Accountability is important while running an organization, explaining why companies need internal and external auditors. However, our main focus is on internal auditors who are mandated to ensure the accountability of employers when it comes to the company procedures and the general rules of the industry. As an internal auditor, your role involves assessing accounting records, supervising the company’s workflows, and drafting compliance reports. If you need a new job or an upgrade in your auditing career, you are in the right place.
This article will look at what an internal auditor does, i.e., the roles and responsibilities, and the different requirements, be it experience, knowledge, and education. We have also included two resumes as examples to help you write a captivating CV for your next job application. Let’s find out more about internal auditors.
Your role as an internal auditor is quite straightforward. You are expected to ensure that your employer or company of engagement is accountable for their internal procedures and complies with regulations. Despite your varied responsibilities, your main job will be reviewing accounting records, supervising company workflow and finance-related procedures, and drafting compliance reports. Given the critical aspect of this job, you require several skills and competencies that we will see in our interaction. However, let’s first find out some of the roles and responsibilities of internal auditors.
Roles and Responsibilities
- Assessing the company’s financial documents to ensure that they are accurate
- Establishing compliance with federal laws and industry rules
- Reviewing the financial and accounting record-keeping management process for the company and identifying areas worth improving
- Aiding in risk reduction by identifying the organization’s financial risk and giving the right recommendations
- Helping the company to increase its profitability while cutting down costs
- Aiding in the improvement of the internal staff’s productivity and efficiency through assessment and recommendations
- Preparing reports and presentations and presenting them to the top management
- Coordinating communication between the audit team and the top management
- Conducting and managing the company’s full audit cycle, which covers compliance with federal laws, state laws, and industry practices; risk management and control management for efficient operations
- Developing the company’s annual audit plans and deciding on the audit scope
- Carefully analyze and evaluate previous company reports, accounting documentation, flowcharts, and available data
- Regularly monitoring management’s interventions through follow-up audits
- Offers objective and independent advice to the company after every audit to ensure achievements of goals and legality as well as the validity of operations and procedures
- Processing audit-related documents and memorandum of audits’ findings, often presented to the top management
- Keeping up with the latest regulations, tools, techniques, performance standards, best practices, and rules of different sectors
Required Knowledge and Skills
- Extensive knowledge of different auditing procedures and standards as well as rules, regulations, and laws
- Proven knowledge of accounting techniques and procedures
- Great analytical skills
- Ability to thrive under pressure
- Excellent time management skills
- Outstanding documentation skills
- Superb IT skills
- Excellent problem-solving skills
- Excellent attentiveness to details
- Ability to work well in team settings
- Excellent presentation skills
- Outstanding reporting skills
- Ability to deliver sound and independent judgment
- Ability to multitask
- Excellent accounting skills
- Organization skills
- Excellent computer skills
- Microsoft Office Suite skills, i.e., PowerPoint, Excel, and Word
Education and Experience
- Bachelor of Science/ Degree in Financial Accounting, Financial Management, or internal auditing
- Proven experience in internal auditing
- Experience working on team settings
- Proven experience in fraud auditing
- An internal auditor’s institute accreditation or a relevant certification
According to Glassdoor, these professionals are paid quite well. They make nearly $101,000 yearly, with a base pay of roughly $62,000 and an estimated additional pay of $39,000. However, some organizations pay their internal auditors hourly, the least recorded being $29 an hour.
Internal Auditor CV Example 1
Physical address: 368 Mayfield St. Rosemead, CA 92778
Email address: firstname.lastname@example.org
Phone number: (896) 567-8907
A finance and accounting expert with 9+ years of experience in accounting and auditing. A professional is committed to identifying companies’ financial risks and ensuring their compliance with state and federal laws. A dedicated and avid team worker with extensive knowledge of auditing procedures and techniques, ready to work with accounting departments for the betterment and success of the engaging company.
