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No, CCTV CAMERA should be appropriate term.
If the company is considered as a prison, yes. If managers are the guards. I would say an auditor is somebody who tries to understand how things work in a company, he listen and report if something should be corrected but also what works fine.. He acts in support to the company's management.
Auditor role is more versatile and more effective to the Management to achieve the certain goals, so this is not like that to think on nagative way.
This statement is absoluterly true if assignment is of assurance service. But it doesnt hold that good for certifications, investivations and othe special assignments.
An auditors job is to act as a watch dog (to keep monitoring his owner's area), and bark (warn) when something creepy happens or appears to happen. If needed, he is authorized to bite (escalate) the wrongdoers. But still I will prefer not to compare them with the watchdogs.1st, auditors areas of responsibilities are much more than that, and watchdog is a not positive word to compare him with. :)