Internal Auditor Careers

Job Summary:
Internal auditors perform a very important function within the organization. A competent and vigilant internal audit team headed by a qualified internal auditor is a prerequisite in all organizations. The auditors have to be very well versed with all aspects of accounting, auditing, forensic accounting and computer systems. Operation knowledge helps the auditor understand the business perspective and accordingly institute proper accounting controls. Internal auditor has to check various books of accounts, monitor exception reports, conduct surprise spot checks independently without fear or favor and report any inconsistencies or non-compliance to the management immediately. He should understand the business processes minutely and eliminate any loopholes in the system, thereby protecting the interests of the shareholders.

Qualification:
4 years Bachelors degree in accounting or a related field. He should also possess a CPA qualification. During his apprenticeship the Internal auditor trainee is supposed to understand accounting and controls of various types of industries.

The estimated number of accountants and auditors in 2003 were around 1.2 Million.

Salary Range:
On an average, accountants/auditors with upto 1year of experience earn about $ 40,000, senior accountants earn about $ 65,000, Managers earned about $ 75.000. Salaries depend on size and complexity of the job, location, education level and professional qualifications.

Prospects:
Due to the growth of industries and increasing number of financial scandals and embezzlement, demand for internal auditors is on the rise. Statutory regulations, financial reporting standards have become stricter and this has created the need for more auditors. There is intense competition in this field but there is no dearth of jobs for qualified and competent internal auditors.