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, data-intensive and requires a fair bit of computational analysis and logical reasoning. Individuals with a natural aptitude towards accounting will do well here.

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Professional certifications like ACA, CPA or ACCA significantly add value to your CV. Such qualifications will boost your starting compensation and make you eligible for more senior roles and comprehensive positions. Candidates who want a head start should consider these professional certifications, although they are not mandatory for all internal audit roles.

Step 2 – Get Some Accounting/Finance Experience

Internal auditors must have an advanced understanding of these things to audit business units or company financials effectively, which is why most internal auditors should have at least 1-3 years of experience in a relevant field, including accounting, finance, compliance, and risk management.

It’s possible to get in without experience but only at entry-level roles. Such roles are supportive, where the employee will assist senior managers with their activities like data analysis or paperwork.

Step 3 – Learn About Different Business

Internal auditors are required to interact with different business units, functions and teams around the world. To succeed, learning as much as possible about how each of these business units operates becomes necessary.

For example, an internal auditor may be auditing a financial planning and accounting team in Germany for one month and the sales team in the US the next month. 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 very much in demand, with solid career prospects in all sectors of the economy, meaning that career growth can be fast-tracked for those willing to be agile and get out of their comfort zones.

Moving from industry to industry or being open to location changes will significantly increase the number of available job options, which 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 & Requirements, CV Template & Examples etc

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