Internal Auditors have many responsibilities within their job but their main focus is auditing their company before an external audit is carried out on their company's financial records.
The internal audit shows the executives of the company where they stand and offers some insight into the financial process for when the external auditor comes in to do an audit of the financial statements.
The external auditor will look at everything in detail and cross reference his own findings with those of the internal auditor's to ensure there are no discrepancies in the books--which could mean that someone from inside the company is embezzling money or 'skimming' off the books.
Internal audits are usually done before the year end in anticipation of the year end external audit being done on the company's financial records.
Internal audit jobs can also be found in other areas of a company.
These auditors assess risk in the area being audited, for example, information technology - the risk of using programs and information is evaluated deeply to see if there are any problems with the programming and use.
Confidentiality and usability are paramount in information technology, ensuring that the information can be accessed easily by those with authorization and that the same information is shielded from those without authorization.
During the internal audit, the auditor will assess the risk and will then make recommendations to improve the systems in place if any holes or errors have been found.
In short, the auditor will help the company improve their operations by bringing in systematic approaches to using the information technology within the company's infrastructure.
A typical internal audit job will be carried out by someone who specialises in their field.
For financial audits, the auditor is likely to be a licensed accountant with a degree in accounting.
For other internal audit jobs, the auditor would need to be schooled and skilled in that particular area, as well as having a background in the auditing of that particular sector.
For example, for IT audit jobs, the auditor would most likely need to be schooled in information technology and auditing.
With information technology rapidly changing, increases in security and decreasing threat risks to a company's internal communications infrastructure, the IT auditor would have to be up on the most recent news and updates in the field to ensure that the company was using the best processes and software for its usage within the infrastructure.
Financial internal auditing can be done periodically throughout the year and is often done each quarter to find out how the company is doing financially and in comparison to other quarters in the year and previous years.
These in depth audits on the company's finances can help increase profitability by seeing where increases or decreases need to be made in spending, expenses, payables and receivables.
The internal audit shows the executives of the company where they stand and offers some insight into the financial process for when the external auditor comes in to do an audit of the financial statements.
The external auditor will look at everything in detail and cross reference his own findings with those of the internal auditor's to ensure there are no discrepancies in the books--which could mean that someone from inside the company is embezzling money or 'skimming' off the books.
Internal audits are usually done before the year end in anticipation of the year end external audit being done on the company's financial records.
Internal audit jobs can also be found in other areas of a company.
These auditors assess risk in the area being audited, for example, information technology - the risk of using programs and information is evaluated deeply to see if there are any problems with the programming and use.
Confidentiality and usability are paramount in information technology, ensuring that the information can be accessed easily by those with authorization and that the same information is shielded from those without authorization.
During the internal audit, the auditor will assess the risk and will then make recommendations to improve the systems in place if any holes or errors have been found.
In short, the auditor will help the company improve their operations by bringing in systematic approaches to using the information technology within the company's infrastructure.
A typical internal audit job will be carried out by someone who specialises in their field.
For financial audits, the auditor is likely to be a licensed accountant with a degree in accounting.
For other internal audit jobs, the auditor would need to be schooled and skilled in that particular area, as well as having a background in the auditing of that particular sector.
For example, for IT audit jobs, the auditor would most likely need to be schooled in information technology and auditing.
With information technology rapidly changing, increases in security and decreasing threat risks to a company's internal communications infrastructure, the IT auditor would have to be up on the most recent news and updates in the field to ensure that the company was using the best processes and software for its usage within the infrastructure.
Financial internal auditing can be done periodically throughout the year and is often done each quarter to find out how the company is doing financially and in comparison to other quarters in the year and previous years.
These in depth audits on the company's finances can help increase profitability by seeing where increases or decreases need to be made in spending, expenses, payables and receivables.