Question

1-What are the major advantages and disadvantages of each of the four types of auditing careers? internal revenue agent, Certified Public Accountants, internal auditing, government accountability office(GAO

2. What do you think is the best early career choice for the classmate interested in ultimately becoming a certified fraud examiner?

Answer 1

Internal Revenue Agent

Advantages- Competent training in issues of tax audit which leads to an advantage in auditing.

Disadvantages- there is no involvement in financial statement auditing.

CPA Firm Auditor -

Advantages- this offers opportunity to gain competency in specific audits as well as diverse auditing as wide variety of case overload is there.

Disadvantages- business related experience is very limited. More focus on tax audit with limited training.

Internal Auditing

Advantages- this gives practical exposure in financial, operational and compliance auditing, hence gaining experience of all segments of business is possible in a industry focused expertise.

Disadvantages- no exposure to taxation and limited to one industry exposure.

GAO auditor

Advantages- advanced auditing techniques is used for working in operational auditing which builds competency in the specific auditing as opposed to a more diverse segment.

Disadvantages- riddled with bureaucracy and less experience of different business.

b.)

The best career choice for the senior interested in becoming a certified fraud examiner would be to do internal auditing. The career profiles of both internal auditor and certified fraud officer are complimentary and coincides with one another.