Articles Perla Habchi Feb 10, 2025
Audit leaders can build strategic relationships with universities to provide internal audit functions with skilled graduates.
Most internal auditors discover the internal audit profession by chance. I am no exception. I fell into internal auditing as a result of good timing and a job interview for an intern position during my third year of undergraduate studies; my interviewers saw my potential. If I had not attended that interview, I would not have discovered internal auditing or my zeal for a profession that has shaped my career path.
Unfortunately, relying on chance and good timing isn’t a sufficient way to help the profession attract the next generation of internal auditors in the numbers it needs. According to The IIA’s Internal Audit: Vision 2035 report, 23% of student respondents say a lack of awareness of the profession is a barrier to pursuing an internal audit career.
Demographic shifts are in play, too: Many experienced internal auditors from the baby boom generation are expected to retire over the next decade, according to the Internal Audit Foundation’s 2024 report, Fueling the Internal Audit Student Talent Pipeline. This shift will add additional pressure to bring in new talent.
To effectively staff audit functions going forward, internal audit leaders must raise awareness of the profession and help develop competencies in younger generations. This can help ensure internal audit functions have the people and the skills to provide assurance for their organizations in the future.
Today, most universities only offer internal auditing as a minor part of a general accounting curriculum that offers simplistic coverage of the profession. Yet, there is great opportunity to promote internal auditing on a deeper level.
During my undergraduate studies, the Big Four accounting firms dominated college networking events and career fairs. They were highly visible and informed students about potential accounting jobs. However, internal audit functions were nowhere to be found. There needs to be more awareness of the profession at employer networking events.
Many college students are enthusiastic, motivated by change, and looking to create value in today’s business world. When colleges implement curricula that provide detailed information about internal auditing and promote the profession through job fairs and other events, it can entice these students to want to learn more.
Over the years, The IIA has made inroads in getting internal audit curricula into colleges and universities through its Internal Audit Education Partnership (IAEP) program and Internal Audit Awareness Program (IAAP). Participating IAEP universities teach an internal audit curriculum within a degree program that is endorsed by The IIA. The IAAP recognizes universities that teach internal auditing as part of a standalone course.
The IIA’s Global Model Internal Audit Curriculum offers six core courses and six supplemental courses. Core courses include:
Beyond the classroom, college career centers can serve as vehicles to promote internal audit functions and the profession’s career opportunities. Audit leaders can build meaningful and strategic relationships with academic institutions to help provide internal audit functions with skilled graduates. These relationships may include participating in speaking engagements, panels, and recruitment events.
Recently, I moderated a panel discussion sponsored by the IIA–Ottawa Chapter and the Sprott Business School Career Centre, where internal auditors shared their experiences and advice with students. Panelists told students about the nontraditional career paths they took before they became internal auditors, the skills needed to succeed in the profession, and how to apply for internal audit positions. The event enabled students to learn about the profession and its career paths, as well as to network with internal auditors from local organizations.
Contacting university professors is another way for audit leaders to get involved at the academic level. While students learn about internal auditing from a textbook, practitioners can share real-life experiences that can bring the profession alive.
When I speak to university classes, I share how I get to collaborate with a team of auditors on topics such as auditing the Canadian government’s efforts to expand its electric vehicle and alternative fuel infrastructure. I also tell them how my job has allowed me to travel throughout Canada to visit the nation’s scientific labs and learn about their work. This storytelling can ignite students’ curiosity about what an internal audit career is really like.
To those with little knowledge of internal auditing, the field may seem dull, yet it is multifaceted and offers many creative opportunities. Early in my career, I became interested in linking concepts of innovation into my internal audit work — from auditing innovation in organizations to developing an understanding of innovation maturity levels.
As students become aware of this intriguing profession, they may gravitate toward work experiences that supply the skills and knowledge needed to pursue that path. As a result, the specific job and learning opportunities they seek may enable them to graduate with a better understanding of the profession.
When internal auditors directly engage with students, they can share the reality of their day-to-day responsibilities while highlighting the value audit engagements bring to their organizations. Auditors also can point out the tangible and transferable skills students can acquire.
In addition, internal auditors are present in most organizations, which may appeal to students if they wish to work in different industries throughout their careers. Internal auditing strategically caters to multiple industries, which can align with the younger generation’s interests.
For example, I recently spoke to undergraduate and graduate students during a panel discussion about how internal auditing can contribute to a greener future through assurance and consulting audits. I strategically positioned the profession to appeal to students from various disciplines pursuing “green” jobs.
