Company: Deloitte
Date: 2018-04-25
Overall rating: 5/5
Employment status: current
Experience level: Confirmed

Salwa
Pros: For an organization:
Pros: it is a second line of defence. It can prevent fraud if properly structured and trained. it acts as a watchdog of company's assets. It can help the company in mapping, understanding and managing risks.
Cons: it costs money. if not adequately staffed is pretty useless. It requires management time and attention sometimes for little or no gain. It is very often staffed by people who would not be useful at much else (I know from direct experience).
For an individual:
Pros: The learning curve is steep:i.e. you learn fast. Is a great way to know an organization and build a reputation. You often get to travel a lot (if that's your thing...). You develop various competences IF you apply your brain at what you do.
Cons: it can be tedious at time. You learn a lot but you don't learn to really DO much...like with football you learn a lot more by playing 2 months than to watch for a lifetime. You learn about the game if you watch but it's just not the same.
You travel a lot, up to 70% of your time sometimes, and that sucks. Especially if you travel to "extotic" locations. You spend a lot of time on your own in hotels that all look the same and on planes (that really sucks...). Sarbanes Oxley testing (Sox). Nothing sucks as much. After few years it becomes pretty repetitive.
Cons: mostly internal audit donot have cons but there can be scams due to poor internal audit like

embezzlement of cash

window dressing

wrong financial statements