What Is A Certified Internal Auditor?

Certified Internal AuditorIndividuals who find the field of accounting to be interesting may have given consideration to becoming a Certified Internal Auditor. By reading the data found below, you can gain a basic understanding of what this career path involves and subsequently determine whether it would be a good fit for you.

Certified Internal Auditor – Job Description

A Certified Internal Auditor is an individual employed by a private business for the purpose of identifying and examining the standards and controls of their management and fiscal procedures. One of the primary responsibilities that a Certified Internal Auditor will typically have include planning a company’s auditing process. This process will involve collecting and reviewing relevant data, making reports, and conducting tests. Specifically, the Certified Internal Auditor will examine payrolls, financial statements, records, and inventory to determine whether any illegal activities designed to garner greater profits have been exacted. Once they have completed this process, Certified Internal Auditors will submit their findings in official reports that offer the reader a detailed analysis as well as recommendations for corrections and improvement. In addition to completing the aforementioned duties, the Certified Internal Auditor may ensure that taxes are filed appropriately and in a timely fashion.

Work Environment

Typically, Certified Internal Auditors work within office settings from 9-5. In some cases however, the Certified Internal Auditor might work as an independent contractor and thus travel to and from the client’s office. While Certified Internal Auditors will frequently work in isolation, they will also spend a substantive amount of time with other team members when employed by a large organization or during times when a group project must be completed.

Educational Requirements

In order to become a Certified Internal Auditor, you must attain a minimum of a bachelor’s degree in the field of accounting or a related sector, such as management information technology or finance. Throughout the course of their educational careers, students will take a variety of accounting classes, such as cost, managerial, information systems, and financial systems accounting. In many cases, courses will be specific to the field of auditing. These classes are designed to assist women in grasping tax-related concepts like estate, gift, and trust taxation. Additionally, students will learn about partnerships and business ethics.

Certification

Because certification in the field of accounting offers advantages during the job-hunting process, many internal auditors opt to gain certification. In some cases, the auditor will attain the Certified Public Accountant (CPA) title from the state in which they practice. In other cases, the internal auditor will attain the CPA designation via the Institute of Internal Auditors.

Career Options

Individuals who opt to become Certified Internal Auditors will have a variety of career options. Typically, the auditor will hold a salaried position in the public or private sector. Since the scope of the auditor’s work can be quire broad, many opt to specialize in a particular sector, such as compliance, information systems, or environmental policy. Additionally, the Certified Internal Auditor can find work with businesses that offer record-keeping, payroll, tax, and/or accounting services. Finally, individuals who work within this sector have the option to teach or work for themselves.

Related Resource: Become an Actuary

Conclusion

Individuals who have given consideration to becoming Certified Internal Auditors should know that there are a wealth of professional opportunities in this field. Now that you have a basic understanding of what the Certified Internal Auditor does, you can determine whether you would enjoy and/or excel within this sector of the accounting field.

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