What Does a Certified Internal Auditor Do?
A certified internal auditor (CIA), is responsible for evaluating financial operations records of an organization, or various organizations. While an auditor does look over financial records, they are a separate entity that is not part the normal accounting team.
These professionals will monitor the company’s finances, and make recommendations on better management policies and financial decisions. Working a regular 9-to-5 job, a certified auditor must obtain a certification and have several duties:
- Reviewing current financial records
- Conducting tests and reports of current internal data
- Examine financial statements and inventory
- Examine payroll and related records
- Analyze current financials for illegal activities
- Examine current financials to reduce costs and increase profitability
A CIA will conduct all of these internal audits and provide reports to management. The goal is to overview the work of the financial department in an attempt to save money, find any fraudulent activity that may be occurring, help boost profitability, and ensure that taxes are filed correctly.
Many certified internal auditors will specialize in a certain area of expertise rather than a broad area. A CIA can choose to specialize in a variety of areas, including:
- Information systems
- Environmental policy
These professionals have been trained and taught to conduct audits to uncover fraudulent accounting practices. Businesses will often employ these professionals full-time, but there is also the option of working on a contract basis. It’s not uncommon for a CIA to work for many different companies wherein they conduct audits ensuring that the financials are properly filed by the current accounting team.
An internal audit may also be conducted when a business is planning on being sold or purchased to ensure that all of the financial information and inventory is properly filed. Auditors will not conduct the original filing, but will instead overlook the work that is done by a business’s accounting team to ensure that all the proper practices and figures exist.
Call ExamMatrix today with your questions about the certified internal auditor exam at (303) 768-0929!