Special Announcement: Internal Auditing courses may now be taken in any order: ACC 4360, Internal Audit I is no longer a prerequisite for ACC 4361, Internal Audit II.

Overview

The Sarbanes-Oxley Act that followed the corporate scandals of 2001 and 2002 demands more effective governance, financial reporting and control systems. Implementation of this legislation has increased opportunities in the field of Internal Auditing (IA) dramatically. To meet this demand, Baruch's Stan Ross Department of Accountancy now offers a new IA track within the BBA accounting major.

This program provides an understanding of the operation of the corporation and, in particular, the risks confronting corporations. This knowledge is an important asset within today's complex corporations. Internal auditing can be combined with other functional interests in accounting, finance, computer information systems, production and operations, and law to create the broader background in great demand by the business community.

Students electing the new specialization must achieve the same high academic standards as those admitted to the public accounting track. The degree can be used to meet part of the 150 credit-hour requirement for taking the CPA examination in New York and most other states.

See below for more information about:

• Career Options and Opportunities
• The BBA Accounting/IA Track Requirements
• IA Internships
• Taking Internal Audit Courses
• Choosing the BBA Accounting/Internal Audit track
• IA Information Sessions

Career Options and Opportunities

The Enhanced Internal Audit Function

Implementation of Sarbanes-Oxley has resulted in many more opportunities in Internal Auditing for new graduates. Companies such as Citigroup, DirectTV, PWC, Deloitte and Touche, and Ernst and Young have contacted Baruch about hiring accounting graduates with a specialization in Internal Audit. New positions are being created to address the increased demands on the internal audit function. Firms must require staff well versed in the process of risk assessment and the development of controls for financial, technological, operational and legal risks.

The "Big Four" and other public accounting firms have developed outsourcing groups to assist clients in their internal audits as well as aid non-audit clients in developing strategically focused and customized audit plans that address their clients' unique risks and objectives. These could include:

• working with them to strengthen their internal controls, risk monitoring and strategic risk management capabilities,

• providing support for the client's existing internal audit function,

• assisting clients who choose to outsource their internal audit functions.

Our corporate partners have made it clear that demand for graduates with this kind of training will continue to increase.

External Auditors Need IA Skills

Companies no longer have the time for training their internal audit staff, but want to hire them ready to work. The demand is especially strong from the major accounting firms, who need graduates

• for their growing internal audit practices and

• because the legislation requires external auditors to understand "internal control."

Unique Baruch Advantage

Baruch IA track graduates have special opportunities because there are no similar programs in our region. Indeed there are very few nationally. With our excellent reputation in accounting and the special involvement of our corporate partners in the development of the IA program, we anticipate very active recruitment of our graduates.

The BBA in Accounting/Internal Auditing Track Requirements

Non-Major Courses - The Core Curriculum

Requirements for the majority of the BBA coursework are described under the Core Curriculum. Go to Undergraduate Programs for a complete list courses.

**Please note:  Students may take a maximum of two 3000 level accounting courses each term (includes ACC 3202, 3000, 3100 and 3200.)  Exceptions are never made to this policy.

Internal Audit Internships

Students are encouraged to begin obtaining accounting-related internship or work experience as soon as they can. In the summer of their junior year, after completing the first course in Internal Auditing, students should apply for an IA internship, which will provide valuable hands-on work experience.

Students are strongly urged to seek these internships and to plan their course schedule so that they will have completed the required 3000 level accounting courses in time to take ACC 4360, Internal Auditing I, in the spring semester of their junior year.

The companies who have supported Baruch in the development of the IA track, and many others, are committed to providing the internship opportunities that will significantly enhance the development of the student's IA skills.

Go to the Internships pages for more information about the internship process.

Taking Internal Audit Courses

Any accounting major who has met the 3000 level course grade requirements may take ACC 4360, Internal Audit I, ACC 4361, Internal Audit II and/or CIS 4350, Computer Control and Audit:

• These may be taken in any order; none of them is a prerequisite for the others (this is a change),
  • Being an accounting major is the only "prerequisite" for CIS 4350 (this is a change)
• These would be extra courses for students who do not select the BBA Accounting/Internal Audit track (the CPA track has no electives except the required advanced finance course in that program),
• You must go through the process of filing the eligibility form (described below) if you decide to select the BBA Accounting/Internal Audit track,
• If you decide to take the three extra courses and fulfill the requirements of both BBA Accounting tracks, you may only select one to appear on your transcript as your major track.

Choosing the BBA Accounting/Internal Audit Track

Accounting majors who have met the 3000 level course grade requirements and wish to pursue the IA specialization should:

• Take ACC 4360, Internal Auditing I and ACC 4361, Internal Auditing II
  • Either may be taken first; neither one is now prerequisite for the other,
  • Plan to take at least one Internal Audit course before the summer between your junior and senior years to improve your chances of getting an Internal Audit internship
• Take CIS 4350, Computer Control & Audit
  • May be taken before or after Internal Audit I & II
  • Being an accounting major is the only "prerequisite"
• DO NOT TAKE the courses below from the BBA Accounting/CPA track (unless you want to take them as extra courses):
  • ACC 4100, Financial Accounting III
  • ACC 5400, Principles of Auditing
  • The advanced finance elective
• Go to the major eligibility page on the Undergraduate Programs, Eligibility page of the Zicklin School website for more information,
  • Click on the Eligibility Form and complete the Online Major Eligibility Review form, indicating "Accounting/Internal Audit Track" as your "proposed major.

For More Information

Information Sessions

Periodically during the fall and spring semesters, Baruch students considering the Internal Auditing specialization can attend information sessions which will clarify the opportunities for Internal Audit students and answer any questions they have about the program and career opportunities.

Go to IA Information Sessions to see when they are scheduled and to sign-up.

Questions about the BBA Accounting/IA Track? Contact

Michael Wynne
Special Internal Audit & 5Yr Programs Advisor
(646) 312-3076
michael_wynne@baruch.cuny.edu

Jan Sweeney
Assistant Director, Zicklin Center for Corporate Integrity
Coordinator for Internal Audit Programs
Jan_Sweeney@baruch.cuny.edu