Are you an aspiring student who is thinking about internal auditing as a career? In the name of National and Global Regulatory Changes, Internal auditing as a professional is growing in scope and offers CIA (Certified Internal Auditors) professionals a range of career paths.
THE GROWING DEMAND OF AUDITORS
Internal auditors are growing in demand at private and public companies, non-profit organizations, and government establishments at all levels. Why? since internal auditors are qualified and responsible for handling a variety of business functions which includes risk management, corporate governance, operations, internal control, fraud detection, and safety. To handle such matters, CIA professionals operate as independent agents to remain objective in their assessment. This means, in a publically traded organisation, an internal auditor can report to their committee of the board of directors, staying independent from the company management. Many internal auditors have wide mandates to look into every aspect of a company, from evaluating the operational efficacy to confirming the security controls and regulatory compliance. Students can check their CIA course eligibility online at AKPIS.
CAREER PATHS FOR INTERNAL AUDITOR
Internal Auditors are quite high in demand by the organisations in virtually every aspect, category, and industry- the career path for a CIA professional is linear due to their specialisations. You may not know but some internal auditors can cross over to broader management and accounting jobs, however, the career path is one of experience and seniority.
- Entry-level internal auditors: Internal auditing career early phase requires you to be armed with basic yet essential accounting skills to evaluate an organisation’s procedure, operations, and goals. This includes the ability to report your findings. You will be a contributor with a lead auditor or manager at the helm. You can sign up for some job titles such as Risk assessment specialist, auditing specialist, or auditor.
- Lead/Sr. Internal Auditors: After five years of experience in the niche, you will be expected to contribute to best practice and audit participation. One way to demonstrate a firm your knowledge is to attain CIA certification which needs a minimum of 2 years of experience. After 5 years of experience or more, you can apply for Lead Internal Auditor or Senior Internal Auditor earning up to $81,000.
- Internal Audit Executives: CIA professionals with great experience and high-performing careers can move up to the executive level to lead audit organisation for a firm as a whole. This requires changing organisations and years of gaining the trust of an organisation/company. You will be asked to handle the management and execution of audit plans, and direct the audit teams. In general, such a position report to the CEO.
- Audit Supervisors/Managers: With a decade of experience in Internal Auditing, you can take the level and apply for Audit Manager, Audit Supervisor, Project Manager, or Risk Manager. Imagine earning up to $110,000. Seek promotion now that you have proven capabilities of the leading team.
Now that you know where to head towards, join AKPIS for a certified internal auditor online course. AKPIS Professionals is a leading training provider that brings you US CPA, US CMA, CA, Diploma IFRS, and other accounting certification courses.