Auditing refers to the process of examining the documents, accounts, vouchers, and books of an organization in a systematic and independent manner. The reason for which this examination is conducted is to ascertain if the financial statements audited represent the actual situation in a true and fair manner. Audits also ensure that maintenance of accounts adhere to the required laws. Complexity of the audit process makes internal auditor training long and very involving.
Any subject matter can be audited. The purpose of the audit process is to assure various stakeholders in an organization that the audited subject matter is free of material misstatement. This term mostly applies to audits of financial books of companies. However, the process may also be performed on other areas like energy conservation, water management, quality management, internal controls, and project management among many others.
Companies employ professionals called auditors to conduct audits. Auditors may be individuals or companies. The end product of an audit process is a document referred to as an audit report. With the audit report, stakeholders are able to effectively evaluate and enhance effectiveness in various operations within a company. Some of the operations that may be improved include governance process, control, and risk management.
Internal auditors usually work as employees for the organization the audit. These professionals can find work with different employers including federal, state, and local governments, non-profit organizations, private companies, and public companies in any industry. Standards in this field are set and enforced by the Institute of Internal auditors in the whole world. The behavior and conduct of certified internal auditors are governed by the institute.
Becoming a professional in the field of auditing starts with having the right skills for the job, which include number crunching and data analysis ability. There are several career directions and educational paths in this field. Usually, some professionals launch their career with a bachelor degree in accounting. There are also degree programs that have the option of internal auditing. Students are allowed to specialize early in their academic career before beginning entry-level work as auditors.
It is advisable for any newly-graduated applicants to go through internship before starting to look for work. Internship programs develop the skills of interns and help them to identify what areas they would like to specialize in. There are several positions one may occupy during internship including co-op work experience, part-time auditing internship, and full-time summer positions.
Most companies only hire people with a bachelor degree as the lowest level of academic qualification. Others require a master degree. During training, one may cover topics such as insurance, risk management, government loans, and investment analysis.
This professional also involves certification as a very important part. Some employers make it a requirement for one to be certified to get a job. Certification of various specialists in this field is done by the Institute of Internal Auditors. Besides this institute, ISACA also offers certification. Experience in auditing is necessary for certification.
Any subject matter can be audited. The purpose of the audit process is to assure various stakeholders in an organization that the audited subject matter is free of material misstatement. This term mostly applies to audits of financial books of companies. However, the process may also be performed on other areas like energy conservation, water management, quality management, internal controls, and project management among many others.
Companies employ professionals called auditors to conduct audits. Auditors may be individuals or companies. The end product of an audit process is a document referred to as an audit report. With the audit report, stakeholders are able to effectively evaluate and enhance effectiveness in various operations within a company. Some of the operations that may be improved include governance process, control, and risk management.
Internal auditors usually work as employees for the organization the audit. These professionals can find work with different employers including federal, state, and local governments, non-profit organizations, private companies, and public companies in any industry. Standards in this field are set and enforced by the Institute of Internal auditors in the whole world. The behavior and conduct of certified internal auditors are governed by the institute.
Becoming a professional in the field of auditing starts with having the right skills for the job, which include number crunching and data analysis ability. There are several career directions and educational paths in this field. Usually, some professionals launch their career with a bachelor degree in accounting. There are also degree programs that have the option of internal auditing. Students are allowed to specialize early in their academic career before beginning entry-level work as auditors.
It is advisable for any newly-graduated applicants to go through internship before starting to look for work. Internship programs develop the skills of interns and help them to identify what areas they would like to specialize in. There are several positions one may occupy during internship including co-op work experience, part-time auditing internship, and full-time summer positions.
Most companies only hire people with a bachelor degree as the lowest level of academic qualification. Others require a master degree. During training, one may cover topics such as insurance, risk management, government loans, and investment analysis.
This professional also involves certification as a very important part. Some employers make it a requirement for one to be certified to get a job. Certification of various specialists in this field is done by the Institute of Internal Auditors. Besides this institute, ISACA also offers certification. Experience in auditing is necessary for certification.
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