Transitioning from Internal Auditor to Finance and Accounts: A Pathway for Professionals with 2 Years of Experience

Are you a internal auditor with 2 years of experience interested in transitioning to a role in finance and accounts? Have you developed a deep interest in finance and accounting and are currently pursuing a diploma in IFRS? This article provides a comprehensive guide to help you make this strategic career move, highlighting the skills and steps necessary for success.

What Skills Does an Internal Auditor Bring to the Finance and Accounts Department?

Your background in internal auditing equips you with valuable skills that are highly relevant in the finance and accounts department. Key skills include risk assessment, compliance, and analytical thinking. These skills are transferable and can make you a strong candidate for various finance and accounting roles. For instance, your experience in financial analysis and reporting can be leveraged in financial management, budgeting, and financial forecasting. Additionally, your knowledge of internal controls can enhance your understanding of financial processes and risk management.

Leveraging Your Skills

To effectively transition into the finance and accounts department, it is crucial to highlight your skills and experiences that are relevant to the role. For example, you can emphasize your experience in:

Financial analysis and reporting Compliance with internal controls Risk assessment

These skills are not only transferable but also highly valuable in the finance and accounts department. They demonstrate your ability to handle complex financial data and ensure accuracy and compliance, which are critical in any financial role.

Pursuing Relevant Education

Completing a diploma in IFRS is an excellent step in building your foundational knowledge in international financial reporting standards. This qualification is crucial in many finance roles and will enhance your credibility in the eyes of potential employers. Additionally, consider obtaining certifications such as CPA, CMA, or CFA to deepen your expertise. These certifications can validate your knowledge and demonstrate your commitment to excellence in the field of finance and accounting.

Networking and Industry Connections

The power of networking cannot be overstated when making a career transition. Connect with professionals in the finance and accounts department by attending industry events, joining relevant LinkedIn groups, or seeking informational interviews. These interactions can provide invaluable insights into the industry and help you discover job opportunities. Many people in my network, including myself, have successfully transitioned from internal auditing to handling accounting functions in multinational corporations (MNCs).

Tailoring Your Resume

Your resume should be tailored to highlight accomplishments and experiences that align with finance and accounting tasks. Focus on showcasing any relevant projects or responsibilities that demonstrate your financial acumen. For example, if you have experience in preparing financial reports or analyzing financial data, be sure to emphasize these areas. This will help potential employers see the value you bring to their team.

Considering Entry-Level Positions

Be open to applying for entry-level roles in finance and accounts. These positions can provide you with the necessary experience and help you build a strong foundation in the field. Even if you feel inadequate, remember that you have valuable skills that can be transferred. Start with roles that you believe will offer growth opportunities and allow you to learn the ropes of the finance and accounts department.

Continuous Learning and Staying Updated

Stay updated on industry trends and best practices in finance and accounting. This can be achieved through online courses, webinars, and professional associations. Keeping your knowledge current will not only enhance your skills but also make you a more attractive candidate to potential employers. Many people in my network emphasize the importance of continuous learning, which played a significant role in their successful career transitions.

By combining your internal audit experience with your growing knowledge in finance and accounting, you can position yourself as a strong candidate for roles in the finance department. Remember, persistence, adaptability, and a proactive attitude will serve you well as you embark on this journey. Good luck!