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

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 like 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, including accounting, finance, compliance, and risk management.

Getting in without experience is possible, but only in entry-level roles. These roles are supportive. Employees assist senior managers with activities like data analysis or paperwork.

Step 3: Learn About Different Business

Internal auditors must interact with various business units, functions, and teams worldwide. To succeed, they must learn as much as possible about how each of these business units operates.

For example, an internal auditor may audit a financial planning and accounting team in Germany for one month. The next month, they may audit the sales team in the US. The business and operational aspects that an internal audit needs to look at are variable. Look at the job description article to see 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 might be a good idea to better focus on leadership and team management skills to present yourself as a candidate for senior roles.

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

Job Description & Profile, Qualifications, Skills & RequirementsCV Template & Examples etc

Search Jobs to find out about the internal auditor job roles we currently have available.

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