5 Myths About internal Audit

1. Internal Audit is a burden(cost centre) on company : A well organised Internal audit function is boon for any company
2. Internal Auditors are only fault finders : Internal auditors are watch dogs. They not just find faults but also provide solutions for the process lapses.
3. Internal Audit is an easy Job : 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
4. Internal Auditors revolves around finance only : 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
5. Internal Audit is a low paying job profile : No. It isn’t. If you are into core internal audit then you won’t find yourself under paid.