The Truth about Internal Auditing: Is It All It’s Cracked Up to Be?
Having spent four years in the realm of internal auditing for a bank, I’ve found myself grappling with a profound sense of dissatisfaction. At first, I attributed this discontent to management-related issues, but increasingly, it appears to stem from the industry itself. Here’s why:
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A Culture of Entitlement
The industry appears to foster a sense of entitlement, with professionals often believing their roles are of greater significance than those of others within the organization. -
Quantity Over Quality
Success seems to hinge on the number of observations we manage to document, rather than addressing substantial issues that could truly enhance processes and create value. -
Tactics Over Transparency
Instruction from superiors often centers around using manipulative tactics to uncover errors, rather than opting for straightforward and honest communication. -
Questionable Impact
Despite our efforts, it sometimes feels as though we contribute little to the organization. Our team is mostly sidelined from operational involvement, and we rarely detect actual fraud, a duty largely handled by compliance teams. Our presence might ensure adherence to procedures at branch levels, albeit minimally. -
Unnecessary Pressure
Our daily interactions often add pressure on colleagues, demanding they fulfill our requirements in addition to their workloads, which adversely affects morale.
This experience has led me to wonder: is internal auditing a career path that attracts only those who view themselves as superior to others? The question remains open for debate, but it’s clear that introspection and change might be overdue for the industry to attract and retain passionate professionals looking to make a meaningful impact.
One response
Internal Audit, like many professions, can vary widely in how it is practiced and perceived, heavily depending on organizational culture, management style, and individual career paths. It’s understandable that you feel disillusioned, but it’s important to note that the role of an internal auditor, when executed effectively, can be invaluable to an organization. Here’s a balanced perspective and some practical advice for you as you contemplate your sentiments towards the field:
Understanding the True Value: Internal auditing, at its core, is designed to provide independent assurance that an organization’s risk management, governance, and internal control processes are operating effectively. When done right, it can help prevent financial discrepancies, improve efficiency, and enhance accountability by identifying weaknesses that need attention. The ultimate goal should always be to provide value, not merely to count infractions.
Navigating Organizational Culture: It’s regrettable but true that some environments foster toxic behaviors, such as arrogance or entitlement. This is not inherent to auditing itself but rather reflective of a specific workplace culture. Consider discussing these observations with HR or seeking mentorship within or outside your organization from seasoned professionals who practice with integrity and sincerity.
Emphasizing Genuine Engagement: Rather than focusing on fault-finding, consider pivoting your approach to become more of a consultant than a critic. Aim to engage in honest dialogues with your colleagues about how processes can be improved. Highlight areas for development while delivering recommendations constructively. Developing relationships based on trust and mutual respect can lead to more rewarding outcomes.
Career Reflection and Development: If internal auditing as practiced at your current organization doesn’t align with your values, it might be worth exploring other opportunities within the field. Different companies or industries may have more robust and ethical Audit functions. Alternatively, consider career development in related domains such as risk management, compliance, or operational roles where your skills are transferable and could provide a fresh perspective.
Mental Resilience and Professional Growth: Work stress is a common challenge across many professions. Engaging in continuous professional development can help shift focus from immediate frustrations to long-term career fulfillment. Whether through certifications like CIA (Certified Internal Auditor), workshops, or networking groups, professional growth can often reignite passion or open doors to new opportunities.
Addressing Ethical Concerns: If manipulation or unethical behavior is being encouraged, it might warrant raising these issues formally. Most organizations have channels for reporting unethical practices confidentially.
Overall, internal auditing isn’t a scam by nature, but certain