Internal Auditing: Both a science and an art
May is International Internal Audit Awareness Month. Throughout the month, internal audit professionals advocate for the profession and celebrate how internal auditors contribute to organizations. The below Q&A shares thoughts from UMB’s Corporate Audit Services associates on their roles and how they serve the company as well as commentary from internal business partners on why they’re such important members of the UMB team.
Q: The word ‘audit’ tends to make people a little nervous. What is internal auditing? A: The internal audit team provides an independent and objective view of UMB. Our auditors are skilled at evaluating risk and control environments and can provide assurance as to the degree of control UMB has over its operations and advise it on how to improve this environment. Internal audit’s mission is to enhance and protect UMB’s value by providing risk-based and objective assurance, advice and insight. Internal auditing is part science, in that doing it well requires certain processes, testing and constant learning. However, our field is also an art, in that we must become proficient in many areas and apply that knowledge to help advise the company. -Brad Kastler, Chief Audit Executive
Q: Did you always want to work in internal auditing?
A: I joined the Internal Audit team at UMB to have the opportunity to work on different audit projects with different business leaders all across the bank. It can be easy for people to get mired in the day to day of their work. Internal Audit challenges how and why things are done. Auditors provide value to the company by offering a fresh, controls focused, look at a given process or situation. -Kristen Miller, Professional Practices Director
Q: What might surprise people about working in internal auditing at UMB?
A: People come to our team from a diverse array of backgrounds—not necessarily from audit, or even banking. It’s exciting to work with people who bring different ideas to the table. We have an amazing team and leaders who truly care about each person’s career growth and support helping people learn more about topics that interest them. -Keith Ohland, Investment Services Audit Director
UMB Financial Corporation