[Anonymous]

I’m interviewing for an internal audit position for one of the largest and well respected publicly traded companies on the planet. It would potentially allow me to learn controls/procedures on a company which does everything (quite literally).

Does anybody have an opinion on going into internal audit and the career paths that may be possible? I’ve read conflicting opinions on internal auditors, their worth to companies and potential career options. I’m currently in tax and was interested in departing the compliance world into GL accounting or internal auditing.

I would appreciate any advice/insight from the masses.

[h0wdyus]

I am in North Jersey, Montville. What about you. Which company are you working for if you don't mind disclosing. What is the nature of the industry if giving out the name is an issue.

As of now I work in NYC in a investment bank, working in IT. CPA is all about career change for me.

FAR - 81 29th Aug 2013
AUD - 84
REG - 82
BEC - 89 29th Aug 2014
Using Yager

FROM NJ

[Pumpkins]

I'm in North Jersey and I work in Pharma (like half of the people in the state lol)

Almost everyone in my department is a CPA with Big 4 experience. I'm currently the only person that was hired right out of school, and I'm realizing that I need to get my CPA to be competitive with my colleagues, as I'm the baby 🙂

AUD- 93
BEC- 81
FAR- 1/26/2015
REG- TBD

CIA Exams Passed in March, 2014

[Kay]

^

@ Pumpkins: I was the baby in my company as I joined here right out of school whereas most of my colleagues came from big 4 with CISA certificate (we are IT auditors). Now that I got a CPA, and feel a little competitive 🙂

Also, great to see people from NJ. I live and work in NJ too!

Currently:
CPA - Class of 2013
ALMI (Associate, Life Management Institute)
CISA - Passed in 2011, Certified in 2014

In Progress:
ASA (Associate of Society of Actuaries) - EXAM P (O), EXAM FM (O), EXAM MFE (X), EXAM MLC (X), EXAM C (X)

[Anonymous]

Jersey representing.

South Jersey here. Formerly LBI, currently living in suburbia on the edge of the Pinelands.

[Anonymous]

^You Jersey folks want to start listing off exit numbers? Could be entertaining.

[h0wdyus]

Parkway exit 145 ( 280 W ) or 153 ( 80 W)

FAR - 81 29th Aug 2013
AUD - 84
REG - 82
BEC - 89 29th Aug 2014
Using Yager

FROM NJ

[h0wdyus]

@Kay

You mentioned you are IT auditors. What is the scope of work as an IT auditor. I do currently work in IT so very curious to know what you do.

FAR - 81 29th Aug 2013
AUD - 84
REG - 82
BEC - 89 29th Aug 2014
Using Yager

FROM NJ

[UNC MAcc]

There are no exit options that pay better or have a more defined career path.

B - 89
A - 80
R - 78
F - 86

CIA, CFSA, MBA, MAcc (too many f'ing degrees and certs, I know, trust me)

[h0wdyus]

@UNC

So you are all for internal auditing too. Are you currently working in IA.

FAR - 81 29th Aug 2013
AUD - 84
REG - 82
BEC - 89 29th Aug 2014
Using Yager

FROM NJ

[UNC MAcc]

@howdy

I was just kind of being negative because I'm a step below manager and if I left IA I'd basically have to be a grunt for another 4 years before making manager in another line. Probably take a pay cut, and if I didn't, my raises wouldn't be as good.

But IA really can't be beat IMO for an accounting career. Good work/life. Reasonably fast promotions and pretty fast pay increases. With proper certifications there's no reason you can't pull 100K by your 6th year working basically. 9-5.

B - 89
A - 80
R - 78
F - 86

CIA, CFSA, MBA, MAcc (too many f'ing degrees and certs, I know, trust me)

[h0wdyus]

@UNC

So If you were to switch, which role would want to switch into. Are there enough jobs out there in IA to able to change jobs to get a raise, In your opinion.

FAR - 81 29th Aug 2013
AUD - 84
REG - 82
BEC - 89 29th Aug 2014
Using Yager

FROM NJ

[UNC MAcc]

The fastest way to most money higher positions is staying in IA. I'd like to move to a more traditional finance role because my long term goals are CFO/Finsnce Director, not CAE/audit Director.

B - 89
A - 80
R - 78
F - 86

CIA, CFSA, MBA, MAcc (too many f'ing degrees and certs, I know, trust me)

[h0wdyus]

Going by the essence of this thread. It seems IA is the place to be to be able to network with different departments and a move into any of those roles should be easier. IA also give a broader picture of the organization and helps interact with higher Mgt. Being in IA would help in deciding where you want to go next and also help prove to the hiring manager that you are worth it, since you are able to interact with them.

These are my thoughts so far, please go ahead and freely refute them if you feel I am lacking. Just looking for a healthy discussion, since you are already in the IA boat and know more than I do about it.

FAR - 81 29th Aug 2013
AUD - 84
REG - 82
BEC - 89 29th Aug 2014
Using Yager

FROM NJ

[Kay]

@h0wdyus:

There are two different IT audit teams in our company in a big picture – one supporting enterprise infrastructure and architecture, and another one supporting corporate systems that get hosted in the infrastructure, and used by the corporate employees, or even customers.

Let me list out things we do off top of my head. I work in Corporate systems side, so i may not be the best person to explain about infrastructure audit.

Enterprise Infrastructure audit is more like backend type of review:

– Database Capacity, SLA, Securities

– Business Continuity/Disaster Recovery

– Application Vulnerability testing

– Cloud computing (security around cloud computing vendor, etc)

– Enterprise-wide IT process review (if user recertification is centralized by an automated recert tool, then infrastructure team would cover it

Corporate systems audit team is focused on individual applications:

– software development project assurance: to ensure the project address the business requirements as intended by the specified target date

– process review: on a regular basis, (annual, every 3 years or even 5 years) review the IT process with high enterprise significance and highest associated risks.

– integrated audit: integrated with business audit team, review IT processes associated with business processes that Business audit team reviews.

Hope this helps you understand IT audit 🙂 Let me know if you have any other questions.

Currently:
CPA - Class of 2013
ALMI (Associate, Life Management Institute)
CISA - Passed in 2011, Certified in 2014

In Progress:
ASA (Associate of Society of Actuaries) - EXAM P (O), EXAM FM (O), EXAM MFE (X), EXAM MLC (X), EXAM C (X)

[Kay]

Parkway exit 135

Currently:
CPA - Class of 2013
ALMI (Associate, Life Management Institute)
CISA - Passed in 2011, Certified in 2014

In Progress:
ASA (Associate of Society of Actuaries) - EXAM P (O), EXAM FM (O), EXAM MFE (X), EXAM MLC (X), EXAM C (X)

[Author]

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