Behind the scenes of internal audit jobs
The internal auditor performs a crucial function in any business and the way that internal audit is now approached is increasingly proactive in nature, a fact reflected in the amount of investment and resources companies are investing in the field.
Internal audit - getting to the heart of business
An internal auditor analyses the "hows", "whys", and "whats" of a company’s internal operations - the actual systems and processes – and provides assurance on the adequacy of the internal control of an organisation.
It’s about identifying, analysing and mitigating risk and adding value, which have shot up the corporate agenda and this has, in turn, led to a substantial increase in internal audit jobs.
It is linked to risk management and involves developing a company's risk profile. Risk management is a vital function and can be influential on the strategic direction of a company as taking greater risks can generate greater profits. In Internal Audit, the majority of your time will be spent on site, investigating and analysing operational risk, processes, systems and controls, with subsequent recommendations for improvement.
See the world with an internal audit career
It is about getting under the skin of how businesses work and then advising and consulting to make a positive impact on effectiveness or productivity. You may be involved in reviewing systems and IT applications, which may include project implementation.
“One of the main benefits of working in internal audit is the chance to really get to know how business units function as well as gaining exposure to unit finance and managing directors - a great way to network,” says Will Russell, Business Director at Hays Internal Audit in London.
He adds that internal audit is a "superb first step for those looking to move out of the profession. Internal audit positions can involve anywhere between 10-80% travel to the most incredible locations". Opportunities for travel are excellent, as work could involve reviewing the overseas business units for compliance with company's policies.
While many internal audit jobs do not involve travel, for the ones that do the financial implications are significant. Many large companies give their internal auditors a living allowance while they are away. And, because corporate cards tend to pay for expenses, most of this money can be saved meaning your actual expenditure overseas is minimal.
Continue your search for jobs in internal audit.
