dcsimg



Schools in the USA
Back to Career Search     

Internal Auditor


Description

Internal auditors are professionals qualified to audit accounts, issue financial reports or to conduct a financial audit of an entire department or organization. They verify the accuracy of a company's financial records while checking for fraud, mismanagement and waste. More specifically, they investigate and evaluate their organization's finances, information systems, management procedures and internal controls in order to ensure that all records are accurate and protected against fraud. Auditors also review company policies to evaluate their effectiveness in compliance with corporate policies, laws and government regulations. The systematic and disciplined nature of auditing protects a company from such practices as fraud thereby adding extra value and security to an organization.

Nowadays, companies need to add extra security within their organizations due to increased computer hacking, virus and worm spreading and internal fraud. Internal auditors try not to play the threatening role of police officer or watch dog, however due to the reality that criminal practices occur within companies, auditors play an important evaluative role within most organizations. Auditors work under the guidance of controls which refer to ethical values, consistency in meeting goals and performance measures, to name a few.

Internal auditors work with a high level of integrity and commitment. Their goal is to help their organization function to the best of its ability, while constantly scrutinizing for signs of trouble and glitches. Constant improvements are made, while the auditor problem solves for optimal solutions to any company problems.

There are many types of specialized internal auditors who become experts in specific industry sectors such as environmental, engineering, legal, healthcare, information systems and insurance. These are industry sectors that are more prone to possess foreseeable problems and therefore require specialized auditors. Internal auditors are, to a large extent, key to an organization's success in today's fast-paced business world. They help prevent future catastrophes which result in both saving time and money.
 
View Schools for this Career: 
         Related Careers
arrow Accounting Clerk
arrow Accounts Officer
arrow Actuary
arrow [ view all related careers ]



Program Spotlight
Matching School Ad
California College San Diego

The Secret to Getting Ahead is Getting Started

Programs Offered:
  • Business Management & Accounting (AAS)
  • Accounting (BS)
  • Accounting - Forensic Accounting (BS)

 

 



  Interests and Skills  
Internal auditors subscribe to a professional code of ethics and must therefore work with a high level of ethical standards, use sound judgment, strong initiative, have the ability to think analytically and creatively and be excellent communicators who listen attentively, speak effectively and write clearly. Successful auditors are methodical and persistent, enjoy finding innovative solutions to problems and can direct and advise others.
 

  Typical Tasks  
  • Research and gather information about company policies and practices
  • Identify risks to efficiency, economy, effectiveness and corporate values
  • Determine factors affecting company performance and report and effectively monitor
  • Examine whether employees understand the objectives of their organization
  • Conduct pre-implementation audits to determine if systems and programs under development will work as planned
  • Ensure appropriate controls are in place to minimize risks
  • Closely examine each department's financial records and statements
  • Identify high-risk areas in an organization and research solutions to prevent future problems
  • Internal auditors usually work standard office hours, however longer hours may be required during specific peak seasons and in order to meet deadlines. To perform detailed reviews, internal auditors must travel to the locations of the offices or branches being audited. This travel may include traveling across the city or even across the country, depending on the organization. Otherwise, the rest of the work is usually computer, desk work and reporting findings to management professionals.

  Workplaces, Employers and Industries  
  • Internal auditors are usually employed in both the public and private sectors including businesses, government services, management consulting practices, corporate and personal tax preparation offices, banks, credit offices, engineering firms, health offices, and educational institutions. Due to the nature of the profession, internal auditors are sometimes set up in temporary offices within an organization.

  Long Term Career Potential  
Advancement opportunities for internal auditors are very good because they get a high quality overall perspective of an organization's operations as they are usually responsible for auditing all areas. Internal auditors often report directly to senior management and have access to the Board of Directors through the audit committee. Some organizations use internal audit as a training ground for management, particularly in the finance sector. Also, specialized auditors can advance in their areas of expertise as they learn all aspects of a particular field they audit.
 

