Pursuing a fulfilling and successful career as an internal auditor requires setting clear goals for professional growth and advancement. There are many possible objectives internal auditors should consider at various stages of their careers.
The S.M.A.R.T. methodology allows the creation of well-defined goals that are Specific, Measurable, Achievable, Relevant, and Time-bound. S.M.A.R.T. goals provide focus, motivation, and measurable steps to accomplish objectives like earning certifications, developing specialized skills, taking on leadership roles, and progressing through the ranks.
1. Become a Certified Internal Auditor (CIA)
The CIA designation is a valuable credential that can help internal auditors advance their careers. To earn the CIA designation, internal auditors must have a bachelor’s degree, two years of experience in internal auditing, and pass a rigorous four-part exam covering key internal auditing knowledge areas. Obtaining the CIA shows a commitment to the profession and expertise across the internal audit process.
2. Develop Specialized Knowledge
Internal auditing is a broad field, and there are many areas of specialization, such as IT auditing, fraud auditing, and compliance auditing. Developing deep expertise in a specific area allows internal auditors to take on more responsibilities and become leaders in their niche. Specialized knowledge also makes internal auditors more marketable for promotions or new job opportunities.
3. Take on Leadership Roles
As internal auditors gain experience, they can take on more leadership roles within the internal audit department. This could include leading audit teams, managing projects, developing audit plans, implementing new methodologies, and coordinating with external auditors. Demonstrating leadership helps position internal auditors for higher-level management roles.
4. Transition into a Management Role
The skills and experience gained as an internal auditor prepare professionals well for management positions such as Audit Manager, Chief Audit Executive, Director of Compliance, and Risk Management Director. Moving into management allows greater influence on departmental strategy while overseeing teams and operations.
5. Move into a Consulting Role
Some internal auditors leverage their expertise to transition into independent consulting roles. As consultants, they can work with a variety of organizations on assessing risk, enhancing internal controls, and adding value around compliance, governance and assurance. Consulting experience enhances perspectives.
6. Become Certified in Risk and Information Systems Control (CRISC)
The CRISC designation demonstrates expertise in IT risk management and control. Obtaining this certification can help internal auditors specialize in technology auditing. The CRISC requires passing an exam and having at least three years of relevant work experience.
7. Become a Certified in Control Self-Assessment (CCSA)
A CCSA certification exemplifies skills in control self-assessment (CSA) processes. Earning the CCSA involves passing an exam and having at least two years of CSA work experience. This distinguishes internal auditors with CSA proficiency.
8. Become a Certified Government Auditing Professional (CGAP)
Internal auditors in the public sector should consider obtaining their CGAP. This involves passing a comprehensive exam on government auditing topics and standards. Two years of experience in government auditing is required to qualify for the CGAP certification.
9. Become a Certified Fraud Examiner (CFE)
Specializing in fraud auditing, detection and prevention can be facilitated through the CFE certification. It requires passing an exam covering financial transactions, fraud schemes, controls, and rules of evidence. Two years of anti-fraud work experience is needed.
10. Become a Certified Internal Controls Specialist (CICS)
Internal auditors focused on internal control evaluation can earn the CICS certification. It involves passing an exam on internal control frameworks, risk assessment, control testing, and reporting. Two years of relevant work experience is required to qualify.
11. Achieving Work-Life Balance
Pursuing ambitious career goals shouldn’t come at the expense of mental health and personal relationships. Maintain work-life balance by:
- Not taking on too many goals at once
- Prioritizing and scheduling goals wisely
- Seeking company support and accommodations
- Using vacation time strategically
- Setting aside free time for self-care
- Communicating goals with loved ones
With the right balance, internal auditors can advance their careers while enjoying a fulfilling personal life.
Why Set Goals for an Internal Auditing Career?
Setting clear, defined goals is critically important for internal auditors seeking to advance their career. Well-conceived goals provide several key benefits:
- Goals give direction and motivation for ongoing professional development. They provide a roadmap for acquiring skills, knowledge, and experience needed to progress.
- Goal setting allows creating strategic plans to qualify for promotions within the organization. Required certifications, leadership roles, and competencies can be obtained methodically.
- Goals ensure internal auditors intentionally enhance their expertise and abilities to take on greater responsibilities and complex audits. Growth is driven by goals.
- Maintaining focus on higher-level goals keeps internal auditors working to achieve new positions and titles within the department and organization. Goals drive upward mobility.
- Stretch goals provide long-term objectives beyond day-to-day auditing tasks. This brings broader meaning and satisfaction.
- Working toward clear targets increases job satisfaction and engagement through purposeful career planning.
In summary, well-defined short and long-term goals keep internal auditors actively developing and progressing toward achieving career ambitions. Goals Manifest professional and personal growth.
Achieving Career Success
By setting targeted career goals aligned with their interests and aptitudes, internal auditors can chart a course for professional advancement. Combining meaningful credentials, specialized expertise, leadership development, and management aspirations allows internal auditors to realize their full career potential.