Internal auditors who responded to the hiring survey in The IIA’s Student Talent Pipeline report say data analytics (53%), IT auditing (34%), and cybersecurity (24%) are among the essential knowledge areas for new hires.
Therefore, CAEs should focus on expanding their team’s competencies in these areas, in addition to evaluating and helping mitigate emerging risks.
Traditionally, organizations have used internal training and mentoring, staff rotations, guest auditors, and external service providers to develop competencies. With artificial intelligence and data analytics usage increasing rapidly, internal audit functions need to hire graduates from a variety of educational backgrounds to build long-term internal capacity and respond to new technological trends. For example, an internal audit team member with a data analytics, computing, or engineering background could be an asset as functions become more technology-driven.
Audit functions should explore recruiting graduates with technical skills outside of conventional business backgrounds, as well. Many Government of Canada internal audit functions seek graduates with computer science and data analytics degrees because their specialized knowledge is useful for IT and cybersecurity audits.
Once graduates are hired, further success depends on providing an environment that enables them to become successful internal auditors. Leading by example is essential, as is caring about the careers of internal audit staff members, a practice that extends to students.
Training and Mentoring. Graduates who join an internal audit function often are unfamiliar with the profession, the basics behind an internal audit function, internal audit principles, and the internal audit process. Providing a formal onboarding program and the opportunity to receive mentorship from a senior colleague is essential.
To build greater awareness of internal auditing and attract the next generation of internal auditors, The IIA offers free membership to students. Student members have access to the same extensive resources as practitioners, including internal audit content and tools, networking events, and internship opportunities. Familiarity with these resources expands knowledge about internal audit procedures, the Standards, and emerging risks and trends.
Students can use their membership to differentiate themselves from others, shorten their learning curve, and become well-prepared for internal audit careers. Organizations also benefit because hiring students with advanced skills and knowledge of the internal audit framework reduces training costs and duration.
Formal onboarding materials should give context about the internal audit function, the Global Internal Audit Standards, and internal audit procedures. These materials should include the IIA Glossary, internal audit charter, the International Professional Practices Framework, and the organization’s code of ethics and policies.
Mentorship fosters a close-knit relationship between the mentor and mentee, making the mentee feel supported and included. The mentee and mentor benefit most when the mentor demonstrates and builds leadership skills, and the mentee has a regular point of reference for advice.
As a former intern, I enjoy mentoring incoming interns within my team. I emphasize regular check-ins where interns can ask questions and we can build a career vision board to help them think about how they will achieve their career goals. In turn, mentoring helped me develop my leadership style and give back to the next generation of internal auditors.
Creating Opportunities. Integrating new auditors into the team and involving them in all aspects of an engagement gives them a complete view of the steps and tasks comprising an internal audit plan. New auditors can make meaningful contributions to each phase of an internal audit and develop or expand their skills in areas they choose. Experiences like these give new employees valuable insight and guide their decision to pursue internal auditing as a career.
Having a clear career path and development opportunities are significant factors for students who wish to pursue an internal audit career. One of the benefits of an internal audit internship is showing interns that it is not a position with an expiration date, but one where they can visualize a career that aligns with their professional goals. Learning opportunities leading to career progression, continual improvement, and skill development are essential to career development.
A Welcoming Environment. Reflecting on my experience as an internal audit intern, I recognize best practices that later influenced my career choices. I was fully integrated into an internal audit team that gave me measurable goals and expectations and tailored my work experiences to my interests. As a result, I expanded my skills, and I felt valued.
When surrounded by enthusiastic practitioners, new auditors are motivated to contribute to the internal audit function. Practitioners who lead by example influence the next generation of internal auditors to emulate best practices as they advance in their careers.
Another good practice is fostering a welcoming culture and engaging environment conducive to new auditors’ growth. Team members should support new hires and student interns, answer their questions, seek their input, and provide them with feedback to help them improve.
As an intern, I worked on projects that contributed to the audit function, including conducting internal audits and contributing to a training guide for internal auditors in Canada’s federal government. My manager took me to my first IIA event — the chapter’s annual general meeting — where I was introduced to the full scope of the chapter’s achievements for the year. I also had the chance to network with internal audit leaders. Being involved in the profession early in my career, surrounded by internal auditors who enjoyed their jobs, inspired me to pursue an internal audit career.
Raising awareness of internal auditing and expanding university curricula to include more internal audit courses can help create and enhance career paths for college students and recent graduates. Both the profession and future internal auditors can reap the benefits, which in turn can increase internal auditing’s value to organizations.