If you’re interested in accounting careers but aren’t sure which specific path to pursue, you may want to learn more about what internal auditors do on a day-to-day basis. Accounting in general is a strong career choice for organized, detail-oriented and quantitatively skilled individuals looking for a lucrative, secure career path that’s sure to provide boundless job opportunities. If you have a particular knack for putting together small details to form a larger picture and you’re comfortable working with financial documents, though, the career path of internal auditing could be a good fit for you. If you’re not sure about whether it would suit you or not, here are a few key things you should know about pursuing a career in this interesting and growing niche.
1. You Can Work Across Industries
When you specialize in internal auditing, you’re likely to have no shortage of job options. Because accountants and auditors are in high demand across sectors, you can explore different types of industries until you find something that you truly enjoy. Additionally, you can work in several types of organization structures. Whether you want to explore law firms, nonprofits or government work, you’ll have the opportunity to do so as an internal auditor. You can even combine your interests in accounting and another field by working as an auditor in that sector!
2. You’ll Become a Financial Documents Expert
If you’re still trying to decide between accounting and finance careers, you may be interested to read more about the differences between the two. The bottom line is that while finance careers may focus more on making a firm profitable by providing analysis, accounting and auditing careers in particular tend to focus on keeping companies honest by ensuring records are accurate. As an internal auditor, for instance, you’ll become a pro at putting together details from different records, poring over financial documents, writing thorough reports and more.
3. You’ll Be Well Paid
One of the best perks of working in the internal auditing field is that auditors tend to get well paid. According to a report by the Bureau of Labor Statistics, accountants and auditors brought home a median annual salary of $71,550 in 2019. Considering the job is often thought to be a classic nine-to-five and there are always job opportunities to be had, the pay in internal auditing could allow you to live out a comfortable life while still saving for retirement, kids’ college funds and more.
4. You Could Become a CPA
If you’re interested in taking your auditing career to the next level, there’s always the possibility of earning your certification as a Certified Public Accountant, or CPA. In order to be eligible for the CPA exam, you’ll need 150 semester hours in either a bachelor’s or master’s degree in accounting. Once you have a CPA, you could even start your own firm!
For individuals with strong quantitative skills, a knack for organization and an eye for details, internal auditing could be the perfect career. If you’re debating whether a career in internal auditing is right for you, keep these key facts in mind and you’re sure to make the right choice.
Author | Emily Forbes
An Entrepreneur, Mother & A passionate tech writer in the technology industry!