5 Auditing Careers to Consider
- Information Technology
- Internal Auditing
- External Auditing
- Audit Manager
- Academia
If you’re an analytical thinker, have a proclivity for math and enjoy working with people, choosing to pursue any one of the five auditing specializations presented here could set you on the path to a meaningful and rewarding life/work journey. According to Forbes, auditing is in a period of change. As the financial and business world attempts to deal with the general increase in government regulations and public demands for more accountability, the current high demand for professionals in this field is all but certain to increase.
Professional life paths and prospects for those trained in auditing can be more exciting and impactful than is widely assumed. Professionals in these five auditing careers can serve a vital public and societal interest to stabilize and support healthy economies, rout out financial fraud, and expose injustice, among others things.
Resource: Top 10 Online Accounting Degree Programs
1. Information Technology
Employees that combine the skills of auditing and IT specializations into one package are highly valuable members of any team. These workers are tasked with primarily identifying, and working to conceive of and communicate fixes for, system vulnerabilities when it comes to a firm’s data storage, usability, access issues and maintenance.
Candidates can be hired through an outside auditing firm, may work as an internal auditor, or sometimes as an independent consultant. Multi-talented people seeking this position attain a hiring advantage if they have a CPA certification in addition to a CISA, or Certified Information Systems Auditor qualification.
2. Internal Auditing
Working internally for a firm or large business means you or your team ultimately report to the upper-level management and leadership of that firm. General responsibilities include limiting risk exposure of all kinds, as well as formulating and appointing new policies or procedures. Internal auditors must conduct thorough, disciplined and objective investigations of all areas and departments of a business, especially when it comes to financial disclosures and reporting. In-house auditing also involves constantly working to adhere to all of the regulatory and legal frameworks that apply in a jurisdiction.
A bachelor’s degree in business or accounting and a few years of experience relevant to your responsibilities are expected.
3. External Auditing
External auditing involves working as a team and coordinating with internal auditing staff of the client or firm that is subject to the outside audit. These auditors investigate and evaluate clients’ financial records and policies and procedures. They also provide recommendations to the client on ways to improve the effectiveness of their financial reporting compliance and address any other areas of concern.
A masters degree in accounting is preferred for this role. Three years of experience in specific roles within relevant industries is also recommended.
4. Audit Manager
Audit managers are higher-level staff who work to ensure the smooth functioning of both internal and external auditing processes. They take a leadership role within audit teams and help strengthen and reinforce the work being done by employees under their supervision. This work includes continually ensuring full compliance with all regulations and internal procedures and policies.
A masters degree in accounting is preferred, along with 5 to 10 years relevant job experience.
5. Academia
Individuals with real-world auditing experience can consider seeking a position as an adjunct professor of accounting. This not only serves the academic life, but also provides opportunities to formulate and conduct research projects. Further, this career track can enable you to work towards achieving your Ph.D., for instance in Business Administration.
The skillsets, tools and fundamental knowledge learned when committed to professional auditing or accounting are invaluable. Auditors help leaders understand fully how businesses and firms in any industry truly operate, from the nuances of their specific culture to their essential identity and location in the context of the broader marketplace and even society. It is no coincidence that many current CEOs and CFOs have backgrounds in the auditing profession.