  Educational Paths  
Most auditors are accountants therefore the minimum requirements are a university degree along with certification of a designated, certified accountant: CA, CGA or CMA. Auditors come from diverse backgrounds including business, information systems, engineering and economics. Specialized auditors often require an academic background that directly relates to the nature of the organization's business. The professional designation for internal auditors is the Certified Internal Auditor (CIA). The CIA is an internationally recognized accreditation program running through the Institute of Internal Auditors in Altamonte Springs, Florida. This certification is recommended but not compulsory for becoming an auditor as many accountants get promoted after years of experience.
 

Sources:
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2014-15 Edition, http://www.bls.gov/ooh/
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Employment Statistics, 2002, http://www.bls.gov/oes/2002/oes_nat.htm

Featured Schools

Matching School Ads
California College San Diego

The Secret to Getting Ahead is Getting Started

Programs Offered:
  • Business Management & Accounting (AAS)
  • Accounting (BS)
  • Accounting - Forensic Accounting (BS)
  • And more...

 
Ashford University
The Forbes School of Business® combines the power and flexibility of online learning with high-quality, topical Forbes content.
Programs Offered:
  • MA Accountancy - Audit
  • MA Accountancy - Accounting

 
Argosy University

Welcome to Argosy University

Argosy University offers doctoral, master's, and bachelor's degree programs to students through its eight colleges:  College of Behavioral Sciences, Graduate School of Business and Management, College of Education,  College of Health Sciences, College of Arts and Sciences, College of Creative Arts and Design, College of Clinical Psychology and Western State College of Law at Argosy University as well as certificate programs in many areas.

Programs Offered:
  • Business Administration - Accounting (BS) (Online)

 
Post University Online

At Post University, we believe you shouldn’t have to put your life on hold to further your education.

Programs Offered:
  • B.S. in Accounting
  • M.S. in Accounting
  • A.S. in Accounting
  • And more...

 
San Joaquin Valley College

San Joaquin Valley College - A Private Junior College.

Programs Offered:
  • Certificate - Business Administration

 
Saint Marys University of Minnesota

Saint Mary's University of Minnesota's Online Master's Programs

At Saint Mary's, we take pride in offering online graduate degrees designed to complement the schedules of working adults like you. Get an affordable, convenient education from a top-ranked university that's grounded in real-world applications.

Programs Offered:
  • Master of Science in Accountancy

 
National Career College
Choosing a school and a new career path can be a very overwhelming process.
Programs Offered:
  • Business Management and Accounting

 
Northcentral University

Earn your graduate degree online with Northcentral University.

Programs Offered:
  • Advanced Accounting - PhD in Bus. Admin.
  • Advanced Accounting - D.B.A.

 
The University of Scranton

Since 1888, The University of Scranton has grounded its education in Catholic and Jesuit principles based on intellectual growth and integrity, all of which shape the online master’s and certificate programs.

Programs Offered:
  • Master of Accountancy
  • MBA - Accounting

 
Accounting Academy

The Accounting Academy was founded in 2005 and has been continuously approved to operate by the California Bureau for Private-Pstsecondary Education. 

 

Programs Offered:
  • Accounting and Bookkeeping

 
Matching School Ads
  Universities and Colleges
Clarkson UniversityColorado School of MinesDalhousie University
Oral Roberts UniversityPenn State HarrisburgTemple University
The University of HoustonThompson Rivers UniversityUNB Saint John
University of AlabamaUniversity of ArkansasUniversity of British Columbia
University of IowaUniversity of New BrunswickUniversity of Oregon
University of OttawaYork University
Agriculture and Bio-resources | Allied Health and Health Sciences | Applied Business Technology | Architecture
Business Administration | Computer Science | Cosmetology and Esthetics | Culinary, Travel &Hospitality | Dance 
Engineering Technology & Applied Technology |Engineering | Film | Fine Arts and Design | Humanities and Liberal ArtsJustice and Security
Music
| Natural and Applied Sciences | Naturopathic and Holistic MedicineNursingPublic Administration & PolicyReligious and Theological Studies
Sport Sciences and Physical Education | Teacher Education | Theatre
Articles | College News | Videos | Feedback | Career Search
Home | About Us | Contact Us | Faq | Terms of Use | Policy Statement | Site Map | Cities Site Map

Copyright 2003- 2017 QuinStreet, Inc. All Rights Reserved.