September 6, 2017 at 1:27 pm #1621354
Hi, I hope everyone is having a great day today! A little background about me: I currently have my CPA and work in public accounting as an auditor. However, I don't know if I will stay too long in public. I am thinking of exit opportunities such as Internal Audit. Thus, I am thinking of pursuing my CIA (Certified Internal Audit). Any advice or tips if I should? Is it worth it? How do you guys like Internal audit? How does it compare to External auditing? Basically, I am a little tired of the long hours and travel with public. Thus, considering industry and possibly internal audit. OR do you guys think I don't need the CIA (since I have the CPA).
Basically, I am just thinking LONG-TERM about my future and if I even switch to Internal audit. I would come in as a senior internal auditor. But, then what? What's the 5 year long term goal with internal audit? I would love to hear peoples thoughts if anyone has even does this.
Thank you so much!!!September 6, 2017 at 2:18 pm #1621387MyredstaplerParticipant
A CIA will not benefit you much in internal audit of you already have a cpa. I have both and only did the CIA since the Fortune 500 company I work for paid for it. I moved from a big 4 to a senior internal audit role and hated it. It basically is more of a paper writing exercise and half of the time doesn't even add any value. The hours aren't that much better in most internal audit shops either.September 6, 2017 at 2:22 pm #1621390
@ myredstapler: That's my problem and I don't seem to understand that. From what I know from people (I've never worked in Internal audit) – Internal audit is like a paper writing exercise. If that is the case, why do so many people like it if it's dull and boring? If it doesn't add any value, why do people go into that and take roles such as senior internal auditor? Are you a senior internal auditor now? I heard that all you do in internal audit is control testing and walk through documentation. Is that it? Do you ever touch the financial statements? Would love to hear more about your role!! ThanksSeptember 6, 2017 at 3:16 pm #1621445MyCPACIACISAParticipant
You do not need CIA when you have CPA.Having CIA is nice but not needed. Claiming internal audit is boring and paper writing is a generalization. I have learned a lot about the companies on my internal audit career. If the internal audit experience is boring, it usually only means that the claimant and or his or her internal audit shop has not contributed much for the company. Internal audit profession is a value added if it is executed properly with full of diligence.September 6, 2017 at 4:38 pm #1621493tg7174Participant
You don't need the CIA if you already have your CPA, but if your employer pays for it or will give you a raise after completing it, then go for it. I do IA and everybody at my shop goes for the CPA and then the CISA if they want. The people with CIAs don't have their CPA. As for adding value, it honestly depends on how receptive the board and management is with working with you and the general culture of the entity. I'm in a position where I've created a lot of value, but it almost entirely depends on how much the entity will work with you. If they don't want your help and make the process cumbersome, then the IA shop turns into a compliance tester. But if you can work on the operational stuff, then you can be invaluable.September 25, 2017 at 4:49 pm #1638554
Hi everyone, has anyone here worked in a bank as a Senior Internal Auditor? How is that experience? I am thinking of shifting gears from public accounting (in external audit assurance/audit) into a senior internal auditor, specifically at a bank. Any thoughts on working at a bank anyone? Pros and Cons?
Thank you so much!November 6, 2017 at 8:49 am #1658771mrapParticipant
Here's my 2 cents on it. I come from Europe, so my opinion might not be applicable to You, but from what I know, I agree with all the other posters – if You have CPA, You don't need CIA. I had started to do CIA, because there was an idea to develop an IA service line at our firm, but the idea was somehow put far far away one day, plus then I left public for a private company in a financial reporting role, so I decided that doing the CIA and then fulfilling the yearly CPE would be a hassle (I had passed 1 of 3 exams and had 2 years left to do the rest ones, but decided not to continue to study). I don't know specifics, but I think that for CIA you had to have also IA specific CPE hours. I'm getting at the point that You potentially would have a hassle with additional CPE hour fulfillment and reporting while not getting any added value from the CIA designation since You have CPA.
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