I learned auditing "on the job" over the past 15 years.
I am now moving into a supervisory position and will be hiring an auditor. HR wants me to write up the position (isn't that their job!) with a requirement of a Bachelor degree in either accounting or finance.
Since I do not have either of those degrees, can someone tell me how both are applicable to an auditor job?
Do they teach how to analyze internal controls, etc when you obtain those degrees. Sorry if this is a stupid question but I really need to get someone in here that already has knowledge of what the audit positon is all about and I need to know if requiring a degree in accounting or finance will give me that person.

When I was in school, a very long time ago , we had to take as part of the Accounting degree program, a course in auditing. I think my degree helped me several ways including knowing how reconciliations work between subsidiary and control accounts and financial statement presentation. This would include the controls (checks and balances) used to ensure accurate financial reporting.
I agree there is no substitute for experience, but a degree can help offset the "ramp up" time for a new staff member.
BTW, there are also degrees available in Internal Auditing now. You might consider specifying a certification such as CBA, CIA, or CPA to get some assurance they are grounded in auditing concepts. I believe all of those certifications have a strong focus on auditing.

I don't think this will really help you with your question, but this is just my opinion...

I had a major in English... does that make me qualified to write a novel? Well, not necessarily...

However, do you want a doctor who has had no formal training, so to speak? Not likely.

What I'm trying to say is that most employers hiring for "professional" positions want an employee who has an applicable degree versus... someone else.

That's not to say that the person with the degree won't have a lot of learning to do about things that they never learned in college, but that's the way it goes!

There are things most people who have earned a degree can bring to the table... that perhaps, but not always, people without a degree can't. But, again, either way a lot of job specific training is likely to be needed.

Some employers, however, do give a lot of weight to experience over recent college graduate. That, however, depends on the employer.

What I've learned about banking has been from the ground up. And banking has a lot to do with numbers and figuring and factoring. Auditing includes all of that... and a lot more. I can't help but think that a degree in either accounting or finance would help, at least initially, to grasp some of the banking concepts which, for me, in the beginning were pretty overwhelming.

Whew... that was long-winded! It will be interesting to see if anyone with those kind of degrees have a different perspective!

My two cents...

I do have an accounting degree and have worked in public accounting (various industries) and have been in banking for about 6 years, most of that time spent in a supervisory capcaity. I have had to draft the job descriptions for HR, so I do not think that is out of the ordinary. You deal with audit/compliance on a daily basis.

Some of the best people that I have hired in my department have had degrees outside of accounting and finance, and some only had banking experience. I have always put in the job description that the degree is preferred, but not required.

I see multiple factors when determining who to hire. Risk management involves knowledge outside of just an audit or finance degree. Good audit/compliance people, at least in my geographic location, are difficult to find. You have to have some knowledge of banking, self-starter (work independently), good judge of charachter, and know how to deal with other parts of management that may not see your department as an "income producer".

May I say that I so wish I had an accounting background. I have been in banking for 12 years (teller, ops manager, teller trainer, teller supervisor, compliance officer and now internal auditor; 2 different banks). Less than a year ago I was mandated to accept the IA position. Was I scared? Of course. I am now experiencing the disadvantage of not having a solid accounting background. (I did take some courses in college. However, not enough courses to completely understand the IA position.)_Fortunately our CEO has confidence in my committment (acknowledging my weaknesses). My opinion is....an accounting background is as beneficial to the employee as well as to the bank. Less struggles and frustrations for all. Over time, with self determination and a quest for self improvement, banking can be learned and the employee will be such a benefit overall. (Maybe it is my sense of risk that is appealing to management-this is also a big factor.)
Also, may I mimic Dollar Bill's last paragraph, above as well; "multiple factors"

I've seen great auditors without the finance/accounting background but you need diversity to have a well rounded unit. While a lot of banking is intuitive or common sense, there will be times when you need to know the difference between cash or accrual basis for recording income or how to calculate a mortgage servicing right valuation acording to the accounting rules. This is when the degree comes in handy. However, if you think the finance/accounting knowlege you need from staff can be picked up by equivalent experience, then just say "bachelors degree in finance/accounting, or equivalent experience, required."