https://www.ia-pros.com/introduction-to-internal-auditingThere is a saying that Internal Auditors are the common enemy of all. Aggravating and nuisance at the back of the mind is how some describe us.
Who would want to have a constant walking critique that is a part of your network and chosen profession?
Today, without the promise of changing your conviction rapidly, consider revisiting these 5 stereotypes about Internal Auditing that aren’t always true.
These Basics Skills will Help You Perform Internal Audits with Ease
1.) Internal Auditors are Anti –People
Protocol based, manual based, indifferent, one dimensional, no remorse, no actual knowledge outside of the operations, are the common impressions of Internal Auditors. What they fail to understand is we are just protecting the best interest of the company. What good are the procedures if they aren't upheld? Why were they ratified? We do not intend to be stigmatized as corporate police officers, but rather Internal Auditors strive to be a bridge towards creating a better system. Flaw finding is really difficult for certain individuals to digest. Internal auditors' goal is to mirror what the management aspires. The purpose of Internal Auditors is to recommend a process that can produce efficiency and effectiveness in our organizational set up and function.
2.) Internal Auditors are Anti –Sales People
Personnel involved in sales sometimes advocate for additional expenses to close out deals, but some expenses are way beyond the border. Meanwhile Internal Auditors aim to cut down unnecessary expenses that are not within the allocated monthly budget or exceeded the budget. With these opposing objectives, professional friction may develop. Sales people are gross income based while accounting and internal auditors are often net income based. Cost cutting is one of the expectations of Internal Auditors, however, recommendations to cut down expenses are often labelled as counterproductive measures or more so "Anti Sales."
3.) Internal Auditors are extension of the Accounting Department
Accountancy Degrees are often the common denominator of Internal Auditors and accounting personnel; but the former is primarily concern on verifying the truthfulness of financial data and the latter is in charge of recording and journal accounting entries to set up the company’s books.
Internal Auditing goes beyond financial audits - Internal auditors may have a diverse background and can provide input on compliance matters, operation audits, environmental health and safety, and IT auditing. These are a few factors that separate Internal Auditors from the Accounting Department.
4.) Internal Auditors magnify infractions for the sake of Internal Audit Findings
Usually, internal audit findings are believed to be magnified for the sake of commotion or divisiveness or more so for the sake of accomplishment. We do not draw out the imperfections of other department just to enhance our reputations. Internal auditors should aim to clearly define and express the risks associated with each issue to ensure management understands and provides support for corrective actions.
5.) Internal Auditors are over thinkers leading to Paranoia
Typically, based on the overwhelming experience of internal auditors, they may be outspoken on certain of internal audit findings. This should not be confused with Paranoia or overthinking, but rather Internal Auditors should be respected for the breadth of experience they have in identifying risks and effective internal controls. Having this mentality is more important than running the risk of gross negligence as it is a big slap to the face of the Internal Auditors if enormous fraud has been overlooked due to over complacency. The cost of doing nothing is bigger.
These are common impressions of Internal Auditors that aren't always true. However, impressions will always be there and we cannot please everybody for the sake of image. Being disliked is a part of a growing reality, and a fear of being stereotyped should never sway an internal auditor from the goal of independence and objectivity.
You have a world of enormous opportunities for you ahead, these tips will help you soar in your journey.
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