[foreseeableCPA]

I was looking into internal auditor positions and would love to hear your opinions about internal auditing. I know there are different types such as SOX, operations, and IT. I have experience as a public accountant so it may be weird for me to go to a job with no numbers involved (operation internal audit), but I am always willing to learn and expand my knowledge.

CPA - Class of 2013
CIA - Class of 2016

[gladrial]

Well, I have never been in public just in Internal Audit and I love it. Internal Auditors while maintaining independence get to find problems and help create solutions. The travel schedule as an Internal Auditor can be extensive depending what company you are working for. Also, operational audits are the best part. You gain a better understanding of the business and that look really helps when you are looking a “funky”ness on the financial statement.

I have seen externals zero in on GL acccount because they believe they are risky. But with my operational audit experience I know that the risk account is someplace else.

There is a difference between a “SOX” auditor and a operational auditor. “SOX” auditors are hard locked on the financial statement and potential impacts. An operational auditor is more focused on the busness and its effectiveness improving process.

Reg 76
Bus 82
Aud 70, 86
Far 68 ,79 ten point combo FTW
April Fools day CPA licence WA

[gladrial]

Well, I have never been in public just in Internal Audit and I love it. Internal Auditors while maintaining independence get to find problems and help create solutions. The travel schedule as an Internal Auditor can be extensive depending what company you are working for. Also, operational audits are the best part. You gain a better understanding of the business and that look really helps when you are looking a “funky”ness on the financial statement.

I have seen externals zero in on GL acccount because they believe they are risky. But with my operational audit experience I know that the risk account is someplace else.

There is a difference between a “SOX” auditor and a operational auditor. “SOX” auditors are hard locked on the financial statement and potential impacts. An operational auditor is more focused on the busness and its effectiveness improving process.

Reg 76
Bus 82
Aud 70, 86
Far 68 ,79 ten point combo FTW
April Fools day CPA licence WA

[foreseeableCPA]

@gladrial, Thanks for your input. What is your schedule like? How much do you travel? My current job doesn't require me to travel much so if I do switch to internal audit, it will be a new experience for me. I do like seeing new places so this could be a plus.

Theres got to be more internal auditors on this forum! Where y'all at?!!!

CPA - Class of 2013
CIA - Class of 2016

[foreseeableCPA]

@gladrial, Thanks for your input. What is your schedule like? How much do you travel? My current job doesn't require me to travel much so if I do switch to internal audit, it will be a new experience for me. I do like seeing new places so this could be a plus.

Theres got to be more internal auditors on this forum! Where y'all at?!!!

CPA - Class of 2013
CIA - Class of 2016

[tough_kitty]

I was considering internal auditor positions as well! I think I'd find it interesting for someone with CPA and MBA. But there is a huge range in salaries….anywhere between $40-80K.

Does anyone know which internal auditor positions pay $80K and up? 😉

FAR: 81 (May 2013)
BEC: 81 (July 2013)
REG: 83 (August 2013)
AUD: 82 (November 2013)
California CPA since 1/30/14

[tough_kitty]

I was considering internal auditor positions as well! I think I'd find it interesting for someone with CPA and MBA. But there is a huge range in salaries….anywhere between $40-80K.

Does anyone know which internal auditor positions pay $80K and up? 😉

FAR: 81 (May 2013)
BEC: 81 (July 2013)
REG: 83 (August 2013)
AUD: 82 (November 2013)
California CPA since 1/30/14

[FutureChicagoCPA]

Hi forseeableCPA,

I've been in Internal Audit now for almost 5 years and started right out of college. As gladrial mentioned, the position is dependent on title in some cases. Where I work we look at both financial and operational performance of many of my companies different businesses. Also depending on the firm, the amount of travel will differ. In my case, I travel a minimum of 50% of the time. It seems like a lot, but the travel perks are pretty nice (upgrades, points/miles, etc). I have friends that are in Internal Audit at other Chicago area companies and some travel 5%, some travel 70%. Typically, I've seen Senior level Public Auditors coming into companies at a Senior Internal Auditor level, but depending on how quickly you adapt, work ethic, etc, you could be moved to a Supervisory/Project Manager position within a year.

If you want to travel and would actually like to see the world – get with a large multinational with many locations.

