Recently, I came across a discussion on Reddit about professional development in internal audit. Many participants were debating which qualifications really matter for long-term career growth. The comments prompted me to reflect on my own journey and share some thoughts, especially from the perspective of someone with a manufacturing background.
Practical Experience Versus Qualifications
In manufacturing, people are generally down to earth and focus on getting the job done rather than packaging achievements. From this experience, I do not place too much emphasis on professional qualifications. Having a qualification does not automatically translate to working ability. The traditional education system is increasingly outdated and not always aligned with the real-world requirements of today’s business environment. I believe professional development should be demand driven. What you accomplish in practice is often far more important than the exams you pass.
Recognized Qualifications in Internal Audit
Within the internal audit profession, three qualifications are most valued: CPA, CISA, and CIA. The CPA (Certified Public Accountant) emphasizes accounting, financial reporting, and auditing knowledge. The CISA (Certified Information Systems Auditor) focuses on IT governance, systems, and controls. The CIA (Certified Internal Auditor) is the only globally recognized designation dedicated to internal auditing, covering risk management, governance, and audit practice.
Why CPA Still Matters Most
In my opinion, the CPA is a must for long-term career development in internal audit. Without accounting knowledge, it is very difficult to perform well in practice. For example, if you do not understand the concept of inventory provision and how it affects the financial statements, you may not set proper alerts for slow moving stock. Without attaching importance to slow moving stock, you could miss weaknesses in the supply chain, such as aggressive sales assumptions or other external pressures. In recent decades, the importance of CPA has become even greater because the internal audit entry position in many companies is expected to come with prior experience in a global CPA firm. This competitive standard makes CPA knowledge an essential foundation for advancing in the profession.
CISA Versus CIA
If your company sponsors all membership fees, then it makes sense to pursue all three qualifications. However, if you must choose between CISA and CIA, my view is that CISA offers better value. In a digital business environment, understanding IT risks and controls provides a sharper edge for internal auditors.
Looking Ahead
In my next blog message, I will share some practical advice on how to prepare for the CISA exam. Continuous learning is important, but what truly matters is aligning professional development with real business needs.
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