How to Become an Internal Controls Manager and Analyst

In the ever-evolving landscape of business, the role of an internal controls manager has become crucial. Experts are important for protecting a company’s assets, enforcing rules, and making things better. If you want to be an internal controls manager, this guide will show you the steps, skills, and qualifications you need for success.

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The Importance of Internal Controls

Internal controls are the quality controls of financial reporting and accounting. They manage financial control, asset use, and disclosure. They also assess and control risks. They work with all financial stakeholders in a business.

Internal controls are valuable because they guide and ensure accurate financial reporting. They also suggest and put in place control amendments to guarantee a clear audit trail and a managed system of financial control.

This role is the most important bulwark against fraud and mismanagement of assets. Financial safeguarding and ensuring compliance are central components of internal controls.

The responsibility for internal controls and systems is flexible, like that of an accountant or treasurer. Internal controls are the responsibility of the CFO or Board of Directors.

Internal controls can be expanded based on enterprise size, financial assets, and industry. It ensures accurate financial reporting and security.

Internal controllers must know auditing, accounting best practices, and legal compliance. This, of course, necessitates a diligent and intelligent financial professional to do this job.

To learn about what an internal controller does each day, visit our job description page.

Step 1: Understanding the Internal Controls Manager Role

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Before becoming an internal controls manager, it’s crucial to understand the role. They check and improve an organisation’s internal control systems. Their primary objectives and key responsibilities include the following:

  • Check and handle risks by finding them in the organisation and reducing them with controls.
  • To make sure everything is running smoothly, track and enforce laws, regulations, and standards. This includes controlling processes and the environment.
  • Enhancing operational efficiency: streamlining internal processes and procedures to optimise resource utilisation.
  • Protecting assets means keeping the organization’s support safe from theft, fraud, or misuse.

When applying for a job, you must understand the role and job description well.

Step 2: Know Your Industry

If you’re thinking about becoming an internal controls officer, you need to think about how auditing works in your industry.

To do the job well, you must know about internal auditing, financial operations, compliance, and segregation of duties. To understand more, it’s important to know about authorization and the control environment. Also, learn about the internal control framework. These are still crucial, even after COVID. This role is challenging but rewarding. Financial reporting and auditing are serious and prone to error. Internal controls must address fraud and mismanagement.

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Step 3: Education

A solid educational foundation is essential to pursuing an internal controls manager career. In this field, most professionals have a bachelor’s degree. Many also have advanced degrees, like an MBA or MA. Relevant fields of study include accounting, finance, business administration, or a related field.

Although a degree is necessary these days, almost any discipline will allow you to become a manager or an internal control analyst.

Follow up with certifications. These include certified management accountants and certified auditors.

Step 4: Develop the Necessary Skills

Becoming an effective internal control manager requires specific skills and competencies. These skills include:

  • Data analysis skills: the ability to analyse complex data analytics and identify areas of risk or inefficiency
  • Internal control managers must have clear communication skills. They use them to convey findings and recommendations to stakeholders, management, and auditors.
  • Being attentive to details is crucial because even small errors can cause major issues in control testing.
  • Problem-solving skills: Internal control managers must identify issues and propose practical solutions.
  • Ethical judgement: Ethical decision-making is paramount as custodians of an organisation’s integrity.
  • Leadership skills: The internal controls manager will be in charge of a team; thus, leadership is essential for the team to work.

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Step 5: Gaining Relevant Experience

Networking is an integral part of advancing your career in internal control management. Here are some tips for effective networking:

  • Join professional organisations such as the IIA, ISACA, or ACFE. Being a member will help you connect with other professionals in the field.

Step 6: Career Pathways 

The level of responsibility for internal controls depends on the company’s size and structure.

To be an internal controller or analyst, you need experience in financial reporting, auditing, and analysis. You also need skills in procurement, cash flow, debt, tax returns, and accounting.

In smaller companies, the CEO, founder, or sole employee usually handles internal controls. This is because there isn’t enough need for an internal audit function.

The larger the company, the more that other leading financial figures—CFOs and COOs—have to take responsibility. In most cases, a board of directors decides who is in charge of internal controls and audit trials.

If you have experience as an internal controller or with internal controls, it can be helpful for auditing or finance management.

Step 7: Staying Informed and Adaptive to Changes

The field of internal control management is dynamic, with evolving regulations and technologies. To succeed, you must stay informed and adapt to changes.

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  • Continuing education: Attend training sessions, seminars, and webinars to keep your knowledge up-to-date.
  • Keep up-to-date with new trends and information by reading industry journals and publications.
  • Lifelong learning: Be open to learning and adapting, as the skills required for success may evolve.


To be an internal controls analyst or manager, you need dedication, education, and professional growth. To succeed in internal control management, you need to understand the role. You should get educated, gain experience, and earn certifications. Networking and staying informed are also important. Aim for career growth. To reach your goals in business, it’s important to stay dedicated and never give up.

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

Job Description & ProfileSalary & Pay CV, Template and Examples

Search Jobs to find out about any internal controller job roles we currently have available.

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