Internal Audit Job Description
Internal audit
provides assistance to Compliance Director in organizing, facilitating, monitoring, and implementing various risk based Internal Audit and Internal Control Audit Plans.
Internal Audit Duties & Responsibilities
To write an effective internal audit job description, begin by listing detailed duties, responsibilities and expectations. We have included internal audit job description templates that you can modify and use.
Sample responsibilities for this position include:
Contribute to department administration as requested by Director, including scheduling, budgeting, preparing and/or presenting presentations to management, and developing content for department training
Supervise department resources and direct daily progress of activities
Actively participate in/lead department-wide initiatives to increase operating model efficiencies
Support and enhance the department’s work-paper and reporting standards its issue tracking platform
Help implement process changes and new technologies required to update or otherwise improve financial and operational performance, asset management, and risk controls
Review audit work papers and audit reports
Ensure the audit is performed according to department standards, staying within the scope and resource allocation limits (hours and timeline), and meet stated assigned objectives
Implement audit plan and ensure effective audit practices for traditional and continuous audits
Work with business to develop and implement continuous assurance processes
Assist with preparing audit reports
Internal Audit Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Internal Audit
List any licenses or certifications required by the position: CIA, CPA, CISA, CA, CFE, CISSP, CMA, CFA, CISM, IIA
Education for Internal Audit
Typically a job would require a certain level of education.
Employers hiring for the internal audit job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and University Degree in Accounting, Finance, Business, Education, Business/Administration, MBA, Auditing, Graduate, Information Systems, Management
Skills for Internal Audit
Desired skills for internal audit include:
Sarbanes-Oxley Act provisions and methodologies for achieving compliance
Work programs
Audit reports
Control summaries
Audit methodologies and developing key internal audit deliverables
Institute of Internal Auditors code of ethics and compliance requirements
Accounting operations and financial frameworks
Department
Implement
Ability to create
Desired experience for internal audit includes:
Responsible for the coordination and execution of multiple audits, including the Company's Sarbanes-Oxley compliance program
Recommend changes to strengthen the internal control structure and operating efficiency within the organization
Actively participate in annual risk assessment activities and assist with the development of an audit plan that maps specific projects to the risks identified
Assist with the preparation and presentation (when applicable) of quarterly communications to the Audit Committee of the Board of Directors
Maintain up-to-date knowledge of changes and developments in the industry, regulatory environment, and audit profession
Supervise and mentor junior staff and review work papers to ensure they meet internal standards
Internal Audit Examples
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Internal Audit Job Description
Job Description Example
Our company is growing rapidly and is looking for an internal audit. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for internal audit
- Review and edit audit plans, work papers, memorandums, analytical papers, and audit reports
- Supervise and evaluate internal audit staff
- Manage the day to day activities of internal audit staff
- Assist in monitoring the design and effectiveness of internal controls on a regular basis
- Make suggestions of process improvement throughout the organization
- Ensure recommendations are clearly presented and agreed to by management and ensure subsequent audit report is issued promptly
- Manage relationship with third party audit firm on co-sourced internal audit assignments
- Stay current on developments in audit profession, industry, and within company
- Work with management in achieving business objectives by creating solutions to improve business operations, while remaining objective and independent
- Draft the audit plan that ensures adequate coverage of all areas of Finance to permit the issuance of an overall opinion on internal controls and risk management practices to senior management
Qualifications for internal audit
- In-depth understanding of MAR and other standards and best practices of the National Association of Insurance Commissions (NAIC)
- A minimum of a Bachelor’s degree, in finance or accounting
- Professional certification such as CPA, CMA, or advanced degree required
- Annual travel of 15-20%, possibly including some travel outside of the U.S
- Qualified membership of recognized professional accounting body, prefer candidates with Big 4 background
- 8 years of external and internal audit experience, highly prefer candidates with SOX audit experience
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Internal Audit Job Description
Job Description Example
Our growing company is looking to fill the role of internal audit. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for internal audit
- Ensure that the results of the work performed by the team meets the expectations of audit and business management and the regulators
- Maintain consistent interaction with business management
- Support the development of an effective team
- Coach, guide and mentor colleagues as appropriate
- Maintain leading edge knowledge of audit issues
- Understand the consequences of legal, compliance and governance issues
- Identify key business and operational risks and identify deficiencies in the control infrastructure
