[neaux]

Hi Everyone. I was hoping to get some insight on internal auditing. I will be making the move because it’s best for my family.

1. For the people who went from external auditing to internal, what are some of things you love about internal audit and what are some of the things you miss about public?

2. How big of a learning curve should I expect? Or, what’s the time expectation for getting into a good groove?

3. Will hourly budgets be as stressful as they are in public?

4. What resources do you suggest for new internal auditors to help learn/guide internal auditing and/or  help to be an effective internal auditor.

5. Anything else you would like to share.

Any input is welcomed. Thanks

[ruggercpa2b]

1. For the people who went from external auditing to internal, what are some of things you love about internal audit and what are some of the things you miss about public?

I am on a team that does Financial and Operational audits.There are some things that are complex that I am exposed and there are times when things are slow if I am doing compliance work. Some days I miss the hours and constantly being busy part of external audit, but then when I get to leave at lunch to work out and leave work at 430pm I don't miss it as much.

2. How big of a learning curve should I expect? Or, what's the time expectation for getting into a good groove?

For my company because its an industry I have never worked in and the utility industry being a little complex we have a year learning curve. But it really varies and can be a lot less time. By 3 months I would say you will have figured some kind of groove.

3. Will hourly budgets be as stressful as they are in public?
No hourly budgets in IA. If they have a time budget, its not adhered to, to be quite honest like it is in public. The budgets in IA if the department has any is usually just the time frame you have to complete an audit.

4. What resources do you suggest for new internal auditors to help learn/guide internal auditing and/or help to be an effective internal auditor.

Really if you worked in external audit you will be fine. Only thing you would need to learn is getting to know your company and industry and also your IA's methodology.

AUD - 73, 72 retake 7/2/2016
BEC - 8/20/2016
REG - TBD
FAR - TBD

I am so ready for this nightmare to be over. Been at this way too long.

[neaux]

@ruggercpa I have the CPA now. Would you suggest getting the CIA. Any added benefits besides gained knowledge?

BTW, thanks for your response. I find it very valuable and informative.

[Anonymous]

Just as a heads up, not all internal audit jobs are 40 hours a week as most people think. The internal audit department I worked in, everyone in the department was working an average of 50 hour weeks and with some 60 hour weeks. All these auditors came from public to IA for the work life balance, then to realize they are still working long hours. As you can imagine, the turnover was high in this IA department as everyone was expecting these 40 hour work weeks.

[Author]

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