Sometimes, the hardest part of obtaining a degree is figuring out what degree to pursue. Why would this be difficult? Put simply, this degree will require a large investment of time and money and will launch a lifelong career. This is not a decision to be taken lightly. There are thousands of careers to choose from and yet I want to pick one that not only gives me a good return on my investment, but also one that will be rewarding. So why would I choose internal auditing as my career? On its face, internal auditing sounds as if one would be stuck behind a desk surrounded by large stacks of unorganized papers looking for things that don’t add up right. Yet, after doing some research I have learned that internal auditing is a rewarding career that is remarkably varied and offers many opportunities.
I still remember the day I made the decision to move across from working in banking operations department to internal audit department in my organisation. It was the dream that I waited for a long period of time before it finally became true. At that point in time there was a vacant position for me to take it and move up in banking operations career ladder, but I decided to forego such a chance and take a lateral movement to a new life in internal audit career. I then remember my CEO asked me why or how did I choose internal auditing as a career instead of banking operations where there were all signs of a bright future for me. The question got me to thinking, why did I choose internal auditing as a profession? I mean really, who chooses to place him/herself in position where you are:
• Constantly learning something new
• Continuously interacting with various people across your organisation
• Helping improve your organisation products or services
I think I chose internal audit and internal audit chose me. I see the world as a series of processes that either fit or do not fit. I’m always curious about how things work and how they can be improved. I remember getting my first mobile phone as a youth. I wondered how the thing worked. So I did some research (and by research I mean took it apart and put back together). Thankfully, I did not damage it. But seriously, I learned a lot about mobile phones. For the next several years, I was able to sort out small problems that were facing my mobile phone without the help of a technician.
I started working in a bank as banking operation officer. This was my first job. It was the standard debit/credit data entry and reconciliation task oriented position. The bank was using well developed banking software that well, did not reconcile. I replicated the system in Microsoft Excel, found the error and helped solve clearance issues. Evaluating the process, identifying control points and improving the workflow was an exhilarating experience. This was the first of many process improvement initiatives .Although there is more to internal auditing than process improvement, I believe this was my first step towards truly realizing the value of the function
Job satisfaction is one opportunity that stands out in the field of internal auditing. Personally, this is the most enticing characteristic of the career. Many people start off their career wanting to make a difference, but they quickly get discouraged when their efforts fall short or simply go unnoticed. Internal auditors get the opportunity every day to make a notable difference. They are allies to management in evaluating and improving the effectiveness of risk management, internal controls and governance processes that management has put in place. They must be reliable in their ability to assess key issues. This means, I wouldn’t be just another employee, but an integral component of an upper level team.
As an internal auditor I will also be able to help people within an organization find ways to streamline their tasks; in essence to work smarter, not harder.
This is beneficial to everyone as it promotes an environment that focuses on utilizing resources more efficiently and effectively. This in turn helps the organization to meet its objectives. After all, the main role of an internal auditor is not to paint black on management rather than helping them to improve the over whole performance of the organisation
The good news for people considering entering the field is that it’s completely up to you! The even better news for aspiring new auditors is that there’s no need to decide on a career path immediately. Internal auditing has become one of the few professions with skill sets that are so transferrable to other business units within the organization that you can wait to decide your path until after you have some experience.
For those undecided about their future careers, internal auditing offers opportunities to visit different departments and locations, work with professionals in various areas of the company, and come to understand the risks and opportunities encountered in business units throughout the organization. It can be an unparalleled opportunity to make important career contacts and learn about company operations from the inside out. An assignment in internal auditing can be so beneficial for future career growth that a growing number of companies have started to mandate a rotation in internal audit for participants in executive development programs.
Almost paradoxically, the trend toward rotational auditing also has been beneficial for those of us who prefer to stay in the internal audit profession for the long term. The great majority of internal audit groups depend on a core team of seasoned audit professionals to supervise audit teams and perform management duties, and as rotational auditors leave the department and are replaced by inexperienced new staff members, promotional opportunities for the remaining experienced auditors are enhanced.
At the start of our careers, most of us are undecided about the best personal career path. Luckily, internal auditing has become one of the few true professions that will enable incumbents to pursue one of several excellent career paths. I personally have found that the versatility and challenge of internal auditing made it the right career for me. I am thriving on the almost unlimited opportunities to have an impact on my organization. But I also have seen talented new auditors who eventually decided that they needed to “make things” rather than “improve things,” or who decided they wanted to move their careers in completely different directions for other reasons. This is why I believe internal auditing will keep on being a rewarding career.
Thomas Enock
(B’com, CPA (T), CPB (T), CPSP (T), specialist banker’s certificate (TIOB) Msc. Finance)
Head of Internal Audit
African Banking Corporation Tanzania Ltd
Mob: +255714025888
Email: thomasenock@gmail.com or tenock@bancabc.com
