5 Myths About Internal Audit

5 Myths About Internal Audit

Myth – Internal Audit is a burden(cost centre) on company

Reality: A well organised Internal audit function is boon for any company

Myth: Internal Auditors are only fault finders

Reality: Internal auditors are watch dogs. They not just find faults but also provide solutions for the process lapses

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Myth: Internal Audit is an easy Job

Reality A lot of people argue that finding a fault in some process is very easy but doing the same task on a daily basis is tough. My point is, how can an Internal auditor find a loophole in a process if he doesn’t understand it completely. For example, there will be some grammatical errors in this post and only those can find them, who have a good command over English. Also, the level of learning in this profile is unmatchable

Myth : Internal Auditors revolves around finance only :

Reality: Internal audit basically covers each and every aspect of the organisation. If you are keeping yourself limited to finance, then probably you are not exactly doing internal Audit

Myth ; Internal Audit is a low paying job profile :

Reality : No. It isn’t. If you are into core internal audit then you won’t find yourself under paid. Pay depends upon industry to industry

Written by : Alkit Jain

https://www.linkedin.com/in/alkit-jain-3126a980/

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