Internal Audit jobs are often seen as a natural progression for newly qualified ACAs who are looking to leave the profession and move into a line management role. It is often seen as a stepping stone from the profession into industry and commerce; many Financial Controllers have come through the internal audit route as it provides an excellent insight into the financial, commercial and operational aspects of a business or division. Internal Auditors will generally be required to carry out in-depth investigations of the business in order to form an opinion on business processes & controls and performance assessment.

What is the objective of Internal Audit?

Internal Audit's objective is to provide a service to all levels of management by carrying out independent appraisals and analyses of risk control mechanisms, and by making recommendations to improve effectiveness and efficiency of the activities and operating procedures under management's control.

The achievement of this objective involves:

• Reviewing and appraising the soundness, adequacy and application of accounting, financial and other controls (both existing and proposed) to promote effective and efficient internal control at reasonable cost.
  
• Ascertaining the level of compliance with established policies, plans and procedures.
  
• Ascertaining the effectiveness with which the business assets are accounted for and safeguarded from losses of all kinds.
  
• Ascertaining the reliability of management data produced within the business.
  
• Conducting special investigations.

What is the difference between the role of Audit and line management?
It is management's responsibility to establish internal control. Internal control includes the whole system of controls and methods, both financial and operational, which are established to minimise risks and their impact, safeguard assets, ensure efficiency and to encourage adherence to Company policies and directives.

It is Internal Audit's role to carry out an independent appraisal and evaluation of the effectiveness of these controls. Audit is not part of line management. Internal Audit does not develop and install procedures, prepare records or engage in any activity which could compromise its independence. The emphasis on independence in no way diminishes the close working relationship and need for communication between Internal Audit and other functions of the business.

Opportunities in internal audit are available within medium to large organisations across the banking & financial services sector, throughout commerce & industry and within the Profession.

Consultancy Jobs
Corporate Finance Jobs
Financial Control Jobs
Fund Accounting Jobs
Industry and Commerce
Internal Audit Jobs
Private Equity and Venture Capital Jobs
Professional Practice Jobs
SOX Jobs
Tax Accounting Jobs