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New to Internal Audit?

Congratulations!! You have chosen a career which is of immense value, you are here to make things better! As you embark on this journey, consider this good piece of advice and learn from the Top 5 Rookie Mistakes Internal Auditors Make and shine in your journey!

1. You aren’t appointed to find mistakes only

Internal Auditors assure the correctness and help the entity become more efficient. No, you aren’t there to blame and find faults, you are there to find solutions!

Very often, a result oriented audit approach (counting on the number of issues an Auditor finds) is presumed be their glory. In this race, Auditors tend to become the policing guy and thus remain uninvited by the client. If you see good, please appreciate! Write about their best practices, encourage them for what they do and then tell them how they can do it better. Remember, you are for them and not against them.

2. Don't assume

You are meant to exercise professional skepticism and have a questioning mind, but being prejudicial and assuming all is wrong will not help you do your role well.

Don’t assume all is bad before you verify for yourself. Keep an open mind and critically analyze all the information you come across before understanding the scenario fairly. An open and fair approach is always welcomed by clients and it gives you better clarity too.

3. Not everything needs to be written in the Audit Report

The Audit Report is the final result of all your hard work. It is very possible you will have a desire to write and explain everything in detail to ensure your hard work is not in vain but please never do that! Making huge and lengthy reports is a mistake many Auditors get caught in, thereby making the report dull and uninteresting to the Reader.

Think from the perspective of the stakeholders and readers of the report and make the report reader friendly. Learn to summarize and visualize the data. This way you will convey the findings in a way that holds the reader’s attention.

4. Don’t be quick to act on your feelings

If you sense something wrong happening, don’t resort to allegations and blame unless you can justify all that you say. Learn to hold yourself, act calmly and smartly in the situation. Don’t ever let your feelings take over your rational mind. Internal Audit is a prestigious profession and your words hold value. Ensure whenever you say something – it is backed by concrete evidence and critical analysis.

5. Internal Audit is more than a Checklist

Don’t get me wrong, Audit Checklists are very essential but do not focus on checklists alone. Following a well-made checklist reduces a lot of challenges for the Auditor and ensures compliance, but don’t forget Internal Audit is meant to add value. Keep your ears open and allow your eyes to see beyond the checklist, understand the process in-depth, enhance your business acumen and work to bring results which would benefit to make the processes more efficient.

You have a world of enormous opportunities for you ahead, these tips will help you soar in your journey.

Keep coming back and check out our FREE Introduction to Internal Auditing Course to help you grow and become an Amazing Internal Auditor!


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