Weighing the Options: Internal Audit or IT Audit?
As a seasoned Chartered Accountant and Certified Internal Auditor with over six years of experience, I’ve had the opportunity to navigate both local and international landscapes, working with industry giants such as the Big 4 firms. My professional journey has predominantly been within the realms of Internal Audit (Operations) and Enterprise Risk Management.
Reflecting on my career, I’ve observed that the path to advancement in Internal Audit is quite accessible. Many enter the field with diverse educational backgrounds, securing entry-level positions and eventually earning designations like CA. It’s a profession where, with dedication and expertise, one can ascend to roles such as manager, partner, or even Chief Audit Executive (CAE). At my previous stint with a Big 4 firm, I witnessed a colleague transition from external audit to risk advisory. Within a year, they advanced to a managerial position. Meanwhile, others with extensive experience and credentials like the CIA and CA continued to operate in their advisory roles without similar promotions.
Conversely, IT Audit presents itself as a more niche specialization. Becoming a subject matter expert in this area requires a distinct skill set and often the Certified Information Systems Auditor (CISA) credential. This path tends to emphasize the need for technical expertise, which is crucial for significant career advancement. Interestingly, in Internal Audit focusing on operations, reaching managerial or higher ranks does not strictly necessitate a CIA.
Looking ahead, my aspirations include acquiring the CISA certification. My goal is to excel as a CAE who adeptly handles both operational and IT audit challenges.
I’d love to hear your thoughts on this. Do you share similar views regarding the fields of Internal Audit and IT Audit? Do you consider the specialization in IT Audit and its domain knowledge more advantageous?
I want to emphasize my respect for Internal Audit Operations, a field I’ve been passionately involved in for over six years.
I look forward to engaging with you in the comments below. Thank you!
One response
Thank you for sharing your insights and experiences, which undoubtedly resonate with many professionals navigating the realms of Internal Audit and IT Audit. Your observations point to a fundamental truth about the Audit profession: there are diverse paths one can take, each with unique advantages and challenges.
Understanding the Appeal of Each Path
Variety and Exposure: The scope in Internal Audit is broad, allowing exposure to various facets of an organization, which can be intellectually satisfying and beneficial for career breadth.
IT Audit:
Practical Advice for Dual Expertise
Given your ambitions to excel in both areas, here are some practical steps to consider:
Certifications and Continuous Learning: Pursuing the CISA certification is a wise step, as it will bolster your credentials in IT Audit. Simultaneously, continue enhancing your operational audit knowledge, perhaps through additional certifications or advanced courses in risk management and control frameworks.
Cross-Functional Projects: Seek opportunities to participate in cross-functional projects that involve both IT and operational audit aspects. This experience can help you build the necessary skills and credibility in both domains.
Network and Mentorship: Engage with professionals who have successfully traversed both fields. Their insights can guide you in maneuvering the complexities of each, potentially providing mentorship or opening doors to hybrid roles that leverage both skill sets.
Thought Leadership: Share