Auditing is the main part of any business. People need to get their financial statements get audited both internally and externally. For internal audits they have to hire people or get involve the employees from their accounting department. For external audits there will be people coming from the audit firms. When you are going to select people for the internal audit for your firm you need to be very vigilant and see different abilities in those people. Some of the abilities which you require are listed below and you can see this here:
Risk taking: You should see the risk taking behavior of the persons. If a person is risk averse then he will not be a suitable candidate for this task. You have to select someone who has the ability and courage of taking the risk without fear of loss and troubles. A person who is willing to take great risk will get the great reward in return but the chance of great failure will always be there. Risk takers will never go back while thinking about the failure instead they will get more enthusiasm after thinking about the level of risk and the level of success being equally there.
Awareness: The person you are going to hire must have the awareness of all the issues and legalities of this task. If a person knows only the accounting standards and nothing else will never be suitable for this job of auditing. Auditing demands more knowledge than just the knowledge of accounting formulas. It will take time and a lot of effort from the employee to get to the level where he can audit the firm internally. Not everyone can do this without having the proper knowledge. There are some firms that train their few employees for this job so if you want your employees to audit the firm well then you have to make arrangements for then to get the training in this regard. This training can be in house or out of the firm in some expert firm or you can also pay the employees for the training to encourage them. After training when their performance get improved then you should offer them bonus to make them loyal to the firm and more encouraged to work.
