The recent survey results published by The Insitute of Internal Auditors (COVID-19: THE INITIAL IMPACT ON INTERNAL AUDIT WORLDWIDE) suggests that about 20% of internal auditors have lost their jobs permanently and temporarily worldwide. While the staffing decrease in internal audit was described as more likely to be temporary (14%) than permanent (5%), it is a sad fact that some internal auditors may not be able to find a job in internal audit in the near future.
If you face this situation, what would you do:
- Never give up: keep networking until you land an internal audit position. In the meantime, you continue to keep yourself up to date with the profession and develop new skills.
- Consider a career change. You may consider accounting, finance, management, or other operational positions for which you feel you have sufficient minimum experience to enable you to start working without hurdles.
- Start over from scratch: go back to school and obtain a degree in another field of study.
- Become a freelance consultant
- Call it a quit and retire (depending on your age and financial health)!
- None of the above. You will come up with another innovative option!