Blog: Fact or Myth: Internal Auditors Are All Accountants

In his blog, IIA President and CEO Richard Chambers, CIA, QIAL, CGAP, CCSA, CRMA, shares his personal reflections and insights on the internal audit profession. Here’s an excerpt from his latest post:

Last week, I found myself once again in front of accounting students at one of the nation’s top universities. I was joined by The IIA’s chairman of the board, Naohiro​ Mouri. We were there to create awareness about internal audit opportunities for soon-to-be accounting graduates. But we had to walk a delicate line when encouraging these students to pursue a career in internal auditing. We talked to them about the amazing opportunities in internal auditing, but we had to admit that they likely would not be dependent upon the accounting skills they are learning in college.

Six years ago, I wrote here that one of the most common myths about internal auditing was that all internal auditors came from an accounting background. At that time, internal audit plans and schedules were devoting more resources to operational issues. Compliance reviews were on the upswing, technology risks were growing exponentially, and many internal audit departments were starting to offer new consulting services. As a result, experts predicted that, within a few years, most internal auditors would come from nonaccounting backgrounds.

Since then, our profession has indeed become more diverse, and today most of our audits focus on nonfinancial issues. According to The IIA Audit Executive Center’s 2018 Pulse of Internal Audit survey, less than a quarter of internal audit efforts are allocated to financial-related risks. So, does that mean internal auditors aren’t accountants anymore? The answer is not as straightforward as it may seem.

Read the full Internal Auditor Online blog post from IIA President and CEO Richard Chambers.