http://www.theiia.org/intAuditor/feature-articles/2011/june/mapping-your-career/ Blogen-us Mon, 22 Oct 2012 10:45:08 AMMon, 22 Oct 2012 10:45:08 AM http://www.theiia.org/intAuditor/feature-articles/2011/june/mapping-your-career/2011-07-07Excellent Article. http://www.theiia.org/intAuditor/feature-articles/2011/june/mapping-your-career/2011-07-07It is important that internal audit is viewed at the appropriate level of authority and responsibility within the organization when compared to other managers' career path in the same organization. Measuring performing across small, large and medium size organizations are not same even one ignores associated business aspects viz., volume, size of the operations, number of head counts within internal audit vs., outside of internal audit. Many larger organizations have charge back method of cost accounting for internal audit resources allocated to different offices. At the end of the day, profitable entity has greater and loud voice compared to loss entity that is still exposed to greater business risk. Internal auditors are blamed for looking the other way when things were going wrong in profitable entity and loss entity. Many auditors want to find their comfort zone and stay with it depending the individuals they deal with on many of their audits. Performance review should consider rotation within audits after reviewing the audit skill sets within internal audit and even suggesting better expert advice to Board. This calls for "consultant' hat wearing on the part of internal auditor. Sarbanes Oxley Act of 2002 has very serious compliance standard that keeps internal auditors on toes. This was the experience internal auditor had when BCCI scandal rocked the banking industry that forced FDIC Act of 1991. Threshold limit for FDIC is once again $50 billion and many banking organizations viz., foreign banks do not come close to $50 billion. Many foreign banks are not even publicly listed in United States and this poses a serious challenge in drawing the line when regulators or auditors try to draw parallel line between all of these aspects here. It is professional auditor's view that governs individual responsibility towards corporate governance under sarbanes oxley Act and Dodd Act here. http://www.theiia.org/intAuditor/feature-articles/2011/june/mapping-your-career/2011-07-07Useful article!