05/2019- 06/2022, Senior Internal Auditor, Bryne Solutions, Bakersfield, CA
- Worked with ten internal and external managers to facilitate operational and financial audits and communicate recommendations
- Identified, developed, and implemented corrective actions for 10+ business areas, bringing them up to the required standards
- Amended 10+ contract agreements, saving the company a cumulative sum of $450,000
- Prepared 100% of all the required paperwork after auditing, including working papers, reports, and supporting documentation
- Used vouching and reconciliation for effective evaluation of design and operation effectiveness of 15+ audit areas
- Led fraud investigations that saw the recovery of a cumulative sum of $400,000, saving the company from embezzlement
- Ensured that the company complied with 100% of all the federal and state regulators by offering consultation services for their corporate research projects and undertakings
- Identified errors in contract billings and reports, helping the company recover $ 2 million+
- Reduced the company’s spending on non-taxable items from vendors by 30% by recommending new contract negotiations
- Developed monthly and quarterly reports and presented them to the management
- Trained and offered guidance to 20+ less experienced editors in 3 years
03/2016- 04/2019, Internal Auditor, Boeing Telecommunications, Los Angeles, CA
- Evaluated all the company’s financial documents to ensure 100% accuracy and compliance with all state and federal laws
- Identified 20+ financial risks and offered recommendations to counter them
- Conducted fraud investigations that resulted in prosecution and recovery of $250,000 cumulatively
- Regularly assessed the efficiency and productivity of 40 staff members and made recommendations aimed at improvement
- Conducted thorough auditing that led to the improvement of 30+ accounting and record-keeping processes
- Worked closely with five top-level executives and three departmental heads, maintaining open communication aimed at improving internal processes
- Attended 10+ conferences and training sessions to further my knowledge of best practices, rules, performance standards and techniques for the organization’s benefit.
- Regularly conducted follow-up audits to monitor interventions and ensure that they were tailored toward process improvement
- Recommended risk aversion measures that saved the company 2M+ dollars in 3 years
- Trained five junior staff members on auditing rules and regulations compliance
- Awarded the best employee of the year in 2018 for exceeding all my monthly productivity targets and goals
05/2013- 06/2015, Internal Audit Intern, Ruckersville Auditors, New Jersey
- Collaborated with five other interns to identify and evaluate the organization’s operating and accounting compliance as well as its technology controls and risks
- Achieved 100% of audit objectives by executing audit programs
- Ensured 100% accuracy in data collection and analysis through the implementation of new technologies for the betterment of the company
- Adapted to and used technology, increasing productivity by 70%, completing all the work objectives on time
- Regularly reported audit findings to the top management made up of 5 executives and recommended different corrective actions
- Took part in quarterly and yearly internal audits for internal controls effectiveness evaluation
- Awarded the best intern of the year in 2014 for training two junior audit interns and bringing them up to speed with the company’s audit policies, procedures, and best practices
- 05/2008- 06/2012, Bachelor of Arts (Hons) in Accounting and Finance (Internal Audit), Asian Pacific University of Technology and Innovation, Kuala Lumpur, Malaysia
- 03/2005- 12/2007, High School Diploma, Hillcrest International Schools, US
- Data mining
- Data Analysis
- Risk management
- Accounting skills
- Numerical/ Mathematical
- Project Management
- Technical writing
- IT skills
- Ability to work in team settings
- Written and verbal communication
- Ability to work under pressure
- Ability to meet deadlines
10/13, Certified Public Accountant (CPA)
Internal Auditor CV Example 2
Rosemary J. White
Physical address: 7522 Country Avenue, Lynwood, California 90345
Email address: email@example.com
Phone number: (678) 564- 54648
A financial expert with extensive experience in financial management and auditing. Self-motivated professional with an in-depth understanding of auditing procedures and techniques, ready to ensure that the company meets all federal and industry regulations. An avid team worker invested in the financial betterment of organizations.
05/2019- 06/2022, Senior Internal Auditor, Bakersfield Inc., CA
- Led a team of 3 internal auditors in performing full audit cycles and checking the company’s tax compliance, financial records and accounts
- Researched all the applicable state and federal laws governing the company’s financial operations and ensured that all the company’s books were 100% compliant
- Led fraud investigations that led to prosecution and recovery of a cumulative sum of $20 million
- Improved the company’s financial policy-making through extensive assessment of all the accounting procedures, inventory, payroll and tax statements and making recommendations
- Conducted thorough risk assessments and recommended aversion measures, saving the company $400,000 in potential losses
- Followed up with the company’s management to ensure at least 98% implementation of all recommendations for the betterment of the accounting department
- Supervised five junior auditing personnel, ensuring they were motivated and 100% productive
- Carefully prepared and reviewed annual edits, ensuring zero errors
- Mentored 12+ new hires in my three years of engagement, leaving the company with a well-trained employee base
04/2016- 03/2019, Internal Auditor, Roses Insurance Company, San Pablo, CA
- Developed annual edit plans after determining the company’s audit scope to ensure 100% coverage of areas in need of editing
- Maintained open communication with the company’s management and the 5-member audit committee for successful auditing processes and implementation of recommendations
- Identified loopholes and recommended risk prevention measures, saving the company $250,000 annually on potential losses
