Internal Audit – Tips

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  • #188290
    mystical guy
    Member

    I just accepted an offer for an Internal Audit position where I’ll be reporting to the Director of Audit. For the internal auditors or anyone involved in Audit, I want to get some tips on how I can shine and be outstanding at the new job? Also, any publications, books, or anything I need to do to increase my rate of competence and excellence (someone suggested studying for the CIA, anything else?)

    Thanks!

    CPA - Since 2015
    CISA - Smashed 2012
    CIA - Passed 2015

Viewing 6 replies - 1 through 6 (of 6 total)
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  • #596620
    Quinacridone
    Member

    A really firm understanding of internal controls is a critical factor to set you apart. I'm talking beyond the normal understanding – you need to be able to go in and start picking up on it when you see the client. Knowing their internal control weaknesses and strengths helps you really find the areas your clients need your help in and should be the cornerstone of any audit programs you write. I'm in my fourth year as an internal auditor and received a regional award for best auditor – I truly believe my internal control understanding is what has set me apart.

    REG - Nov 4, 2013: 88
    FAR - Feb 27, 2014: 86
    AUD - April 5, 2014: 91
    BEC - May 6, 2014: 83

    Florida CPA 24 July 2014
    (Done in seven months - thank you Jesus!!)

    #596621
    mystical guy
    Member

    @Quinacridone, Wow, impressive. I'm in the presence of greatness, huh? :). It's very interesting that you've mentioned internal controls because during my interview that was how the Director of Audit was assessing where I am “auditwise”, as in, how much training I would need.

    What would be the quickest way to learn all the controls? Controls manuals? Or I also have to spend time reading articles and publications?

    Thanks and congratulations for the award!

    CPA - Since 2015
    CISA - Smashed 2012
    CIA - Passed 2015

    #596622
    Anonymous
    Inactive

    mystical, one way to study up on this would be to make it a main topic for CPE. I personally get my CPE through book study and just ordered a book that is good for 20 hours and covers control functions within every area of corporate accounting.

    I have been an internal auditor for years and totally agree with quinac…, you know these areas very well and you will make yourself a main point of contact, from there you are golden.

    #596623
    mystical guy
    Member

    @ClosestPointofApproach, great idea. I'm not yet certified but I'm eager to learn more on internal controls beyond the CPA.

    I'm not yet certified but are there any websites/courses you recommend that have really hit the nail on the head regarding controls? I'll purchase those and study immediately.

    CPA - Since 2015
    CISA - Smashed 2012
    CIA - Passed 2015

    #596624
    Anonymous
    Inactive

    Mystical, you can just do a random seach on the topic of internal controls – you will find a wealth of information. If you want to knock out CPE while learning, I utilize “cpestore.com” – I just purchased a book by Steven Bragg entitled “accounting controls” which is very good.

    #596625
    mystical guy
    Member

    @ClosestPointofApproach, turns out I might actually have to focus on ITGCs than any other internal controls because I have an interview for IT Audit.

    But I got the book you suggested anyways, and I really like it too. Doesn't hurt to master these things.

    Thanks!

    CPA - Since 2015
    CISA - Smashed 2012
    CIA - Passed 2015

Viewing 6 replies - 1 through 6 (of 6 total)
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