Monday, October 7, 2013

Does industry specialization limit internal auditors' careers?

Industry specialization is a good thing! This is at least what employers and hiring managers are telling us because it improves audit quality! Not everyone agrees with this, a recent study by the University of Miami published in June 2013 concluded that there is no evidence to support such a claim!

But, is specialization good for internal auditors? Does it limit our career path to certain industries because the perception is, as an example, if you are a bank auditor you can't effectively audit a manufacturing company?

The golden rule is that " you can't audit what you don't understand "! The question here is: does "understanding the operations " of an organization means that you need to be an industry expert? I am personally not sure if this is the case! Understanding the business is the key to a successful audit and this understanding nowadays can be achieved in a relatively short period of time for a willing auditor!

These are my thoughts, please share your thoughts and experience.

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