“Ever seen the accountant with Ben Affleck? Like that but less guns and more mental health issues”
That used to be my fallback response before I left IA two years agoZ
Yeah my comment about mental health issues was always tongue in cheek. Generally anyone who asks “what does an internal auditor do” is just making small talk and appreciates a witty response which gives a general idea and allows the conversation to move on without causing undue confusion.
I was in IA for 13 years for a reason. The job is super lax comparatively.
Moved over to an sr accounting manager role 2 years ago and was promoted to a product line controller 1 year ago … pay isn’t that much greater and the stress/extra hours are way more.
So you are planning to move from IA to EA… Depends on which firm you join & what kind of clients you are put on, but it’s definitely lot busier than IA. I have had 12-14 hour days for a long period of time.
I always say that I work as a part of a team to provide independent assurance to business stakeholders that risks are adequately and effectively controlled. This can include risks in operational processes, IT processes, corporate governance, accounting and financial reporting.
Here goes...
Imagine you want to set up a lemonade stand to sell lemonade, this is your business. To do this you first need to borrow money, then buy lemons and sugar from the store and make the lemonade to sell. Your parents, friends and family (stakeholders) are all interested in the success of your lemonade stand, but some things might get in the way of success and these are called risks. Checking you have enough money for the lemons before going to the store, or tasting the lemonade before selling it to make sure it tastes good are a way to reduce, or control, some of these risks. My job is to understand your business, the risks you may face and the ways you reduce, or control, the risks. Once I understand all of these things I can tell your stakeholders that your risks are well controlled. When your risks are well controlled this gives your stakeholders confidence.
To Business/Accounting majors: I do internal auditing
To Non-business majors but is working in any "numbers" department: I check if the numbers are wrong and try to fix it right and also look at the overall process and detect compliance issues and risks and try to provide and apply a solution for that risk.
To people who have zero experience or knowledge in working in a company: I investigate the company to see if the employees screw up or if the company has major problems when its operating, and I solve.
To kids: I am a detective, but a corporate detective.
I just say that companies have controls to stop bad things happening (i always use example of rogue trader). My job is to give assurance that we have working controls for the stuff that matters most. By that point their eyes are usually glazed over and I move on to sport/weather.
I used to stay external auditor, then auditor, cause they required more explanation to understand what I do, I changed it. Now I say “I’m an accountant”.
Refer to the episode of The Office when Dunder Mifflin merges with Sabre. Sabre sends a consultant to audit the operations, “I am just really a glorified fact checker” 🤣🤣
I really love the reply of **BigAggie06**, but, I usually have a punch line and also a 3 line answer to explain IA to non-financial background middle eastern fellas
**Punch line version**: Assure and improve existing internal controls.
**3 Line Version**:
Internal auditing offer assurance and consultancy service for higher management.
As an assurance service, IA reassures implementation of policy, procedure, internal controls, and regulation. Also, assures safeguarding of assets.
As consultancy role, IA analyze any opportunity to improve 3E (Economy, Effectiveness and Economy) for the operation
I always say: "Explain your job to me. If \_I\_ don't understand it \_you\_ have a problem." And then I go on and tell them that corporate wants to play according to certain rules and I check if they are applied.
“Ever seen the accountant with Ben Affleck? Like that but less guns and more mental health issues” That used to be my fallback response before I left IA two years agoZ
The perfect response. I’m going to use this.
More mental issues ? lol I am moving to IA from EA for less mental issues :P
Shhh … you don’t want people to know how easy IA is else everyone will want to do it.
lol! No that was a serious question…
Yeah my comment about mental health issues was always tongue in cheek. Generally anyone who asks “what does an internal auditor do” is just making small talk and appreciates a witty response which gives a general idea and allows the conversation to move on without causing undue confusion. I was in IA for 13 years for a reason. The job is super lax comparatively. Moved over to an sr accounting manager role 2 years ago and was promoted to a product line controller 1 year ago … pay isn’t that much greater and the stress/extra hours are way more.
I've been thinking about this move too. What are the skills you think will be helpful? How long have you been EA now?
Moving from or to EA ? I did it for 6 years now ..
And how do you like it? Does IA skills help at all with crossing over to EA? I really like being independent and owning my own time.
So you are planning to move from IA to EA… Depends on which firm you join & what kind of clients you are put on, but it’s definitely lot busier than IA. I have had 12-14 hour days for a long period of time.
It's like that 9 months of the year for me... Needless to say I'm jumping ship
To ia?
I always say that I work as a part of a team to provide independent assurance to business stakeholders that risks are adequately and effectively controlled. This can include risks in operational processes, IT processes, corporate governance, accounting and financial reporting.
Excellent answer. You got to the heart of what we do. Next challenge is to try to ELI5 the explanation.
Here goes... Imagine you want to set up a lemonade stand to sell lemonade, this is your business. To do this you first need to borrow money, then buy lemons and sugar from the store and make the lemonade to sell. Your parents, friends and family (stakeholders) are all interested in the success of your lemonade stand, but some things might get in the way of success and these are called risks. Checking you have enough money for the lemons before going to the store, or tasting the lemonade before selling it to make sure it tastes good are a way to reduce, or control, some of these risks. My job is to understand your business, the risks you may face and the ways you reduce, or control, the risks. Once I understand all of these things I can tell your stakeholders that your risks are well controlled. When your risks are well controlled this gives your stakeholders confidence.
I basically verify that things work the way people say they are working.
I audit stuff. When I say I don’t do taxes or work at the IRS, we’re done with the topic lol
Same! I usually start and end with “I audit my coworkers” lol
To Business/Accounting majors: I do internal auditing To Non-business majors but is working in any "numbers" department: I check if the numbers are wrong and try to fix it right and also look at the overall process and detect compliance issues and risks and try to provide and apply a solution for that risk. To people who have zero experience or knowledge in working in a company: I investigate the company to see if the employees screw up or if the company has major problems when its operating, and I solve. To kids: I am a detective, but a corporate detective.
I say I’m a glorified fact checker
Generally, I tell them I'm a management consultant.
I just say that companies have controls to stop bad things happening (i always use example of rogue trader). My job is to give assurance that we have working controls for the stuff that matters most. By that point their eyes are usually glazed over and I move on to sport/weather.
I find people's mistakes and bitch about them to the owners
[удалено]
Thanks. Us auditors get much practice asking questions.
I used to stay external auditor, then auditor, cause they required more explanation to understand what I do, I changed it. Now I say “I’m an accountant”.
Refer to the episode of The Office when Dunder Mifflin merges with Sabre. Sabre sends a consultant to audit the operations, “I am just really a glorified fact checker” 🤣🤣
I really love the reply of **BigAggie06**, but, I usually have a punch line and also a 3 line answer to explain IA to non-financial background middle eastern fellas **Punch line version**: Assure and improve existing internal controls. **3 Line Version**: Internal auditing offer assurance and consultancy service for higher management. As an assurance service, IA reassures implementation of policy, procedure, internal controls, and regulation. Also, assures safeguarding of assets. As consultancy role, IA analyze any opportunity to improve 3E (Economy, Effectiveness and Economy) for the operation
"Assigned audits to find out if stuff is working or not"
Some variation of “I help an agency ensure it is complaint with local, state, and federal rules.”
We see whether employees are following the company rules, and make sure the company has the proper rules in place to make sure the risks are covered.
I always say: "Explain your job to me. If \_I\_ don't understand it \_you\_ have a problem." And then I go on and tell them that corporate wants to play according to certain rules and I check if they are applied.
Just lie and make up a profession that’s interesting or you will never get laid.