Internal Audit 101: Everything You Should Know Imagine running a business where everything seems fine on the surface, but beneath it, small issues are quietly growing. That’s where internal audit steps in. In 2025, internal auditing is a strategic tool to help businesses stay transparent, compliant, and risk-free. Whether you’re a student, professional, or business owner, understanding the internal audit process is crucial. This guide will walk you through everything you need to know from the basics to the detailed steps and key differences from external audits, and how you can start your career in internal audit. What Is an Internal Audit? Think of an internal audit as a regular health check-up for a company, but instead of checking blood pressure or sugar levels, it checks financial records, internal controls, risk management, and compliance with laws and policies. It identifies weak spots, uncovers potential risks, and recommends ways to improve. An internal audit is usually conducted by a company’s team or a dedicated internal auditor, not an outsider. In 2025, internal auditing is a must-have to build trust, improve efficiency, and stay ahead of risks or scams. If you’re looking to build a career in internal auditing, the QIA (Qualified Internal Auditor) certification from GACI (Global Audit and Compliance Institute) is a great place to start. Whether you’re in your final year of studies or already working in another field, this course is open to everyone. It’s a flexible and career-focused way to step into the world of internal auditing.