How to Become an Internal Auditor

How to Become an Internal Auditor – A Step-by-Step Guide

Step 1: Get the Proper Education and Certifications

The majority of internal auditors have a university degree in accounting or finance. Business and economics are also acceptable in most cases. The work is quite mathematical and data-intensive. It requires a fair bit of computational analysis and logical reasoning. Individuals with a natural aptitude for accounting will do well here.

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Professional certifications, such as ACA, CPA, or ACCA, add value to your CV. These qualifications will increase your starting pay. They will also qualify you for higher-level and more encompassing roles. Candidates who want a head start should consider these professional certifications. They are not mandatory for all internal audit roles.

Step 2: Get Some Accounting and Finance Experience

Internal auditors must have an advanced understanding of these things. This understanding is necessary to audit business units or company financials. That’s why most internal auditors should have at least 1–3 years of experience in a relevant field, such as accounting, finance, compliance, or risk management.

Securing a position without prior experience is possible, but only in entry-level roles. These roles are supportive. Employees assist senior managers with tasks such as data analysis and paperwork.

Step 3: Learn About Different Business Units

To succeed, internal auditors must interact with various business units, functions, and teams worldwide and gain as much knowledge as possible about how each operates.

For example, an internal auditor may audit a financial planning and accounting team in Germany for a period of one month. The next month, they may audit the US sales team. The business and operational aspects that an internal audit should examine vary. Refer to the job description article to view all the activities.

Step 4: Prepare for Leadership Positions

With a few years of experience under their belts, internal auditors will lead teams of other auditors. The role is in high demand, with solid career prospects in all sectors of the economy. Career growth can be fast-tracked for those willing to be agile and step out of their comfort zones.

Moving from industry to industry will increase the number of available job options. Being open to location changes will also expand job options. This can provide timely boosts to one’s career. It may be a good idea to focus more on leadership and team management skills to present yourself as a strong candidate for senior roles.

Find out more about life as an internal auditor and other details by following the links below:

Job Description & Profile, Qualifications, Skills & Requirements, CV Template & Examples, etc.

Search for Jobs to learn about the internal auditor job roles we currently have available.