We seem to all agree that the IA team member needs to have several years of experience, and have a role in education as well as finance. In reality, however, I have encountered more brand-new auditors freshly minted with an accounting degree than any other type of auditor. In these instances, it is important to treat the auditor fairly and to remember that we all work for the same company and have the same end goals in mind.
At least 5 or 7 years of experience and a good skills of management to create the best team to get a good results to present a the end of the audit.
I agree. I think it is a good idea to ha ve a mix of experience representing the various areas of audit.
At least 5 years of experience in the field with management experience in the subject area of their audit piece.
A solid background in the education field is beneficial - at least five years experience with a college in a management position provides a solid understanding of all functional areas and the types of findings that are specific to the institution as well as common in the field. Exposure and active participation in preparing for or overseeing a regulatory agency audit is a valuable learning experience.
Internal audit members should hold master degrees and have about 5-7 years experience in school's management positions
I had hoped to see others respond to this but, will chime in...I think it is a good idea to have a mix of experience representing the various areas of audit. Specifically, internal audit is often focused on the finance side. While I do think it's important to have representation with accounting expertise, I also think in the education industry, experience in an operational and/or compliance area is useful. Those with experience with a relevant accrediting body will have first hand knowledge of requirements and areas subject to external reviews by these bodies. Experience with Dept of Ed regulations is also valuable as many regulators tend to mirror some of the DOE guidelines.
