4 Things You Should Know About Internal Auditing Careers

4 Things You Should Know About Internal Auditing Careers

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If you’re a detail-oriented, organized person who’s good with numbers and you’re looking for a business career that will allow you to earn a comfortable living while working on what you do best every day, you may be interested to learn more about internal auditor careers. Accounting careers can vary widely depending on your interests, and many accountants can find work across all sectors, so you’re sure to find an industry you enjoy. If you’re drawn to information security, business operations and financial management, internal auditing could be the right choice for you. Here are a few key facts to keep in mind about this stable, lucrative and interesting career path.

6 Skills You Need in Starting an Internal Audit Career

1. You Can Work Across Sectors

Whether you’re already done with school or you’re starting to look into an online accounting program, having at least a bachelor’s in accounting can open up many doors for you. Internal auditors have the opportunity to work in a variety of organizations, so whether you’re drawn to government work, nonprofits or even legal firms, you’re sure to find opportunities in the area you enjoy most. Additionally, you may be assigned to perform audits on industries outside of your own, so you can continue to learn something new every day throughout your career.

2. You’ll Carefully Review Financial Documents

The main task of an internal auditor is to pore over financial documents, usually from a third-party client, to ensure accuracy and honesty. In other words, you’ll be comparing different reports, cash flow statements and similar documents to make sure that the company is reporting its finances accurately and that its financial state really is what they state it is. If you like solving mysteries and putting pieces of a puzzle together, you could be well suited to this type of work.

3. You’ll Be Paid Comfortably

One of the best parts of working as an internal auditor is the fact that you’ll likely be paid well for your efforts. In fact, according to the Bureau of Labor Statistics, the median annual salary for accountants and auditors in 2019 was $71,550 per year!

4. There Are Advancement Opportunities

Finally, if you’re afraid of plateauing in your career, you’ll be happy to know that at many companies, internal auditors have the opportunity to rise through the ranks via hard work and years put in. If you start with a bachelor’s degree, you’ll begin by analyzing records in an entry-level job and reporting to superiors. If you earn a master’s degree or spend more time at that firm, you can get promoted to a more senior role, which will involve managerial and leadership responsibilities.

While the stereotype of an accountant may make it seem like you’ll be spending all day at your desk in front of a calculator, the truth is, your responsibilities can vary widely and you may have the opportunity to investigate a wide range of interesting questions. If you’re detail-oriented, have an eye for organization and want a career that provides security, good job opportunities and a comfortable salary, you may want to keep internal auditing on your short list. Keep these facts in mind and you’ll be well equipped to make the right decision for your future.

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