Factsheet - Transitioning to Retirement

Factsheet

Transitioning to Retirement

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Factsheet

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Author

IIA-Australia

Date

2023

Topics Explored

Internal Audit, Soft Skills

Format

Factsheet

Extract/Description

One in four baby boomers involved in the internal auditing profession are expected to retire in the short-term. With baby boomers making up almost 20% of the internal auditing workforce, this will result in the loss of considerable auditing experience and wisdom.

Key Points

1. Retirees often struggle with their new identity after defining themselves over many decades in relation to their careers.

2. The lives of retirees are often enriched when they are able to give back to the profession, through sharing their experiences.

3. Retirees can contribute to development of the next generation of internal auditors, while enriching their lives.

Relevant Industries

All

Level of Assumed Knowledge

Intermediate

Aligned to Global Internal Audit Standards

No