As for pay, larger cities pay more, but it's usually due to cost of living, etc.

BEC - 86
AUD - 78
REG - 79
FAR - 78

[FutureChicagoCPA]

Hi forseeableCPA,

I've been in Internal Audit now for almost 5 years and started right out of college. As gladrial mentioned, the position is dependent on title in some cases. Where I work we look at both financial and operational performance of many of my companies different businesses. Also depending on the firm, the amount of travel will differ. In my case, I travel a minimum of 50% of the time. It seems like a lot, but the travel perks are pretty nice (upgrades, points/miles, etc). I have friends that are in Internal Audit at other Chicago area companies and some travel 5%, some travel 70%. Typically, I've seen Senior level Public Auditors coming into companies at a Senior Internal Auditor level, but depending on how quickly you adapt, work ethic, etc, you could be moved to a Supervisory/Project Manager position within a year.

If you want to travel and would actually like to see the world – get with a large multinational with many locations.

As for pay, larger cities pay more, but it's usually due to cost of living, etc.

BEC - 86
AUD - 78
REG - 79
FAR - 78

[gladrial]

As far as travel. I switched jobs recently so I have little to no travel and its very regionial, with a kid at home travel wasn't ideal. Honestly, I work in a semi rural market so those 80k jobs aren't out there for me but my cost of living is low so my payrate acceptable given that.

Internal audit is more art than science. the IIA rules aren't quite the same as AICPA. @tough kitty, I don't know a lot of MBA CPA's in audit. My current CAE isn't a CPA or a CIA. Its about what you can bring to the table, show a client that you are a problem solver, good at assessing and resolving risks and that 80k may be out there. Since you alread have your CPA go to a public company you have to have some sort of cert to audit them. Auditor pay anyone I know making consistantly big money is a IT auditor. For that you need experience a CISA and maybe a CISSP

Reg 76
Bus 82
Aud 70, 86
Far 68 ,79 ten point combo FTW
April Fools day CPA licence WA

[gladrial]

As far as travel. I switched jobs recently so I have little to no travel and its very regionial, with a kid at home travel wasn't ideal. Honestly, I work in a semi rural market so those 80k jobs aren't out there for me but my cost of living is low so my payrate acceptable given that.

Internal audit is more art than science. the IIA rules aren't quite the same as AICPA. @tough kitty, I don't know a lot of MBA CPA's in audit. My current CAE isn't a CPA or a CIA. Its about what you can bring to the table, show a client that you are a problem solver, good at assessing and resolving risks and that 80k may be out there. Since you alread have your CPA go to a public company you have to have some sort of cert to audit them. Auditor pay anyone I know making consistantly big money is a IT auditor. For that you need experience a CISA and maybe a CISSP

Reg 76
Bus 82
Aud 70, 86
Far 68 ,79 ten point combo FTW
April Fools day CPA licence WA

[Anonymous]

I apologize in advance for the rant…if you love internal audit, forgive me, this is only my opinion. I'll preface this post by saying, everyone has different goals/opinions/preferences and this CERTAINLY is not a representation of everyone in Internal Audit.

Why Internal Audit Sucks By: BobRossFan71

I sincerely believe that outside of a data entry job (i.e., A/P, Invoicing, Payroll, etc.), Internal Audit is the skid mark of the accounting profession; there is nothing worse in my opinion. I worked IA at a Big 4 firm for a few years for pretty much 2 main clients in an IA outsourcing role. Let's start with the reasons I hated Internal Audit:

1) You are treated like a moron. Before getting to know me, I would be met with condescension from new external auditors who can barely wipe their nose. First of all, I killed the CPA…I made the choice to go into advisory (albeit, I did not initially know that meant internal audit), but don't talk to me like I'm a moron, I'll bury you in a knowledge contest. Second of all, it's pretty much a stereotype that internal audit is full of idiots, which bugs me.

2) The work is the Dyson vacuum of the accounting world…it sucks the hardest. It is not challenging in the slightest. I did do operational audits, and those were “o.k.”, but they still weren't great. I also did SOX, which left me with a constant urge to defenestrate myself from the 45th floor of the building I would work out of. If I ever have to hunt for another signature/date/checkmark as long as I live, I may stab myself with a letter opener.

