What is a contractor auditor and how to become one

While the COVID-19 pandemic has created numerous challenges across industries and professions, it also has created opportunities for internal auditors at all levels, including those new to the profession, to step up and play a role in helping their organizations navigate through the issues to ensure positive outcomes.

"Based on our research, accounting/finance remains the most recruited academic degree, but the evolving nature of business and risks demands having individuals who bring a broader array of skills into the internal audit workplace. There's also an accelerated movement for what I call "Uber" auditors, those who may not be on staff but whose experience in, for example, cybersecurity or AI, are sorely needed. Graduates may find the first critical step in their career is specialization rather than generalization, so an education - perhaps even a dual degree - in technology, for example, may make you more appealing.

Additionally, internal audit employers are demanding strong soft skills, such as effective verbal and written communications, relationship acumen, critical thinking, and an eye for detail.

Early during the pandemic, we saw some tightening among internal audit departments, as most organizations were making adjustments overall due to the economic impact of COVID-19. Based on additional research, however, we know opportunities still exist in this environment and when we return to 'normal.' In this year's Pulse of Internal Audit survey, of the respondents who filled positions in the preceding 12 months, 47% reported they hired professionals who had not been internal auditors previously. A notable 28% of respondents had hired students or recent graduates, as well.

The IIA has begun a new program, in collaboration with AuditBoard, to provide existing internal auditors and those pursuing a career in the profession, including college students and graduates, access to training and educational courses provided by The IIA for those who have been adversely affected by the COVID-19 pandemic and related economic pressures. The $500,000 'Elevate Internal Audit Scholarship Program' is providing scholarships that can be used to participate in IIA training and certification programs regardless of their professional level or ability to pay. More information on the scholarship program, including how to apply, can be found on The IIA's website at www.theiia.org.