An Auditors Journey | Auditors Career Path

An auditor's Hierarchy & Progression with the role

Auditing is a key component of providing governance / assurance around a company's operating and financial processes. It ensures compliance with laws and regulations while identifying areas where the business can improve, where risk controls could be enhanced and also where missed opportunities maybe found.

But have you ever wondered what an individual Auditor's Professional Journey looks like?

Here's a quick rundown of the stages an auditor goes through in their "Career Lifecycle".

Stage 1: The Apprentice

For many aspiring auditors, their journey begins as an intern where one learns the basics of auditing, assists with documentation, and gains exposure to the audit process. Internships provide valuable hands-on experience and allow individuals to work alongside experienced professionals, laying the foundation for their future careers.

The Apprentice provides assistance

Ideal Key attributes include:

▨ An interest and keenness to learn

▨ The ability to explore business processes with an inquisitive mind ▨ Turn up on time with your game face on

Stage 2: The Auditor

After completing their studies and acquiring the necessary certifications [CIA EXAM] audit professionals typically start their careers dedicated to auditing. In this role, they work on audit engagements directly, conduct tests, analyze financial statements, and they identify risks and weaknesses in control processes. Being an Auditor requires attention to detail, analytical skills, and the ability to effectively communicate findings to management.

The Audit provides enablement

Ideal Key attributes include:

▨ Logical & Analytic Skills

▨ Some Commercial Awareness

▨ Ability to identify & escalate findings

In Causal Capital we run hands-on Risk Based Audit masterclasses that are specially design to support The Auditor and Their Managers [Certified Risk Based Auditor] in their work settings.

Stage 3: The Manager

As auditors gain experience and expertise, they may advance to the role of Manager. Managers oversee audit engagements, supervise a team of auditors, and ensure the timely completion of audits. They also collaborate with stakeholders to implement audit recommendations and contribute to the development of audit plans and strategies.

Being a manager not only requires technical proficiency but also leadership and organization skills.

The Audit Manager provides guidance

Ideal Key attributes include:

▨ Sound Project Management Skills

▨ Ability to Supervise and liaise with stakeholders

▨ Working on Leadership Skills

Stage 4: Senior Auditors

The next stage in an audit professional's journey is the move into a Senior Auditor role. Senior Auditors usually have extensive experience in auditing and play a crucial role in leading complex audit engagements with their more junior audit team.

They review the work of other team members, conduct more advanced audit procedures, and provide guidance and mentorship. Senior Auditors also contribute to the development of audit methodologies and play an active role in fostering a culture of continuous improvement.

The Senior Auditor provides expertise

Ideal Key attributes include:

▨ Subject Matter Expertise

▨ Leadership & Mentor Skills

▨ Critical Thinking Capability

In Causal Capital we run hands Project Based Practical Masterclasses to help auditors with their Risk Based Quantitative analysis skills [Quantitative Risk Based Auditor].

Stage 5: The Audit Director

Upon reaching the Director level, audit professionals have achieved a high level of expertise and leadership capability. Directors oversee multiple engagements, manage audit budgets, and they engage with executive management and board committees. They provide strategic insights, drive enhancements to the audit function, and ensure the delivery of high-quality audit services. You need to be able to set the quality standard and identify how to measure success.

Directors possess excellent communication and relationship-building skills that enable them to influence business decisions and provide valuable guidance.

The Audit Director provides intermediation

Ideal Key attributes include:

▨ Mastery of the Senior Auditor & Manager Skill sets

▨ Negotiation Problem Resolution Skills

▨ Motivation & Relationship-Building Skills

Stage 6: Chief Audit Executive

The pinnacle of the audit professional's journey is becoming a Chief Audit Executive (CAE)/VP of Audit. As a CAE where one is responsible for leading the entire audit function within an organization. Reporting directly to the board and executive management, CAEs establish the strategic direction of the audit function. They define audit plan boundaries, and ensure the organization operates within its defined risk appetite. They play a vital role in promoting a strong control environment and driving continuous improvement.

Typically, the CAE is the highest-ranking executive in charge of an organization's internal audit activities. They are responsible for leading the internal audit function, ensure it adds value to the organization by assessing and improving the effectiveness of risk management oversight, control, and governance processes.

The Chief Audit Executive provides leadership

Ideal Key attributes include:

▨ Leadership and Communication Skills

▨ Visioneering Insight

▨ Decision Making Capability

To conclude...

The journey of an audit professional is an exciting and fulfilling one, with each stage bringing new opportunities for growth and professional development. It's essential to consider the specific organizational structure, job descriptions, and responsibilities associated with these titles in individual companies. From starting as an intern to becoming a Chief Audit Executive, the path is filled with learning, challenges, and advancement.

Whether you are at the beginning of your journey or aiming for the top, remember to embrace every stage and seize the opportunities that come your way.

Here are a few suggestions you can consider for your professional development when it comes to your role as an auditor:

Level on which you need to know the topic	Program Name & Certification
Intermediate	Risk Based Audit
Intermediate	Audit Report Writing
Intermediate	Assessing & Auditing IFRS
Medium	Business & Strategic Auditor
Medium	RBA Stress Testing
Advanced	Quantitative Risk Based Audit
Advanced	Chief Audit Executive

If interested in reviewing these and more, check out Causal Capital's Audit Knowledge Transfer on our product page here.