- Champion and embed best practice management and administrative procedures in own area
- Continuously staying abreast of internal and external changes in the risk environment/key areas of responsibility and being able to assess their impact on the control environment within the Global Businesses and Functions
- Continuously enhance audit skills and business/product knowledge in order to make a meaningful contribution in audits, task forces, steering /governance committees
Qualifications for internal audit
- 4-6 years’ experience in a public company as an auditor or as an independent auditor
- Previous experience in existing internal control programs for a major company
- Professional accountancy/auditing qualification, ACCA or ACA
- 5+ years experience in audit execution skills
- Excellent both in written and spoken English and Chinese
- Well communication skills
3
Internal Audit Job Description
Job Description Example
Our company is searching for experienced candidates for the position of internal audit. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for internal audit
- Maintain client relationships for audit and consulting department
- Grow the audit department to adapt to industry standards
- Ensuring compliance with audit department standards and guidelines for each assigned audit
- Ensure work papers have been reviewed
- Be a source of control knowledge and expertise for the company
- Effectively communicate findings to business area and IAD management on a regular basis
- Analyze the results of audit testing, taking into consideration input from customers
- Work with management to understand customer concerns
- Conduct risk assessments for departments and functional areas
- Work collaboratively with auditee to develop improvements to processes and procedures
Qualifications for internal audit
- Relevant industry knowledge and experience in setting up Internal Audit functions is a plus
- Fluency in mandarin will be an advantage
- A degree-level education (or equivalent) and post graduate / professional qualifications
- Previous auditing experience (internal or external) would be desirable, but is not essential
- Performing regular inspection to ensure policies and procedures are proper followed among the operational, concentration and diversification risks
- Third Level degree relevant to the role (Accountancy
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Internal Audit Job Description
Job Description Example
Our innovative and growing company is hiring for an internal audit. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for internal audit
- The Internal Auditor will perform SOX Compliance documentation/testing, Financial and Operational Audits of the firm and its various business units, including manufacturing, distribution, wholesale and retail
- Conduct periodic financial statement assessments for locations in scope, understand key accounts and the entities /business processes that affect these accounts
- Maintain understanding of current SOX/SEC requirements with respect to financial risk assessments, control objectives and the reporting of deficiencies
- Identify risks, perform audit, review and interpret evidence, record processes
- Initiates interviews, implements surveys, summarizes working papers and memos
- Use nonpartisan approach to issue recommendations for reviewed aspects
- Collaborates with team members to achieve organization goals
- Report in accordance to GAAP
- Conduct research and compose report memos relating to internal audit projects
- Design the annual audit plan to address areas of risk within financial, operational and compliance areas
Qualifications for internal audit
- Qualified or Part-Qualified ACA, ACCA, or equivalent
- Knowledge of retail and corporate banking processes, procedures and controls an advantage
- Clear understanding of the existing regulatory environment
- Proficiency in Microsoft Office XP, advanced Word and Excel skills, strong PowerPoint skills a plus
- Minimum 2+ years of professional audit/accounting experience
- Certified Public Accountant (CPA) or Certified Internal Auditor (CIA) preferred
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Internal Audit Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of internal audit. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for internal audit
- Communicate results and audit findings to business partners the Board and Audit Committee
- Monitor compliance with regulations and communicate issues to ensure concerns are addressed in a timely manner
- Provide recommendations and solutions to address relevant business risk
- Participate in planning and design of audit scope project execution
- Monitor and test internal controls over financial reporting, and evaluate and conclude on control assessments
- Identifying timelines and managing resource allocations to meet requirements
- Coordinating and driving the audit process utilizing innovative and continuous improvement techniques
- Performing portions of audits and document results
- Managing certain administrative functions such as development and maintenance of the Audit website
- Assisting in the development and mentoring of auditors by sharing information and knowledge among the Audit group
Qualifications for internal audit
- Knowledge of SOX 404 requirements
- Understanding of Sarbanes Oxley implementation practices and issues
- Bachelor's degree in Accounting, Finance, Computer Information Systems, Information Technology, or related field is required
- Requires analytical and communications skills to understand customer objectives, evaluate risks and controls and accurately document and support work performed and conclusions reached
- Certified Internal Auditor (CIA), Certified Public Accountant (CPA), or Certified Information Systems Auditor (CISA) or certification preferred
- Experience in auditing, accounting or related field is required