Internal Auditor: What is the cost of hiring?

Why hire an Internal Auditor?

An efficient Internal Auditor helps in establishing an internal control and audit mechanism which tracks data errors, identifies risk and enables data analysis to enhance the productivity of business operations.

Contributions of a great Internal Auditor include:

• Establish and conduct the full cycle of the audit including risk management and control to achieve financial stability, efficient operations and comply with legal regulations
• Identify the scope of internal audit scope and accordingly develop annual, bi-annual plans
• Gather, record and analyze accounting information, reports, data and other documentation

Skills to look for in a great Internal Auditor

Internal Auditors are an essential part of a company. It is crucial to note which qualifications and skills are vital for hiring a suitable Internal Auditor.

• Bachelor’s Degree in Accounting, Business, Finance or related field
• Proven experience for more than 2+ years’ as an internal auditor
• Possess valid CIA or CPA certification
• Excellent knowledge of finance and accounting database software and MS Office
• Strong critical thinking and problem-solving skills
• Good understanding of Accounting standards and best practices, internal audit guidelines

Writing an Internal Auditor job description

An Internal Auditor job description should have specific job duties with brief role summary and expected skill set for the profile.

Consider including keywords that job seekers are using to search for Internal Auditor jobs, such as:

• Senior Internal Auditor
• Finance and Operations Auditor
• Auditor

Interviewing Internal Auditor candidates

To hire a suitable Internal Auditor, take the time to vet candidates and asking detailed interview questions to understand their knowledge and skills.

• Proficiency in accounting standards, best practices and internal audit guidelines
• Past experience in performing an internal audit in the company
• How they’ve contributed to business efficiency by actively performing an internal audit as per scheduled plan

See our list of interview questions for more examples.