What Are the Different Types of Auditing Internships?

Auditors can be responsible for monitoring and researching a company's internal and external data to determine accuracy and validity. Businesses employ in-house auditors and can also hire third-party auditing companies to objectively analyze employees, financial data, and regulation adherence. Companies that typically have a use for a large number of auditing focused employees include banks, investment firms, and other financially based institutions. Regional governments hire auditors to verify reports and check taxes on citizens and businesses alike. One way to become an auditor is to first work at a paid or unpaid auditing internship within the government or for a financial company while earning a degree in accounting or finance.

Internships can allow a student to gain work experience within their desired field prior to graduating from college or high school. They can be important to include on a resume because many employers prefer to hire people who are already familiar with standard industry practices. Auditing internships can be found at a variety of employers who wish to hire and train students from the beginning of their working career.

Banks are one place that often has auditing internships available to students who have completed a set number of undergraduate hours towards a related degree. Many auditing internships are offered from year-to-year, so it may be possible to find and work towards the qualifications an internship is seeking from applicants. Some positions can require applicants to submit a grade transcript, resume, and letters of recommendation.

Depending upon the employer, auditing internships can be paid or unpaid. Internships that are paid may receive compensation in the form of an hourly wage or block stipend for the entire apprenticeship period. Some auditing internships many only offer payment in the form of accommodations and basic spending money. Unpaid internships can sometimes offer college credit for the work experience gained if the student's college will allow the credit to transfer.

Auditing internships are generally completed during the summer months between school semesters or quarters, but they can also be completed during a fall or spring session. Colleges with accounting and finance programs may help facilitate the location and acquisition of auditing internships for their students. Typically, internships are completed during the later years of a student's college experience, after basic knowledge in accounting and finance is gained. In areas where it is more difficult to find an auditing internships, some colleges may allow students to intern at the auditing department of the university of the school they attend to gain work experience and help with future career placement.