Audit Intern Job Description

Internal Auditing: A Professional CPA Firm

Do you want to be an internal auditor? Is it your dream job or maybe you want to change careers and become an internal auditor? It is important for you to understand the duties of an internal auditor if you are not.

Internal auditors are an important part of an organization. Their success in the auditing profession is a reflection of their organization's success. Many organizations face risks.

Success in an organization is determined by how well employees manage risk. An internal auditor is expected to perform annual risk assessment of vital operational and management areas within an organization. The review will show resources are used within an organization.

The organization will be able to identify if the resources are being used in accordance with the procedures. Internal auditors can investigate the day to day operations of the organization while conducting the audit process. They can compare the operations of an organization.

They may advise the management of which operational methodologies to bank on for success. An internal auditor can enhance values by reporting on the progress of managing risks. They will engage in educating the staff and enhancing their development by doing so.

The Internal Auditor: An Assurance Provider for Risk Management

The internal auditor will evaluate the risk management of the organization. The auditor will analyze the risks of the organization. The success of any organization depends on how they manage their risks.

The auditor will assess the risk management processes, systems of internal control and corporate governance processes. Internal audit can be used to evaluate the management of risk from the mailroom to the board room. The internal auditor role is to evaluate the risk at one level to report on the effectiveness of the implementation of management policies at another.

The management will identify all risks affects the organization's growth in return for an internal auditor anticipating possible future concerns and opportunities providing assurance, advice, and insight where it is most needed. The board's audit committee can provide a guarantee to executive management that the risks are being managed effectively. Other assurance providers are likely to perform the same role.

Internal Auditing Skills and Qualifications

Every organization needs to carry out internal auditing. That is a part of accountability which encourages stability and establishes a good analysis of what is happening in the workplace. An internal auditor is someone hired to work within an organization and is responsible for carrying out some audit work on the financial and operational proceedings of an organization.

You need to be able to dig deep and uncover what cannot be seen from the surface point if you want to be a great internal auditor. Businesses want to make money. Being an internal auditor requires that you have some business skills so that you can understand the intents and purposes of what you are researching and the information that is available to you.

You need to have the ability to organize the auditing process and assign jobs to members of your team, as well as set deadlines for every report to be submitted, if you are to be a manager of a team of auditors. You have to work with your team internal auditing. Inform them of what the company wants and how to work with each other.

The Internal Auditing Exam

Compliance audits are used to evaluate an organization's compliance with applicable laws. Federal or state statute can be used to create legal and policy requirements. The board of directors can create compliance requirements of their own.

Information Technology audits are used to make sure that confidential customer information and proprietary intellectual property are safe. Information technology audits make sure that only authorized users can gain access to privileged information and that the information itself is accurate. The board of directors set goals and objectives for the organization and performance audits can be used to find out if they are being met.

The internal auditor will make suggestions for improvement to the board of directors if the organization is not meeting its stated goals. Most closely held companies and small businesses are not required to conduct audits within their businesses, but many private companies choose to employ auditors in an effort to improve their business processes and procedures. Auditors are employed to monitor financial activities and eliminate wasteful spending.

The General Accounting Office and the Defense Contract Audit Agency are internal auditing departments that are responsible for ensuring that resources are used efficiently within the administrative and legislative branches of the government. The internal auditing process uses four techniques to allow auditors to collect information and evidence, analyze the collected data, and report back to the board of directors with suggestions for improvement. An internal auditor is able to perform an objective evaluation of a company's activities is arguably one of the most important aspects of their job.

If company politics prevent the internal auditing department from performing its job as intended, the company will not receive the benefits that are associated with an honest internal audit such as increased efficiency and productivity, decreased waste, financial savings and legal compliance. Corporations can promote objective auditing by employing auditors that are not in other roles. Section 1100 of the IIA manual states that internal auditors should report to a single committee or board member who has oversight authority over the internal auditing department in order to maintaindependence and objectivity.

Internships in Accounting

While other ways to improve your resume and gain experience are available, internships are unique in that they give a full picture of what it is like to work as an accountant. Big Four accounting internships pay as much as $24.80 per hour in 2009, which is more than the entry-level graduate rates. If you don't get a job offer, an internship is the best way to start your career.

The Big Four are among the top 5 best places to intern in the Businessweek top of 50 Best Internships. Grant Thornton, McGladrey and BDO are some of the top choices for students looking to get a taste of public accounting. Getting an internship is similar to getting a job.

Major companies often require a stellar GPA to hire you as an intern, so strive for a 3.5 To find out about accounting courses that you need to take, you need to research internship requirements. Having some extra experience will help you stand out in the competition and will show recruiters that you are willing to learn.

Define your goals and internship type, and then you can start working on your career. Keep your options open though, because that selection is competitive. If you meet general internship requirements, you should seek the help of your college adviser.

Not all types of internships will qualify for academic credits, so make sure you note the requirements. If you want to inquire about internship opportunities, contact companies that you are interested in and ask them. You will need to convince the company of your value, so make sure to research before calling.

An Introductory Interview with an Internal Auditor

An internal auditor is a professional who looks at a company's financial and business practices. They usually have an accounting degree. Internal auditors should be tactful and have good critical thinking skills.

Discuss any relevant experiences and tell your interviewer about your passion for business processes. Mention your previous successes if you have worked as an internal auditor before. You could talk about how you saved money for your employer and made the business more efficient.

A performance audit looks at programs and projects. It can look at the management systems and procedures of government or nonprofit entities to make sure the organization is using resources efficiently and effectively. The auditor's opinion is not included in the statement of assurance.