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Audit manager vs internal audit manager

The differences between audit managers and internal audit managers can be seen in a few details. Each job has different responsibilities and duties. Additionally, an audit manager has an average salary of $121,419, which is higher than the $106,222 average annual salary of an internal audit manager.

The top three skills for an audit manager include CPA, internal audit and audit reports. The most important skills for an internal audit manager are internal controls, risk management, and audit reports.

Audit manager vs internal audit manager overview

Audit ManagerInternal Audit Manager
Yearly salary$121,419$106,222
Hourly rate$58.37$51.07
Growth rate17%6%
Number of jobs70,16828,405
Job satisfaction--
Most common degreeBachelor's Degree, 75%Bachelor's Degree, 75%
Average age4644
Years of experience8-

What does an audit manager do?

An audit manager is responsible for the complete audit process of finances in an organization. They work for banks and report directly to the audit committee. Based on findings gathered, a financial institution can gain vision into their variance and overall performance. They are also responsible for scheduling audits, initiating departmental audits, consolidation, and analysis of audit reports, and reviewing accounting procedures. Moreover, part of their tasks is to create audit finding presentations to be presented to the audit committee. It requires a high amount of accountability to be an effective audit manager.

What does an internal audit manager do?

An Internal Audit Manager monitors and evaluates how well risks are being managed. They develop recommendations and reports based on audits and present solutions to senior management.

Audit manager vs internal audit manager salary

Audit managers and internal audit managers have different pay scales, as shown below.

Audit ManagerInternal Audit Manager
Average salary$121,419$106,222
Salary rangeBetween $82,000 And $178,000Between $74,000 And $151,000
Highest paying CityPortland, MESan Francisco, CA
Highest paying stateMaineCalifornia
Best paying companyMetaCiti
Best paying industryManufacturingFinance

Differences between audit manager and internal audit manager education

There are a few differences between an audit manager and an internal audit manager in terms of educational background:

Audit ManagerInternal Audit Manager
Most common degreeBachelor's Degree, 75%Bachelor's Degree, 75%
Most common majorAccountingAccounting
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Audit manager vs internal audit manager demographics

Here are the differences between audit managers' and internal audit managers' demographics:

Audit ManagerInternal Audit Manager
Average age4644
Gender ratioMale, 66.0% Female, 34.0%Male, 70.1% Female, 29.9%
Race ratioBlack or African American, 7.6% Unknown, 4.1% Hispanic or Latino, 14.5% Asian, 10.2% White, 63.2% American Indian and Alaska Native, 0.3%Black or African American, 8.5% Unknown, 4.0% Hispanic or Latino, 10.8% Asian, 12.9% White, 63.3% American Indian and Alaska Native, 0.5%
LGBT Percentage11%7%

Differences between audit manager and internal audit manager duties and responsibilities

Audit manager example responsibilities.

  • Manage a review for a large insurance company to ensure compliance with HIPAA law.
  • Manage audits in all divisions and ensure all accounting transactions are perform in accordance with GAAP.
  • Lead ERM development, implementation, risk assessment reviews, reporting, improvement/remediation, & continuous monitoring.
  • Manage quarterly reviews (10-Q) and annual audit (10-K) of two public companies as per PCAOB standards.
  • Manage audits of monthly closings, bank reports, cash flow, operations analysis, revenue accounting, and IPO documents.
  • Manage two staff accountants and Hyperion assistant/analyst.
    • Show more

Internal audit manager example responsibilities.

  • Manage financial reconciliation, bill pay, and budgeting using Quickbooks.
  • Manage and coordinate annual external business evaluation in conjunction with CPA consultants.
  • Define metrics to determine ROI of programs.
  • Assist external CPA firm with annual financial statement audits.
  • Provide oversight and monitoring of provision accounts, fee waivers, and reps and warranties.
  • Provide oversight and expertise for internal investigators.
    • Show more

Audit manager vs internal audit manager skills

Common audit manager skills
  • CPA, 14%
  • Internal Audit, 6%
  • Audit Reports, 6%
  • Audit Engagements, 5%
  • Financial Services, 5%
  • Risk Management, 5%
Common internal audit manager skills
  • Internal Controls, 11%
  • Risk Management, 8%
  • Audit Reports, 8%
  • SOX, 5%
  • Audit Procedures, 4%
  • Ethics, 4%

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Updated January 8, 2025

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