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Are you looking at internal auditing jobs or making a move toward the internal audit career path? Internal auditing is a profession with a long history, and it’s a function that continues to evolve with the swift pace of global regulatory changes and compliance challenges.

What does an internal auditor do?

So, just what does an internal auditor do? Simply put, internal auditors are tasked with maintaining transparency and accountability across their organizations. Job duties for internal auditors include the responsibility for providing assurance on corporate governance, risk management, internal control and operations, in all types of business conditions. Internal auditors also need to stay current on compliance laws and regulations and maintain a broad knowledge and understanding of internal auditing standards. Technical expertise, along with essential soft skills, can help internal auditors succeed in their roles. Duties and responsibilities of internal auditors include: Maintaining comprehensive inventories of company policies and processes Testing and modifying existing financial controls with the goal of boosting efficiency while maintaining accuracy Performing scheduled inquiries and assessments to identify and resolve vulnerabilities before they become problems Creating and updating audit plans to strengthen financial controls Recommending software implementations and policy updates to financial management With that in mind, what reasons are there for considering a career in internal auditing?

1. Demand for internal auditors is high

An internal auditor’s skill set is in demand. In a recent survey for Robert Half’s Demand for Skilled Talent report, 71% of finance and accounting leaders said their departments were experiencing skills gaps. Of that group, more than a third—35%—said the skills gaps were most evident in the area of financial reporting. Risk and compliance concerns are driving hiring at many companies, particularly in highly regulated industries like banking, insurance, healthcare and financial services. Part of an internal auditor’s job description is carefully reviewing information so that financial reporting requirements can be met in a timely and accurate manner. As organizations push to improve internal controls and transparency, they are also looking for internal auditors and information technology (IT) auditors. Many are also willing to train to fill specific needs. Potential jobs for those pursuing an internal audit career include entry-level internal auditors, such as auditing specialists, risk assessment specialists, lead internal auditors, financial analysts, internal controls auditors and information systems auditors. Other positions are lead internal auditors, such as senior internal auditors, and internal audit supervisors, such as audit managers, risk managers and internal audit directors. Finally, there are the internal audit executives, including finance directors, CFOs and controllers. Search open internal audit jobs.

2. Internal auditor salaries are strong

With internal audit professionals in demand—especially in industries with strict regulation and oversight such as finance and healthcare— salaries are strong at every level of the internal audit career path. Salaries vary depending on the specific role, level of experience and geographic location. The most recent Salary Guide From Robert Half, along with our Salary Calculator, can provide helpful information related to average starting salaries all across the United States for a variety of internal audit positions, from the entry-level internal auditor role to director of internal audit and many roles in between. Certifications, some of which are listed below, can also help internal auditors command an even stronger salary and open doors to additional internal audit positions. Learn more about hiring and salary trends in internal audit.

3. Internal auditors are in the corporate spotlight

Internal auditors gain an in-depth, up-close understanding of the processes, policies and procedures of an organization. Partnering with management, they are able to provide invaluable operational knowledge and industry insights to companies, with frequent exposure to the board. That experience may shape the rest of their careers. Financial services institutions also rely heavily on their internal audit teams to help secure transparency and accountability throughout their organizations. The more complex regulatory environment means businesses must balance revenue-generating activities with the need to meet regulatory directives, implement new capital structures and manage institutional risk. Common responsibilities of an internal auditor include the following: Analysis of operations and procedures Compliance review Evaluation of internal controls Safeguard assurances

4. An internal audit career path has many options

The first step is to get your bachelor’s degree, which is required for any level of internal auditor. Many people start out in public accounting before they begin working as an internal auditor. But others jump right into the field and find that career progression from an entry-level internal auditing job can lead to management positions, such as chief audit executive on up to CEO. As far as finance and accounting certifications that can be required later on, companies often look for candidates who have completed various certification programs, which require a combination of education, examination and work experience. Some of those designations include the following: Certified internal auditor (CIA) Certified fraud examiner (CFE) Certified public accountant (CPA) Certified information systems auditor (CISA) Certified government auditing professional (CGAP) With the fast pace of change in so many industries today, success in this field requires continuous learning and adaptation, and the knowledge gained in certification programs can help you remain confident in your ability to stay on top of all the developments. More and more organizations are finding out just how critical a role internal auditing plays in this world of global regulatory changes and rapidly emerging technologies. And more accounting and finance professionals are finding that this business-savvy role of internal auditing gives them key insights into the inner workings of companies, with skills that can transfer to other areas and keep them moving forward on this compelling career path.