3) You get paid too little and work too much for work that sucks.

4) If you're not careful, you will pigeonhole yourself in Internal Audit and never be suited to be in a position outside of IA (without taking a massive step backwards, that is). If you ever desired to be in any sort of financial reporting position for a Fortune 500 company (CFO, Controller, etc.), spend more than 5 years in IA and you can kiss those dreams goodbye. Before someone jumps down my throat about this: yes, I'm sure someone here knows SOMEONE who has made the jump…congratulations, they are an absolute outlier.

Those are the main points of my rant. I love working for the Big 4 firm I work for, but God I hated Internal Audit with a passion. I've been working in complex accounting and reporting services for my firm in a management advisory role for clients' financial reporting and complex financial accounting needs (IPOs, M&As, IFRS conversions, Hedging and Derivatives, etc.) for a little while now and I love it. It's more challenging and frankly, the reason I studied accounting and became a CPA in the first place. But to bookend my rant, again, just my opinion…if you love internal audit, don't take it personally…I just hated it.

[Anonymous]

I apologize in advance for the rant…if you love internal audit, forgive me, this is only my opinion. I'll preface this post by saying, everyone has different goals/opinions/preferences and this CERTAINLY is not a representation of everyone in Internal Audit.

Why Internal Audit Sucks By: BobRossFan71

I sincerely believe that outside of a data entry job (i.e., A/P, Invoicing, Payroll, etc.), Internal Audit is the skid mark of the accounting profession; there is nothing worse in my opinion. I worked IA at a Big 4 firm for a few years for pretty much 2 main clients in an IA outsourcing role. Let's start with the reasons I hated Internal Audit:

1) You are treated like a moron. Before getting to know me, I would be met with condescension from new external auditors who can barely wipe their nose. First of all, I killed the CPA…I made the choice to go into advisory (albeit, I did not initially know that meant internal audit), but don't talk to me like I'm a moron, I'll bury you in a knowledge contest. Second of all, it's pretty much a stereotype that internal audit is full of idiots, which bugs me.

2) The work is the Dyson vacuum of the accounting world…it sucks the hardest. It is not challenging in the slightest. I did do operational audits, and those were “o.k.”, but they still weren't great. I also did SOX, which left me with a constant urge to defenestrate myself from the 45th floor of the building I would work out of. If I ever have to hunt for another signature/date/checkmark as long as I live, I may stab myself with a letter opener.

3) You get paid too little and work too much for work that sucks.

4) If you're not careful, you will pigeonhole yourself in Internal Audit and never be suited to be in a position outside of IA (without taking a massive step backwards, that is). If you ever desired to be in any sort of financial reporting position for a Fortune 500 company (CFO, Controller, etc.), spend more than 5 years in IA and you can kiss those dreams goodbye. Before someone jumps down my throat about this: yes, I'm sure someone here knows SOMEONE who has made the jump…congratulations, they are an absolute outlier.

Those are the main points of my rant. I love working for the Big 4 firm I work for, but God I hated Internal Audit with a passion. I've been working in complex accounting and reporting services for my firm in a management advisory role for clients' financial reporting and complex financial accounting needs (IPOs, M&As, IFRS conversions, Hedging and Derivatives, etc.) for a little while now and I love it. It's more challenging and frankly, the reason I studied accounting and became a CPA in the first place. But to bookend my rant, again, just my opinion…if you love internal audit, don't take it personally…I just hated it.

[FutureChicagoCPA]

^ This guys username for the win (sorry – had to go off-topic on that one).

Edit: Spelling

BEC - 86
AUD - 78
REG - 79
FAR - 78

[FutureChicagoCPA]

^ This guys username for the win (sorry – had to go off-topic on that one).

Edit: Spelling

BEC - 86
AUD - 78
REG - 79
FAR - 78

[FutureChicagoCPA]

Interesting experience. I think things are a little different at a Big 4 firm than they are when working strictly in IA at the corporation. At the corporation I work for currently as well as the other I worked at previously, IA is typically the feeder level for the different finance functions. But then again, it's all within the experience. I will say that it would be interesting to make the switch to a Public Assurance or any other Finance Department honestly.

BEC - 86
AUD - 78
REG - 79
FAR - 78

[Author]

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