entered the market. The industry has responded to these challenges by expanding their service offerings and investing in new technologies to improve efficiency and accuracy. Overall, the Auditors industry has a long and rich history, and it continues to play a critical role in ensuring the integrity of financial reporting.