How much does working in a small IA function affect professional development?
I'm a CPA with 10+ years of experience across finance, external audit, internal audit and advisory.
I'm currently in a very..VERY small internal audit function. The role is stable, very low stress (aside from a not so great manager) and provides a lot of autonomy, but there is limited interaction with other audit professionals and little to no structured professional development or methdology.
There isn't much opportunity for peer learning, methodology discussions, team CPD, conferences, or exposure to how other IA functions approach engagements. The work itself has also become fairly routine and boring.
I do some part-time internal audit consulting outside my full time role and I have some capacity to increase that work and could also independently invest in IIA membership, CPD, Global Internal Audit Standards training, conferences, etc.
I'm considering a Senior Internal Auditor opportunity with a larger organization that appears to have a much more mature IA function, a larger team, broader audit exposure and more opportunities to learn from other auditors.
The downside is that it would be a more demanding role, with somewhat less attractive overall compensation/benefits and likely more stress and longer commute.
I'm not particularly interested in climbing the corporate ladder for its own sake. My main concern is staying technically current, continuing to develop as an auditor, doing interesting work and being part of a professional environment where I can learn from others.
For those who have worked in both small/isolated IA functions and larger, more mature IA teams:
- How significant is the professional-development difference in your experience?
- Can you realistically compensate for a small IA environment through consulting, IIA membership and self-directed CPD?
- Or is there something about being embedded in a larger IA team that you simply can't replicate on your own?
- Would you take the more challenging role primarily for the professional development, even if the lifestyle and compensation were somewhat worse?
I'd particularly appreciate perspectives from people who have deliberately chosen either career development over comfort or work-life balance over professional growth.
Edited to add the following as i feel the original post was too focused on professional growth being the biggest factor.
The management situation is probably my biggest frustration. I don't feel like my manager is particularly strong from an IA perspective, and I don't get much technical discussion, coaching or challenge from her. I've tried to bring forward ideas about improving our methodology and how we operate, but there doesn't seem to be much appetite to change anything. Since we're basically a two-person function, that means there's very little else around me to compensate for it. Honestly, if I had a strong IA manager who wanted to build the function and challenge me, I might be perfectly happy staying.