What does an Internal Auditor do?
An Internal Auditor conducts audits to assess the effectiveness and accuracy of a financial system’s recordkeeping. They ensure that internal and financial processes comply with laws and regulations. The Internal Auditor scrutinises balance sheets, account balances and cash flow statements for anomalies.
The Internal Auditor recommends changes to an organisation’s accounting or operations to a Manager. Internal Auditors also perform investigative work into ethical issues. When the organisation implements audit actions, it’s the Internal Auditor who tracks and monitors them.
Internal Auditor skills and qualifications
The Internal Auditor must have solid business judgement and a burning desire to deliver sustainable results. A successful Internal Auditor will also have various prerequisite skills and qualifications that typically include:
- In-depth knowledge of the Generally Accepted Auditing Standards (GAAS)
- Strong written and verbal communication skills
- Excellent research and analytical skills
- High levels of integrity and ethical standards
- A keen eye for detail to successfully scrutinise data
- Ability to stay calm in a high-pressure work environment
- In-depth knowledge of accounting software and standards
- Ability to interact with coworkers and work in a team
Internal Auditor experience requirements
An Internal Auditor needs 3-5 years of experience in auditing financial records following the Generally Accepted Auditing Principles (GAAP). The ideal candidate has a background in accounting or auditing, knowing how to assess financial influences. They need experience with computational auditing, using computers to sort out and analyze data. Their competency with auditing software enables them to perform calculations while creating in-depth reports.
Internal Auditors need six months of experience working with field regulations, policies and bylaws. Pre-entry work experience is an acceptable entry status for an Internal Auditor filing for a Junior Support Role.
Internal Auditor education and training requirements
A bachelor’s degree in either business, finance, accounting or economics is essential for an Internal Auditor. A master’s degree is a prerequisite for a Senior Auditor’s post. Some organisations prefer applicants with a Certified Internal Auditor or Certified Fraud Examiner certification. An applicant with certifications in internal auditing or accounting has a strong work history to employ.
Internal Auditor salary expectations
According to Indeed Salaries, the average salary for an Internal Auditor in the UK is £50,593 per year. Their salary depends on their level of experience and location. An Internal Auditor’s area of speciality and the size of their organisation also plays a role in their wage.
Job descriptions samples for similar positions
If you would like to hire for a role other than Internal Auditor, here are a few description samples to consider: