Tuesday, September 8, 2020

If you can’t be an internal auditor anymore, what other career options would you consider?

 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!

Assuming you decide that career change is in your future, what would be your preference?

Please share your thoughts.

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