Most Important Skills For An Internal Auditor At Compass Diversified

I think solid communication skills are key. As an internal auditor, I go out to the companies we own and meet with management. I meet with people at all levels, from the owner or CEO all the way down to accounting clerks or warehouse staff.

I interact with a lot of people. Having solid communication skills means you often need to lead the discussion. Always remember that time is precious – your time and their time.

You have to use your time wisely and be cognizant of the folks you're interacting with because they have a day job. This audit is being layered on top of their responsibilities. You want to be efficient and thorough.

What you really want to do is listen to what they're saying. Roy, when I think about communication skills, it's not just leading the discussion, but also listening. A lot of times, when having a conversation, you find yourself thinking about the next question.

You need to slow down, listen to what they're saying, and then consider it. I believe a key trait is natural curiosity. How does something work? For me, because I was interested in business, how does this business work?

How does the flow of products go through their warehouse? How does the flow of services happen? How do we build, how do we recognize, what do we do if there's a problem? Things like that.

Also, when you're out there dealing with top-level people or those just getting the job done, you want to build relationships. That's so important. You want these people to remember who you are.

You're going to have to reach out to them from time to time, and you'll be out there on a regular basis. You want to start developing those relationships, knowing who the people are, their backgrounds, and who can help you get the information you're looking for.

Who can really answer the harder questions? And that's not always the people at the very top. It's the people doing the job every single day. They know how the process flows and understand when there are problems and what needs to be done.

Of course, it would be great to have a solid accounting background. It is important because we're dealing with financial statements. You have to understand how to recognize certain transactions and what generally accepted accounting principles are.

Having a solid background will help when you're on these smaller entities. The people there may not understand exactly what is required. You want to work with them and guide them to the right answer, making sure they're doing it appropriately. Again, that's part of building the relationship.