Contractor auditor vs internal auditor

The differences between contractor auditors and internal auditors can be seen in a few details. Each job has different responsibilities and duties. Additionally, an internal auditor has an average salary of $63,013, which is higher than the $44,024 average annual salary of a contractor auditor.

The top three skills for a contractor auditor include audit reports, CPA and GAAP. The most important skills for an internal auditor are CPA, risk management, and SOX.

Contractor auditor vs internal auditor overview

	Contractor Auditor	Internal Auditor
Yearly salary	$44,024	$63,013
Hourly rate	$21.17	$30.29
Growth rate	6%	6%
Number of jobs	29,170	25,571
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 65%	Bachelor's Degree, 75%
Average age	44	44
Years of experience	-	-

Contractor auditor vs internal auditor salary

Contractor auditors and internal auditors have different pay scales, as shown below.

	Contractor Auditor	Internal Auditor
Average salary	$44,024	$63,013
Salary range	Between $26,000 And $74,000	Between $45,000 And $86,000
Highest paying City	-	Washington, DC
Highest paying state	-	New York
Best paying company	-	Meta
Best paying industry	-	Manufacturing

Differences between contractor auditor and internal auditor education

There are a few differences between a contractor auditor and an internal auditor in terms of educational background:

	Contractor Auditor	Internal Auditor
Most common degree	Bachelor's Degree, 65%	Bachelor's Degree, 75%
Most common major	Accounting	Accounting
Most common college	University of Pennsylvania	University of Pennsylvania

Contractor auditor vs internal auditor demographics

Here are the differences between contractor auditors' and internal auditors' demographics:

	Contractor Auditor	Internal Auditor
Average age	44	44
Gender ratio	Male, 45.6% Female, 54.4%	Male, 54.6% Female, 45.4%
Race ratio	Black or African American, 8.8% Unknown, 4.0% Hispanic or Latino, 11.2% Asian, 12.1% White, 63.5% American Indian and Alaska Native, 0.5%	Black or African American, 8.6% Unknown, 4.0% Hispanic or Latino, 11.0% Asian, 12.9% White, 63.1% American Indian and Alaska Native, 0.5%
LGBT Percentage	7%	7%

Differences between contractor auditor and internal auditor duties and responsibilities

Contractor auditor example responsibilities.

Plan and conduct operational and financial audits to assure financial statements are fairly present in alignment with GAAP.
File and follow up on healthcare claim appeals.
Audit work are performed on-site at Clifton Gunderson, LLP CPA firm
Review results of third party SoX testers and coordinate documentation of results.
Claim audit consist of review of accurate ICD9, CPT and HCPCS coding.
Create quick reference database tool for Medicaid policies, procedures and rules per state.

Internal auditor example responsibilities.

Manage and coordinate annual external business evaluation in conjunction with CPA consultants.
Work with department analyst to create measurement tools and methods for communicating results and managing QA analysis in compiling/reporting results.
Conduct complex performance audits, fraud investigations, special projects and routine follow-up reviews in accordance with IIA standards.
Perform tests of critical controls in compliance with Sarbanes-Oxley legislation and report results utilizing company compliance tool to validate SOX checklist.
Develop company FDA policy & procedures for liquid oxygen small bulk delivery vessels.
Perform planning, compliance testing, substantive analysis and testing in accordance with GAAS.

Contractor auditor vs internal auditor skills

Common contractor auditor skills

Audit Reports, 23%
CPA, 16%
GAAP, 15%
Financial Statements, 6%
Internal Controls, 4%
Audit Findings, 3%

Common internal auditor skills

CPA, 8%
Risk Management, 5%
SOX, 5%
Audit Findings, 5%
Audit Procedures, 5%
Internal Audit Function, 5%