The Institute of Internal Auditors

August 27, 2007 10:51 ET

Growing Demand for Internal Auditors Results in Real-world Educational Initiative

ALTAMONTE SPRINGS, FLA.--(Collegiate Presswire - August 27, 2007) - Internal auditors are in high demand and short supply. Globally recognized recruiting firm Robert Half International says internal auditing is one of the top five growing professions. And national salary surveys show that employers are competing for talent with attractive compensation packages. In response, The Institute of Internal Auditors Research Foundation (IIARF) has brought together academia and working practitioners for a unique collaboration that ensures the right type of educational resources are available to train the next generation of internal auditors. Marrying theory and practical knowledge, Internal Auditing: Assurance & Consulting Services is a unique textbook that delivers fundamentally sound, yet relevant and applicable guidance to prepare entry-level internal auditors to hit the ground running.

"Most textbooks currently used in internal auditing are very theoretical in nature and not necessarily applicable in the field. This was a great opportunity to partner with my colleagues in the academic arena so that college students will get a realistic picture of what to expect from a career in internal auditing," said Paul Sobel, CIA, CPA, a co-author and vice president for the Mirant Corporation in Atlanta, Georgia. "There's never before been such a job market for internal auditors. My reason for being involved in this project is to help ensure that tomorrow's internal audit practitioners are well prepared. This is just one among many ways we as a profession can address the growing opportunities ahead."

Positioned to help executive management and boards of directors achieve an organization's goals by objectively evaluating whether various aspects of the business are running properly (from finance, to operations, to compliance), internal auditors are widely mislabeled and misunderstood. "Bean counters," "the IRS," "financial police," and "gotcha guys," are just a few of the stereotypes commonly held. But earlier this year, the textbook was pilot-tested in several college classes. Participating students said the book provided them with a better sense of what the profession is all about - even helping some determine whether a career in internal auditing might be a good fit for them. It also was recently adopted by Louisiana State University, one of four schools in the world deemed a "Center for Internal Auditing Excellence" by The Institute of Internal Auditors (IIA). Centers for Internal Auditing Excellence are those colleges and universities participating at the highest level with The IIA's Internal Audit Education Partnership (IAEP) program, which works with academia to offer internal audit-specific curricula around the world.

"Our goal with this book was to paint a realistic picture of what internal auditors are expected to do," said Kurt Reding, Ph.D., CIA, CPA, CMA, a professor at Friends University in Wichita, Kansas, and one of the co-authors of the groundbreaking textbook. "Whether you're a student, professor, entry-level internal auditor, or a mentor of other internal auditors, you'll find this book useful - and relevant. It is my belief that this book ultimately will benefit organizations by providing students with the fundamental knowledge and a sense of the skills they will need to succeed and add value as entry-level internal audit professionals."

Profits from the book will be used by The IIARF to conduct further research and fund projects that foster recognition and effectiveness of internal auditing. In addition, the authors have donated a portion of the stipends they received for writing the book to the Internal Audit Academic Advancement Fund, which supports the IAEP programs.

Reding and Sobel, who served as co-editors in chief, enlisted two other professors and two other industry experts to work on the project: Urton Anderson, Ph.D., CIA, CCSA, CGAP, CFSA, University of Texas at Austin; Michael Head, CIA, CPA, CISA, TD AMERITRADE; Sridhar Ramamoorti, Ph.D., CIA, CPA, CFE, CFSA, CGAP, Grant Thornton LLP; and Mark Salamasick, CIA, CISA, CSP, University of Texas at Dallas (a Center of Internal Audit Excellence in The IIA's Internal Audit Education Partnership). Additionally, Cris Riddle, from TD AMERITRADE, assisted as a contributing writer.

Contact Information