Become an Internal Auditor

The internal auditor, who reports to the company's or group's General Management, is a key element in the evolution of its operations. He/she examines every aspect of it in order to establish a diagnosis. He or she is required to travel frequently to observe departments, subsidiaries and sites as part of his or her audit or the implementation of his or her recommendations.

What are the missions of the internal auditor?

The internal auditor's field of observation concerns all aspects of the company and its activities. If for a long time he was assigned to the analysis of the accounting, his action has been for several years also focused on quality. He examines the operating methods of the parent company and its subsidiaries, whether in the areas of finance, IT, human resources, production or customer relations. He travels a lot to visit the places he audits. He may also travel abroad when his work is carried out within a company with international activities. 

His action: Review and analyze the various procedures of the company internally in order to improve the functioning, the productivity and of course the results.

During his audit, he proceeds in different steps starting with the detection of abnormal and/or problematic practices and the analysis of the risks they imply. This is followed by a phase of observation and collection of information and data, as well as tests and meetings with employees in the field.

Thanks to this investigation, the internal auditor is able to make a diagnosis that will enable him to draw up his report and make recommendations. These recommendations consist of changes in methods and processes and must be implemented in the various entities concerned. Communication and collaboration with the employees is therefore of considerable importance.

Missions : 

  • To study the functioning of a service, without intervening at the level of the decisions;
  • To establish a diagnosis and propose recommendations to the head of the company;
  • To control the transparency of the accounts in accordance with French regulations;
  • To verify and certify the accounts;
  • To organize a department and set up accounting and financial information systems.

Specialties: The intervention of an internal auditor is essential in the insurance, banking and mutual sectors. The audits that they carry out allow them to ensure the efficiency of the activity, to calculate and analyze the risks and results.

 

The skills and qualities of the internal auditor

The professions of control, analysis and improvement of company performance have in common the need to be able to synthesize information. The auditor is required to establish cause and effect links between different elements in order to optimize global processes and to determine the points to be improved according to their impact on the activity. In addition to these skills, the auditor must have methodological qualities and a high degree of rigor.

Technical skills 

  • Good knowledge of general and cost accounting (French and Anglo-Saxon)
  • Good mastery of computers

Qualities  

  • Ability to synthesize and analyze
  • Rigor 
  • Autonomy while knowing how to work in a team 
  • Curious and open mind
  • Ability to adapt

The training path of the internal auditor

To become an internal auditor, you need to have a degree in management and accounting, or a degree in internal auditing.

Various qualifications allow access to this position: 

  • An engineering degree or a degree from a business and management school with a specialization in public accounting, auditing and control or banking-finance 
  • The french DSCG (higher diploma in accounting and management)  
  • A Master's degree in accounting-control-audit, management, finance or management control and organizational audit
  • A Master's degree specialized in audit-control or AICG (Internal Audit and Management Control)

 

 

Opportunities and salary of the internal auditor

The job of internal auditor can be practiced within a group as an employee, or independently. It is not uncommon for internal auditors to decide to open their own audit firm after several years of successful experience. There are also opportunities for advancement within the group or the company, which can lead to department management and other senior positions. The internal auditor's in-depth knowledge of the company's operations makes him/her a good candidate for positions of responsibility.

Salaries for internal auditors in France range from 2,700 to 5,900 euros gross per month.

In the US the salaries start around $48,000 gross per year for a 1 year experience, with a global average around $83 000 gross per year for an experienced auditor.

In the UK the average is £57,000.