University of Phoenix
Internal Control Systems
February 08, 2013
An internal auditor is a person who works for a company and learns everything about the company and has intricate knowledge of the workings. They will work specifically in one company and be able to concentrate on everything in the company. Auditors can catch problems when they arise and bring them to attention to the people in charge before releasing reports so there are no problems. They also guarantee systems are working correctly and safeguards are in place and working properly. One last thing is that possessing an internal auditor will save company money from having to hire a person to bring in and complete his or her audits. Qualities
At the very least an internal auditor should have a Bachelor’s degree in Business Administration but some companies prefer a Master’s degree in Accounting. Although the Bachelor’s degree would provide basics and a simple knowledge of the expectations of the person the Master’s would be much more in-depth and cover every area a person would need. In completing an internal audit a person needs to know everywhere to look in the company to find every aspect that affects profits and cause problems. Financial reports present complications and difficulties for the average person to read and understand. A person needs trained on what to look for and where to look. A Master’s program will teach a person what he or she needs to look for and where. It will also give them a platform to build on. They will learn about and what safeguards to check and ensure they are working properly and what systems to check. To give a person more credentials and show he or she has the ability and knowledge to be an internal auditor I believe they should have certification. If they are a certified internal auditor they have more experience and backing than a person who just has the job of an...