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Accounting Information > Other Types of Accounting > Internal Auditing
Internal Auditing

Internal auditing used to be mainly a simple clerical function. Now it is a full-fledged profession. The responsibilities have increased, and along with that, the techniques and procedures used have been updated. In the past, only financial matters were evaluated by internal auditors, but now internal auditors are involved in non-financial matters as well.


The importance of internal auditing has increased over the years. This is due to organizations getting so much larger and many organizations having multiple locations. It is common now for internal auditors to report directly to the audit committee of the board of directors. The Institute of Internal Auditors (IIA), in its standards, states that the internal audit function benefits the entire organization, not just the management of the organization.

The Institute of Internal Auditors was formed back in 1941. It is an international organization that is dedicated to the continuing professional development of both the internal auditing profession and the individual internal auditor. The IIA has approved a Standards for the Professional Practice of Internal Auditing, developed a continuing education program, adopted a Code of Ethics, developed a Common Body of Knowledge, and started a certification program which results in the internal auditor earning a designation as a certified internal auditor (CIA).

The Standards for the Professional Practice of Internal Auditing are the equivalent for internal auditors of generally accepted auditing standards for external auditors. The areas included in the standards are independence, scope and performance of work, professional proficiency, and management of the internal audit department. There is an examination to pass to become a CIA that is similar in length and intensity to the CPA exam.

You would not generally think of an internal auditor as being independent, since he or she is auditing the information of the company that employs him or her. However, attempts are made to increase the level of independence to the extent possible. One way this is done is to have the internal auditor report directly to the board of directors. This decreases the influence that management has on the internal auditorís work, and also ensures that the audit results will be considered at the maximum level of the corporation.

Because of the nature of the work, an internal auditor is exposed to many facets of the company very rapidly. They also experience a large degree of exposure to the management of the organization. Internal auditors also get to use a wide variety of accounting, auditing, and interpersonal skills in the performance of their work. Since the internal auditor gains a thorough understanding of company operations, internal auditors are frequently promoted to positions in top management.

Are you looking for someone to help you with your auditing, tax accounting, general accounting, cost accounting, or bookkeeping needs? Do you need someone to help you with internal auditing? You have come to the right place! Try the CPA search feature on this website to find a qualified professional in your area to help you with all your tax and accounting needs.

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