In the face of economic uncertainty, internal audit has become a critical resource that can help companies improve their internal control and risk management systems and improve overall business performance.
And if 2-3 years ago, managers preferred to outsource many of its functions, today there is a tendency in the market to massively attract internal auditors to their staff.
Why is there a high demand for internal audit professionals?
The dynamic development of the business environment, the formation of new areas of activity, the complexity of management processes, the height of large-scale scandals, frauds, and bankruptcies- all this proved the need not only for total control over the financial life of companies but also for the functioning of individual internal audit consulting services.
Such a solution provides reliable protection of the business from errors and abuse, allows you to define “risk zones”, identify and eliminate gaps in the company’s management systems.
Now let’s figure out what opportunities and prospects open up for accountants who decide to expand the scope of their activities and embark on the path of improving their qualifications in the direction of internal auditing consulting services.
From accountant to auditors: working for the future
Working in the field of an internal audit gives an accountant an excellent opportunity to go beyond the limits of his accounting functionality, delve into all aspects of the company’s activities, and shortly, it is profitable to realize himself as a top manager.
In fact, in many companies, internal audit work is viewed as the best preparation for candidates looking to take on leadership positions and accounting services in Delhi in the future.
Such specialists closely interact with all employees of the company, who perform a wide variety of functions, establish working relationships with middle and senior managers.
Moreover, by participating in the implementation of diverse audit tasks, internal auditors are involved in the activities of all divisions and gain the ability to objectively assess the work of the company as a whole.
As a result, they become generators of powerful ideas and constructive solutions, based on which a clear strategy for the development of the company is developed.
In addition, internal auditors are better than anyone else in the intricacies of internal control and risk management, as well as fluent in the practice of preparing financial statements.
And it is these skills that are of the utmost priority to the members of the audit committee.
Thus, experience in this area is an important advantage for professional and career advancement, and also becomes a significant competitive advantage for candidates who are tagged to the audit committee of the board of directors or government agencies.
An internal auditor is at least a controller, and more- a trustee of the company, a consultant, and the right hand of the owner.
Its key task is to timely identify risks and threats that hinder its sustainable development based on testing the internal control system (ICS) and analysis of the strengths/weaknesses of the organization.
This content is meant for information only and should not be considered as an advice or legal opinion, or otherwise. AKGVG & Associates does not intend to advertise its services through this.
Posted by:
CA Aman Aggarwal
AKGVG & Associates