May is Internal Audit Awareness Month, when the Global Institute of Internal Auditors (IIA), headquartered in the United States of America, showcases and promotes the internal auditing profession.
Internal Audit Awareness Month is celebrated by UP’s Centre of Excellence in Internal Auditing – the highest level of endorsement by the IIA’s Internal Auditing Education Partnership (IAEP) Programme – hosted in the Department of Auditing.
The Centre is especially proud of and grateful for, the support it continues to receive from the internal audit industry, both locally and internationally. This is a prime example of stakeholder engagement and community engagement at its best.
The IIA’s Internal Audit Foundation (IAF) has a dedicated fund to support internal auditing education, called the Academic Fund. This fund supports initiatives that focus on establishing a basis for internal audit students to become leaders in the internal audit profession.
UP was the recipient of $13 500 in grants from the Academic Fund for 2024. Of this amount, $8 500 was awarded as an IAEP grant to appoint graduate assistants to support faculty members and undergraduate students in the Centre, and a PhD student received $5 000 from the Michael J. Barrett Doctoral Dissertation Grant. Support from the Academic Fund makes it possible to deliver students of high quality, which is evident from the feedback received from employers who consistently mention that the quality of UP internal audit students is clearly distinguishable.
The IIA also offers free membership to honours students specialising in internal auditing, allowing students to become part of the profession during their studies. Membership of the IIA also provides students with access to the IIA’s resources, such as the latest research, internal auditing standards and professional guidance.
UP’s Centre for Internal Auditing Excellence has an excellent advisory board that was established in 1999 and currently has senior internal auditors from 13 organisations that meet four times annually with faculty members teaching internal auditing. The advisory board supports the Centre through various initiatives including curriculum development, recruitment of students and guest lectures.
The Centre also hosts an annual Meet and Greet Day, where students can interact with recruiters. On 19 April 2024, nine organisations participated in this exclusive event that allowed students to network with employers in the internal auditing industry.
Prospective employers furthermore participated in the Internal Auditing Communication and Presentation Workshop for honours students during the week of 13 May 2024. During the workshop, students presented on various internal auditing topics and were judged on their knowledge and soft skills.
Numerous local organisations award bursaries to honours students in internal auditing. For example, six academically proficient and deserving students were awarded R30 000 each at the beginning of the 2024 academic year by a major South African company in the automotive industry.
On 25 April 2024, the first student from the 2024 group of honours students was recruited by a prominent international auditing and consulting firm’s Cape Town branch and signed an employment contract for 2025. Various international auditing and consulting firms have also reached out to UP students and are actively recruiting, providing students with the opportunity to gain global experience after completing their studies, thus confirming the quality of UP’s internal audit students.
UP’s Centre for Internal Auditing Excellence would like to thank the local and international internal auditing industry for its support and continued valuable engagement.
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