Is there anybody out there who is young and just starting out in the audit/compliance field? I'm finding it hard to relate to my co-workers and I'd like someone to talk to online and share "just starting out" experiences,joys, and frustrations about our new career.

I've been an Internal Auditor now for three months and enjoy it so far. Graduated from college a year ago and was a teller for a little over two-and-a-half years before getting this job. Just looking for someone I can relate to in this field!

I forgot to add, if any of you more experienced auditors out there have any solid advice for me or other new auditors, please share it!!!

I've been in auditing now for close to 8 years. Prior to that I worked in the Finance Department for 2 years (right out of college). My advice - eat in the lunch room and get to know as many people as you can. When people are no longer intimidated it will make your life much easier. Good luck to you.

I can relate! I can relate! I, too, am a newbie and proud of it. However, I was promoted within and the lunch room was not an issue. It was more like, I dont have to give you what you ask for or I'll have to ask my supervisor if I can give that information to you or even just plain ignoring your requests. Frustrating! Its all about respect. Once they learn that you are there to help them and not just to pick on them, it goes better. Good luck to you.

well, i ate lunch in the lunch room today and got to talk to a coworker on a casual level. great idea! i usually eat lunch at my desk since our lunchroom is about the size of my closet. in fact, i hardly ever leave my desk-- i come from the philosophy that you're at work to work, not to chit-chat. but i'm learning that chit-chat IS an important part of being an internal auditor. this notion is totally new to me, but i'm trying to adapt. thanks for the advice!

Quote:

---

i come from the philosophy that you're at work to work, not to chit-chat.

---

Actually, I think you are at work to make money so you can go do something worth while occasionally.

If you're at your desk, that's the first problem. You need to go into the unit you're auditing to let them know you're there. It's amazing what you can hear and see. They may not talk to you directly, but you'll certainly hear more there than you can at your desk. Also, get involved in company sports teams or clubs. You won't be an auditor forever and it's a good way to network into your next job.

i have been in audit 3 years and it is my first "real" job. i had never worked in banking before, so one of the first and best things i did was to visit each department for about a week to gain an understanding of each department functioned. plus i was able to meet and talk to everyone in those departments.

One thing I find really nice about this position is that you get to know everyone in the bank, not just at a certain branch or a certain department. Audit/Compliance and Human Resources are very fortunate in this regard...at least in my opinion.

If your bank allows it, another thing to consider is taking a branch manager, retail supervisor to lunch during the audit...or another department manager. I try to do this so that I can get to know who I am auditing, as well as they can get to know me to feel comfortable around me. Also, as in the lunch room, it is amazing what one can find out without even trying.

thanks so much for all the good advice! here's another question...
can anyone recommmend a good internal audit manual/text book? we have some here in our department but they are from the late 80's/early 90's! i don't need anything with audit programs in it, just something that talks about audit principals etc from a more modern standpoint.
also, i'd love to hear any more advice people might have!

Before you get started, do a risk assessment and outline your audit schedule. You probably already know that, but thought I would throw it out there.

You might do a search of the audit forum. We have had past discussions on this topic. I have a risk based auditing book by Alex Information that is good.

try audit.net also.

You may want to ask your External Auditors. They are a great resource.

It sounds like you are in an established dept, but the IIA offers some good guidance. Try Establishing an Audit Shop . Dig around that site a little and you should find something to help you.

Also, try the AICPA's Audit Committee Effectiveness Center.

Anyway, welcome aboard! We all have our days when we want to cut grass for a living, but for the most part, IA is interesting. As for advice, what everyone said is true. You gotta talk to people. Don't be afraid to ask questions. Be generally interested in their job, kids, hobbies, etc. Learn when something can be written up and when to turn a blind eye. And finally, remember that what is important to you is not always important to the person being audited.

BOL is a great resource. Stay connected. You've at least taken an important step by signing up.

Have fun!

I found that studying for the CIA exam by ordering the preparation books helped very much to understand auditing professional practices. The IIA is a wonderful resource at theiia.org

For the most part, I agree that getting to know your fellow coworkers is important, because, after all, you play for the same team. How you carry out your job duties is different, but internal audit exists to help ensure that the company stays on the right road to achieving its objectives. There's no need to be unkind or aloof, however, I would recommend that you exercise caution in how close you get as well. Don't get so close to someone that it impairs your objectivity in an audit. There may come a day when you have to report that your friend isn't doing the job, or worse, may even be committing some type of fraud. You need to be objective enough to report what needs to be reported.

I think that's why a lot of people think one of our IAs is mean, he never talks to anyone unless it is about a control failure or an exception. Every once in a while, I can get him to open up; of course, he doesn't pick on me... . He's really a nice guy, but he's all business.

Actually chit chat is so important that................

............ it is considered to be part of the complete audit process.

I feel the need to respond to my own post: interviewing is part of the complete audit process. I equated interviewing with chit chat. But IMHO, I have found that the information you get from others via casual conversation can reap rewards previously unrealized.

I'm pretty much a newbie myself...been internal audit with banking for about 7 months. Before that I had about a year of audit for a public accounting firm.

I too have found that it's important to build a relationship of trust with those that you are auditing. This helps, especially when you have to issue reports that may be unfavorable to those you know...but I've learned that you always discuss your findings openly and up front with them before issuing the report. Let them know what's going to be in the report before it goes up...this will help maintain that relationship of trust.

Just curious, but how many actually issue reports before presenting the information to the department manager and upper management?

I always discuss the items with the department first, then have an exit meeting with the manager and either the CFO or CEO or both, the manager then responds in writing to any exception items and then the final report is routed. I can't imagine the headaches if you didn't inform the department and management first before issuing a report to those involved and the audit committee.

Not me...all findings are discussed with the department head/manager and then I ask for the management response before it ever makes it to the AC.

Dipitous - it feels like I am in the same boat with you. I took over the compliance position almost a year ago now, and was also appointed BSA Officer a few months ago. I worked in the bank (several different positions... teller, new accounts, loan processor, etc.) for about 2 years while in college, then took my current position shortly after graduation. While my degree did help me get the job, it's not a bank-related degree...so I had to start learning compliance/audit from scratch. And there is a LOT to learn. I still rely on BOL pretty much daily! (Thanks guys!)

Being hired from within the bank was a big advantage, since I knew the workings of several different bank departments...but the disadvantage is trying to get your previous supervisors to understand that changes are necessary and you aren't trying to make them look bad to make yourself look good.

I don't have many suggestions (I found the best training was external auditors and networking at compliance schools is a must), but thank you to all you other seasoned veterans who gave such good advice - especially on how not to be hated!