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Category: opinion

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…

Admin June 6, 2021

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Why your company should have In-house Internal Audit team

here are also some advantages of having external firm as internal auditors but its always recommended to have in house internal audit team for some re…

Alkit May 16, 2021

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Forum Description

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

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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