A company is required to show that their financial records give an accurate account of the firm’s position. In addition to making sure that records comply with existing legislation an internal auditor has to remain on top of his or her game because they will be required to make recommendations as to how their company’s efficiency could be increased.
Internal auditing is a varied career and not all of it pertains to dry figure work. For example, some auditors are required to look out how a business is run and how different teams/departments within the business interact and to make recommendations based on those findings. As an auditor you are looking for ways to advise your company the best way to do things and to stay on top of legislation regarding company accounts.
Anyone who wishes to get trained as an internal auditor will have to take a number of tests and undergo specialized training. Entry into this training for this type of career usually makes some kind of accountancy training and experience a prerequisite for leaning to become an internal auditor. Young applicants would need to have graduated from high school in order to be considering for training as an internal auditor.
There are also a number of routes into this career that do not require a degree, and include training as an accounts technician either with the Association of Accounting Technicians or with the Association of Certified Chartered Accountants. A qualification from either of these bodies counts as accredited prior learning and may mean that you do not have to take some of the professional accounting exams that are required. Alternatively, a person can take up a position as a trainee accountant with an accounting firm and sit the examinations while they are working.
Most companies seek those people who have earned the qualification of certified internal auditor, which is the only globally recognized qualification in this field. In order to qualify you will need a bachelors’ degree and two years’ experience in the field. Companies expect a lot from their internal auditors but if you do well in your chosen field and work as an internal audit manager at a large company then you can expect to earn around $77,000 a year.
In order to become an internal auditor a candidate will need to register with one or other of the professional accounting bodies and then take and pass a series of exams. If you are looking for work as an internal auditor then it is well worth your while to look at one of the websites that are dedicated to bringing together all of the available auditing jobs into one place. Where you are located can also play a part in your chances of getting a job as an internal auditor. There is bound to be a greater requirement for internal auditors in a big city than anywhere else because this is where the largest companies are to be found.
As an internal auditor it is your job to advise the body that has requested, fulfilling this is often done by giving a quantitative assessment of the area that is under scrutiny. The scope of the job is quite wide, not only will you need to have your finger on the pulse of every area of the company’s business; you will also be expected to expose and deter any fraudulent activity.
When you have qualified and start looking for auditing jobs then you should always find out as much as you can about a company before you make an application. Both internal and external auditors can work at many different companies. Also, when applying for jobs in internal audit, it is a good idea to be well prepared before the interview so that you are ready to ask pertinent questions regarding the company to which you are applying.
Internal auditors need to have their finger on the market and so before you go for an interview you should also check out the competitors of the company where you are being interviewed. One of the key qualities that companies look for in an internal auditor is self-motivation and determination. Be prepared for some tough questions during your interview, the way that you respond to these questions could have considerable impact on whether or not you will be offered the job.
