Considering a Career Change to Auditing?
I’m contemplating a shift in my career towards auditing, but I’m unsure how to navigate this transition without relevant experience. I hold a bachelor’s degree in Accounting from a four-year university and have been in the workforce since 2015. Going back to school full-time has proven difficult as I’m currently balancing a job and financial responsibilities.
Recently, I interviewed for an internal Audit position at my current company, but unfortunately, I wasn’t selected because I lacked direct experience. It was disappointing, especially since I was enthusiastic about the opportunity. This experience reinforced my concern that breaking into a new field may be challenging without a solid background.
I’ve never worked for a Big Four firm and didn’t aspire to do so, yet I believe that auditing aligns well with my skills and work ethic. To bolster my qualifications, I enrolled in an advanced Accounting course online this semester with the goal of pursuing my CPA. However, the experience has been frustrating—the professor doesn’t teach, and I wasn’t aware that there are no online lectures or meetings. I’m finding it tough to grasp the material through self-study alone, especially when it comes to applying various concepts like fair value, book value, controlling interests, and premiums.
Has anyone here transitioned into auditing from a different area of Accounting? If so, what strategies did you use? Is further education essential for this path? Also, is it necessary to be a CPA to work in auditing? Thank you in advance for any advice you can share!
One response
Making a career change can be challenging, but your background in Accounting is a solid foundation for moving into Audit. Here are some thoughts and tips based on your situation:
Leverage Your Existing Knowledge: Your bachelor’s degree in Accounting provides a strong base for understanding financial statements, compliance, and regulations. Emphasize your existing knowledge in your future applications and interviews, as foundational concepts in Accounting directly relate to auditing.
Consider Entry-Level Audit Roles: While you might be aiming for internal Audit positions, starting with entry-level audit roles (like staff auditor or audit associate) at smaller firms or even within your current organization’s finance or compliance departments could be beneficial. These positions may require less direct experience and can help you build the necessary skills.
Networking: Reach out to professionals already working in auditing. Consider informational interviews to gain insights into their career paths and ask for advice on transitioning. Networking can sometimes lead to job opportunities that aren’t advertised.
Professional Certification: While a CPA is not strictly necessary, it is highly valuable in the field of auditing. Starting the CPA process can enhance your resume and demonstrate your commitment to the profession. You might also explore other relevant certifications, such as Certified Internal Auditor (CIA) or Certified Information Systems Auditor (CISA).
Study Strategies: It sounds like you’re struggling with your online accounting class, which is common. Consider study groups or online forums where you can connect with other students. Additionally, resources like tutoring, study guides, or utilizing video lectures from reliable sources could help clarify concepts.
Internships or Volunteer Opportunities: Look for internships or volunteer opportunities that involve audit work or financial reviews, even if they are unpaid. This experience can significantly enhance your resume and give you a clearer understanding of the audit landscape.
Tailored Applications: When applying for audit positions, tailor your resume to highlight any relevant skills or experiences that align with auditing, even if they’re not traditional audit roles. Focus on analytical skills, attention to detail, and any projects where you’ve contributed to compliance or risk management.
Stay Persistent: Transitioning careers often requires persistence. Keep applying for positions, even if you face rejections. Each application is a chance to refine your resume and interview skills.
Remember, many successful auditors come from diverse backgrounds. It’s possible to make the transition; it just might take some time and strategic planning. Good luck!