Essential internal audit skills blend technical expertise with strong soft skills, focusing on critical thinking, data analysis, risk management, and technology acumen, alongside crucial traits like communication, integrity, adaptability, and business understanding to provide actionable insights and drive organizational improvement. Modern auditors also need skills in cybersecurity, AI, and project management to stay relevant.
Essential Internal Audit Skills
The “5 P's of Internal Audit” includes 5 video-clips presenting testimonials from audit managers on the topics of Plan, Perform, People, Profile and Product.
The principles of independence, objectivity, competence, confidentiality, professionalism, due professional care, and continuous improvement are essential for the internal audit function to fulfill its role as a trusted advisor to the organization.
If you are good at: developing relationships remotely, anticipating how your organization can and should use technology advancements, understanding the business, leveraging root cause thinking, strategically mapping out your professional development, being a source of intel for your CAE, and being a likeable person, ...
Objectivity is the cornerstone of the internal audit golden rule. Auditors must approach their work without bias, ensuring their evaluations are fair, impartial, and based solely on evidence.
Internal Auditor Job Description
The four positive attributes required for an internal auditor—analytical skills, attention to detail, ethical integrity, and effective communication—form the foundation of successful auditing practices.
Most organizations consider critical thinking an indispensable skill for internal auditors. Critical thinking skills lead to improved decision-making and can result in better organizational performance.
Internal auditing examines and assesses company records, workflows, systems, and financial documents. Through the internal audit function, teams identify compliance concerns, complete risk assessments, investigate fraud, and uncover data inaccuracies in financial reporting.
ACL Analytics (Galvanize, now part of Diligent) is one of the most popular tools. It is specifically designed for audit professionals and enables users to analyse 100% of the data, identify patterns, anomalies, and issues in financial and operational data.
The 7 E's in operational auditing are Effectiveness, Efficiency, Economy, Excellence, Ethics, Equity, and Ecology, forming a comprehensive framework for internal auditors to assess an organization's success beyond mere compliance, focusing on goal achievement, resource optimization, quality, moral conduct, fair treatment, and environmental impact to add significant value.
12 Valuable Financial Auditor Skills
Internal auditors often face challenging situations when dealing with difficult clients or complex audit projects. To ensure they remain professional and balanced, they can use various tools and strategies to manage their stress and protect their mental health.
Here are the six most common traits:
Internal Auditors examine, analyze, and interpret accounting records to prepare financial statements, give advice, or audit and evaluate statements prepared by others. Install or advise on systems of recording costs or other financial and budgetary data.
While AI can automate many routine tasks, its primary benefit is enhancing what auditors do—enabling deeper, broader, and more frequent analyses. Rather than replacing auditors, AI should be seen as a tool that allows auditors to do more valuable, strategic work.
While ZipRecruiter is seeing annual salaries as high as $120,000 and as low as $33,500, the majority of Entry Level Internal Auditor salaries currently range between $59,500 (25th percentile) to $90,000 (75th percentile) with top earners (90th percentile) making $108,000 annually across the United States.
Certified Public Accountant: Offered by the American Institute of Certified Public Accountants, many employers require a CPA for internal auditor candidates. This certification requires passing a four-part national exam while meeting other state requirements.
Fundamental Principles Governing an Audit:
The following are skills a quality auditor may use in their role: