Atlanta, Georgia (PRWEB) October 29, 2012
Corporations around the world employ internal auditors to ensure accounting accuracy and legal compliance—but according to a new, ongoing study, the internal-audit profession may be in some danger. The working study, conducted by accounting professors at Brigham Young University, finds that accounting students have a highly negative view of the internal auditing position, as far as future employment is concerned. This finding has won the attention of many accounting and auditing professionals, including Mabasa Nhekairo.
The study has been heralded for what it says to CFOs, in particular, stating that, if they wish to retain their most talented accounting and auditing professionals, they need to give the internal auditing position a “facelift” of sorts. Specifically, CFOs are advised to describe the internal audit-audit position as a “management training ground,” and to classify it as a consultant’s position above all else.
The underlying finding of the study is that internal-auditing positions are simply not viewed favorably. Study participants expressed a significantly greater interest in jobs labeled “accounting” than jobs labeled “internal audit,” even when the job descriptions themselves were identical.
The study has won the attention of men like Richard Chambers, president and chief executive of the Institute of Internal Auditors, who notes that the role of the internal auditor has changed a great deal, now focusing as much on compliance testing and internal controls as on anything else. The passage of the Sarbanes-Oxley Act, in 2002, is largely responsible for this shift.
The study has also captured the attention of Mabasa Nhekairo, an independent consultant whose background is in auditing and whose current work focuses on Sarbanes-Oxley compliance issues. Mabasa Nhekairo has responded to the study with a press statement of his own.
“The findings of this study, although it is a preliminary one, warrant the attention of all stakeholders who value the evolving role of the internal audit function,” says Nhekairo, in his press statement. “Richard Chambers hits the nail on the head with his analysis.”
Mabasa Nhekairo goes on to offer some insight of his own. “I would add that internal auditing can bring tremendous strategic, and preventive, value to management and should not only be seen for its detective function,” he explains.
Nhekairo has served in auditing and consultancy roles for a number of national and global companies. His areas of expertise include enterprise risk management, internal financial controls, and Sarbanes-Oxley compliance. His clients have ranged from worldwide airline companies to major manufacturing entities.
Mabasa Nhekairo is an independent business consultant with many years of advisory and consultancy experience, including eight years with the “Big 4” Firm Pricewaterhouse Coopers (PwC), providing services to premier clients with corporate headquarters in the United States and abroad. Throughout his career, he has been afforded opportunities to work with Canadian, South American, Asian, European, and U.S. management from the process level to the "C-Suite" and to the “Board of Director” level. Nhekairo’s professional background is in auditing, and his expertise encompasses internal controls, enterprise risk management, Sarbanes-Oxley compliance, and more.