- Conducted follow-up audits to assess management’s interventions and made further recommendations based on the results
- Trained 10+ junior auditing staff in 3 years on best practices and auditing techniques, building a well-trained audit employee base for the company
- Drafted and presented 100% accurate reports to management based on audit results
- Attended 20+ auditing seminars and conferences to improve my knowledge of auditing tools, best practices, regulations and performance standards and shared the information obtained with the auditing team
04/2013- 02/2016, Junior Auditor, Raul Consultations
- Worked closely with the senior internal auditor to conduct the full audit cycle and ensure the company’s compliance with different regulations and made recommendations based on results
- Awarded the best junior employee of the year in 2015 for maintaining excellent performance standards throughout the year
- Participated in the preparation of reports based on audit results, counterchecking them to ensure that they were 100% accurate
- Helped the senior internal auditor to prepare and review the audit findings memorandum, shared by the board of directors and other top-level executives
- Was part of the 6-member audit committee tasked with ensuring the company’s compliance with regulations and industry standards
08/2018- 10/2020, Masters in Business Administration, University of California, LA
02/2009- 03/2013, Bachelor of Science in Finance, UNICAF University, New York, USA
01/2006- 12/2008, High School Diploma, California Gents International School, Lynwood, CA
- String aptitude for Math
- Project Management
- Data mining
- Data Analysis
- Project Management
- Technical writing
- Ability to work well under pressure
- Ability to thrive in team settings
- Excellent verbal and written communication
- Active listening
- Presentation skills
10/15, Volunteer, National Youth Hospital, Chicago
Internal Auditor Resume Frequently Asked Questions (FAQs)
1. Which Keywords Should My Internal Auditor Resume Have?
You definitely know the importance of including the right keywords in your resume if you’ve been reading our articles. If this is your first time, get it from us that the right keywords make your resume ATS-friendly and more captivating. The following keywords should appear in your internal auditor resume: auditing, internal audit, accounting, internal controls, financial audits, financial reporting, finance, account reconciliation, risk management, Internal Financial Reporting Standards (normally written as IFRS), financial analysis, findings, certified, audit findings, audit committed, audit plan, etc.
Note that the required skills can also form part of these keywords, meaning you have several options to give the hiring managers the best resume.
2. Which Technical Skills Should I Have in My Resume?
Technical skills are role-specific, making them mandatory right from the beginning. You are only allowed to sharpen them or learn them in your internship to determine the success of your job. Being a technical and highly engaging job, internal auditing requires several technical skills, which interviewers often establish first.
Ensure that you have excellent internal audit skills, impressive analytical skills, ability to mitigate risks, audit planning skills, computer-related skills, reporting skills, and Microsoft Office Suite skills since you need tools such as PowerPoint to prepare presentations. You will also need excellent Mathematics or numerical skills given that this is an accounting-related position. Remember to sharpen these skills daily since they are required in your next job.
3. Which Internal Auditing Certifications Can I Pursue?
There are several reasons why people pursue professional certificates in their careers. You will enjoy a competitive advantage, more knowledge and skills, professional credibility, enhanced customer trust, and networking opportunities, among many others. Therefore, do not just be satisfied with your degree when you can add to it by getting certificates supporting your profession.
To answer the question, you can first get a certified public accountant certification which is among the most popular qualifications for those wishing to be auditors, professional accountants, finance managers, consultants, and tax specialists. You can also get the Certified Internal Auditor offered by the Institute of Internal auditors or Certified Information Systems Auditor, generally shortened as CISA.
4. Which Format Should I Include in My Internal Auditor Resume?
The right format makes your resume more visible and presentable, which explains why we generally stress it. Take some time to find the right one before starting to draft your resume. Some of the things to consider are: Beginning with your contact information, using the reverse chronological resume layout where your most recent work experience comes fast, using a readable and widely acknowledged font such as Arial, and using the right font size (stick to font 11 or 12), making your resume margins one inch and sticking to the right page count, mostly 2-3.
In the end, ensure that you save your resume in PDF format since it is more presentable. Do not forget to read through your resume to weed out any mistakes.
5. How Should My Internal Auditor Profile Summary Section Look?
Your profile summary should be one of the very first sections of your resume. It is important as it introduces you to the interviewer, albeit in a nutshell. Make sure that it captures your biggest strengths and highly needed internal auditing skills. On the other hand, a resume objective is handy if you are a fresh graduate. In your resume objective, your main focus should be on your transferable skills that apply to internal auditing. Make sure you have the best profile summary section since it’s usually your hiring manager’s first stop when going through your resume.
6. What Are Some of the Soft Skills Needed for Internal Auditors?
You also need soft skills as an internal auditor to achieve your professional goals and work well with those around you. Make sure that you possess excellent communication, interpersonal, relationship building, active listening, and high levels of adaptability.