Comparing External Audit to Internal Audit, and the Experience of Transitioning From One to the Other


The profession of External Audit and Internal Audit have numerous similarities and differences. However, it is not always a simple transition to move effectively from one to the other. Many of these challenges relate to academic credentials and knowledge, work experience, ability to deal with change and ambiguity, learning new standards and audit procedures, working with a wide variety of systems, soft skills, and a different mindset with regards to independence. Learn how many have made the transition successfully and how some have not, and why. The reality is that financial professionals account for a large portion of the skill base for internal audit groups. The facilitators will use real life examples based on their extensive experience managing audit teams and highlighting large Internal Audit Shops with specific programs, and how they recruited External Auditors to become Internal Auditors. They will outline what this process looks like, training strategies, and common pitfalls where it just did not work for some individuals.