A Look at the Duties of Today’s Internal Auditors
When we hear the word ‘auditor’ or any variation of it our minds race and our palms sweat. In the case of internal auditors though you really don’t have anything to get worked up about—unless you’re running a corrupt business that is!
An internal auditor is an accountant who works within a company or organization and keeps an eye on all the financial dealings of the company from the inside. What they’re looking for specifically is any kind of mismanagement, fraud or waste as far as funds or other materials go. That’s not all though. Internal auditors are required to examine everything from a company’s financial systems to their information systems and even their management procedures. The point of this is to make sure that all of the company’s records are completely accurate along with their controls. They use all of this information to make recommendations to the company on how to better control their data so that the company’s financial dealings are as secure as they can be. All in all, they ensure that everything is running in the most legal and cost effective manner possible.
These days, thanks to all of the advances in technology, an internal auditor is required and able to do more than ever before. It really isn’t just about numbers and finding problems in a company’s dealings but it’s also about assisting in the development and implementations of programs that are more efficient and work better for the company. Internal Auditors are often required to be a lot more tech savvy than they used to be in order to assist the company in many different ways so that both the company and those they deal with can be assured of integrity and cost effectiveness. They certainly have come a long way, haven’t they!