Job Title : Internal auditor
Job category : Accounts

Responsibilities:

Financial Record Examination: Internal auditors carefully examine a company’s financial records to identify areas of risk or concern.

Compliance Analysis: By leveraging their knowledge of industry regulations and company policies, internal auditors identify potential noncompliance.

Risk Management: When reviewing internal data and records, internal auditors look for areas of financial and legal risk.

Theft and Fraud Detection: Internal auditors seek out internal fraud and theft. This can include misuse of funds, embezzlement, time fraud, and employee theft.

Communication: Internal auditors need to communicate key findings from their audits orally and in writing as requested.

Skills:

Accounting Software Proficiency: Internal auditors must navigate their organization’s accounting software. Specific software programs vary by employer, but internal auditors should have some training or experience with common accounting tools like QuickBooks.

Math Skills: Internal auditors need strong mathematical skills to understand and evaluate financial documents and data. They should be able to calculate margins, percentages, and averages.

Accounting Principles Knowledge: These professionals need solid familiarity with accounting principles. In particular, they should understand and know how to apply the generally accepted accounting principles.

Understanding of Relevant Laws and Policies: Since internal auditors focus on compliance, they need a firm grasp on applicable laws and policies.

Critical Thinking: Strong critical thinking skills can help auditors approach data trends and issues from a strategic and analytical perspective.

Attention to Detail: Internal auditors spend most of their time drilling down into complex data. They must identify issues that most people would overlook. Successful internal auditors should pay attention to details and carefully review every item and number in a document.

Ability to Work Independently: Internal auditing is a good career path for self-motivated people. Although internal auditors need to communicate with other internal team members, they do most of their work alone.

Communication: Internal auditors need to communicate complex information clearly. When they present audit findings, they may have to adjust their communication approach so that people with limited accounting knowledge can understand the key takeaways.