The work of an internal auditor is very important for the financial health and legal compliance of any business firm. At the same time, the internal auditor can be facing serious risks due to mistakes on his or her part. In case the auditor is caught for not fulfilling his or her duties, he can face serious repercussions from the career front as well as the legal front. If the auditor is unable to stay on top of all the financial activities of the business entity, he can even face serious jail time.
Proper monitoring of financial and operational transactions is the key to successful auditing. As an internal auditor, you will have to keep track of the flow of transactions in the business. Obviously, unscrupulous managements are always likely to be trying to conduct some of their operations under the carpet. You must have the guts and integrity to guide the management in the right direction. Of course, the management may tell you one thing and may follow their hidden agenda. (more…)
Due to all the recent updates and changes in internal auditing methods and procedures, the Institute of Internal Auditors will be adding new features and topics to its annual series of training events.
Since 1941, the Institute of Internal Auditors has served as a training organization and informational source for internal auditing professionals. The primary goal of the organization is to provide members the latest updates and information regarding the internal auditing industry. Many of those who have joined the organization over the years have included individuals that work in education, technology, risk management, accounting and also for federal government agencies.
As part of its annual training initiative, the organization typically hosts a series of educational events. In past years, these events primarily focused on internal auditing practices and procedures. For this year however, there will be more of a focus on executive development and auditing technology. The change in focus is primarily due to the current economy and also recent changes in traditional business operations. Some of these changes have included internal auditors now working more closely with other internal business departments. (more…)