internal auditor job description
Internal Auditors work in physical or virtual offices and do most of their work on a computer, as they assess company records, policies, and procedures in light of external standards. They travel from department to department to do their work and may even travel to other job sites if the company has multiple locations. Though they are concerned with detail, they must be able to relate it to the big picture.
The Internal Auditor is charged with comparing company financial policies, procedures, and practises to standards and report findings to management. As they examine and document internal processes and assess risk, they make recommendations to help the company be in compliance with external regulations or standards. Internal Auditors must remain current on external regulatory requirements and issues so that they can guide the company to be in compliance before an external audit takes place.
Internal Auditors can move onto positions in accounting management or corporate management.
Internal Auditors must be able to work independently and accurately as they compare company records to standards. They need great attention to detail, as well as highly developed analytical skills. To do their work, they need excellent computer skills, particularly in programs like Excel where formulas are used to calculate and compare data. Since it is crucial to win the cooperation of departments being audited, as well as management and external auditors, successful internal auditors are good at building relationships and communicating with others.
required skills and training
Bachelor degree in Accounting, Finance, Business Administration or related field is required, while an MBA is an asset for most employers. In addition, Internal Auditors must complete a professional training program, such as a CPA, CMA, CGA, or CIA, approved by a provincial institute of chartered accountants.
Most jobs require 24-30 months of on-the-job training along with membership in a provincial institute of chartered accountants.
Skills and Certifications:
Certification by the General Accountants Association or Society of Management Accountants is required. Fluency in English and French may be essential, while familiarity with additional languages is an asset in dealing with internal and external clients.
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