Subject Matter Experts (SMEs)
by Liz Meyers
Subject Matter Expertsor SME’sare critical to the success of any risk based audit team. Their knowledge of specific areas of the business provides the team insights on specific laws, regulations, best practices and issues which could negatively impact the area being audited. Additionally, this knowledge can give you credibility and respect of business executives (i.e. our audit customers)!
Let’s clarify what an SME is or isn’t in relation to Risk Based Integrated AuditingTM. SME does not necessarily mean having “audit qualifications” but does mean having some knowledge and experience in the area. SME does not mean “industry recognized guru”.
SMEs can have varying degrees of subject matter expertise. To become an SME, be proactive and determine which discipline interests you and start expanding your knowledge. Share this with your CAE or Audit manager. Attend continuing education classes, read books and articles on the topic. Look for related organizations and attend their meetings to meet other SMEs and learn current issues. Identify specific qualifications or certifications for your discipline and make obtaining them a goal.
Developing your subject matter expertise is a “feather in your cap” that will increase your value with the Audit Team as well as the company. Your credibility will increase as your knowledge grows to the point where you are in demand for promotions in your chosen area.
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