Essential Internal Auditor Skills

Internal auditors require a mix of technical skills and interpersonal competencies to effectively assess and improve organizational processes.

Core Technical or Administrative Skills

These skills are crucial for analyzing financial data and evaluating internal controls.

Financial Analysis

Data Analysis Essential

Ability to analyze and interpret complex financial data using tools like Excel and SQL.

Risk Assessment Essential

Skill in identifying and evaluating risks within an organization's processes.

Compliance and Regulation

Regulatory Knowledge Important

Understanding of industry-specific regulations such as SOX or HIPAA.

Audit Tools Important

Proficiency in using audit software like ACL or IDEA.

Soft Skills & Professional Competencies

Interpersonal skills are critical for communicating findings and collaborating with teams.

Communication

Report Writing Essential

Ability to clearly document audit findings and recommendations.

Interpersonal Skills Important

Effective communication and collaboration with diverse teams and stakeholders.

Specialized Career Tracks

Experienced internal auditors can pursue specialized career tracks that offer higher compensation, new responsibilities, or industry-specific roles.

IT Audit Specialist

Secretary Track

Typical Experience: Focuses on IT systems and cybersecurity

Role Track

IT Audit Specialists evaluate the effectiveness of IT controls, ensure data security, and assess the integrity of IT systems. This track requires a strong understanding of cybersecurity and IT governance.

Cybersecurity IT Governance Data Analysis

Key Skills

  • Cybersecurity
  • IT Governance
  • Data Analysis

Career Impact

  • Estimated Salary Range: $80,000 - $110,000
  • Opportunity for role specialization and advancement
  • Track provides focused expertise in a unique office domain

Fraud Examiner

Secretary Track

Typical Experience: Specializes in detecting and preventing fraud

Role Track

Fraud Examiners investigate instances of financial fraud, analyze data for irregularities, and develop strategies to prevent future occurrences. This role requires keen analytical skills and understanding of forensic accounting.

Forensic Accounting Data Analysis Risk Management

Key Skills

  • Forensic Accounting
  • Data Analysis
  • Risk Management

Career Impact

  • Estimated Salary Range: $75,000 - $105,000
  • Opportunity for role specialization and advancement
  • Track provides focused expertise in a unique office domain

Career Advancement Strategies

Internal auditors can advance their careers by moving into leadership roles or specializing in areas like IT audit or fraud examination.

Strategies for Growth

  • Pursue Advanced Certifications

    Earning certifications like the Certified Internal Auditor (CIA) can enhance credibility and career prospects.

  • Develop Industry Expertise

    Specializing in a particular industry, such as healthcare or banking, can open doors to niche opportunities.

Professional Networking

  • Join Professional Associations

    Associations like the IIA provide networking opportunities and resources.

  • Attend Industry Conferences

    Conferences offer a platform to meet peers and learn about industry trends.

Building Your Brand

  • Enhance Your Online Presence

    Regularly update your LinkedIn profile with your skills and accomplishments.

  • Develop a Professional Portfolio

    Showcase your audit reports and projects to highlight your expertise.