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Become An Internal Audit Internship

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Working As An Internal Audit Internship

  • Getting Information
  • Evaluating Information to Determine Compliance with Standards
  • Communicating with Supervisors, Peers, or Subordinates
  • Updating and Using Relevant Knowledge
  • Analyzing Data or Information
  • Deal with People

  • Mostly Sitting

  • $67,190

    Average Salary

What Does An Internal Audit Internship Do At Metlife

* Understand, assess, and report on MetLife’s risk and controls, and participate in discussions with Audit partners and clients regarding Audit planning, reviews and findings
* Participate in moderate to large audit or business projects
* Complete assigned tasks and responsibilities within budget and agreed timelines (explaining variance) ensuring compliance to MetLife Policy & Procedures, leading practices, procedural efficiency, risk management and accuracy; and to regulatory standards and best practice
* Identify exceptions/deviations and collecting related information and evidence to prepare for detailed discussions regarding facts, circumstances and root causes of issues noted
* Communicate timely and appropriately with the Internal Audit team and business management

What Does An Internal Audit Internship Do At Citizens Bank

* Participate in various audit activities, such as reviewing relevant background material or analyzing data, documenting meeting notes, or preparing and/or updating process maps, to identify risks and controls of the area being audited.
* Execute testing of controls, documenting test steps taken and summarizing testing results during audits or issue validation activities.
* Adhere to IA Methodology and bank policies and procedures
* Performs various ad hoc requests, such as data input or analysis, as needed
* Qualifications
* Self-starter and self-motivated
* Excellent interpersonal and verbal/written communication skills
* Strong analytical skills
* Team player who can work closely with others to complete projects under pressure with limited time and resources
* Proficient in MS Office Suite (Word, Excel, Access, and PowerPoint

What Does An Internal Audit Internship Do At Black Hills Corporation

* Develop and maintain strong respectful working relationships with company employees to facilitate the objective of the Internal Audit Department and to enhance the image of the Governance Department of the Company.
* Perform other administrative duties as assigned.
* WORKING RELATIONSHIPS:
* Maintain strong working relationships within Internal Audit Department.
* Maintain supportive and respectful working relationships with all Black Hills Corporation employees and departments.
* Maintain supportive and respectful working relationship with External Auditors

What Does An Internal Audit Internship Do At Sanofi Group

* Assist with audit project(s) planning designed to identify critical risk areas and audit execution skills to validate areas for improvement
* Demonstrate in depth understanding of business and trend analysis, process understanding, decision making, and project management skills
* Cultivate meaningful internal and external partnerships, adding value and insight for the organization
* Present results to the team leader at the conclusion of each audit project
* Selected candidate(s) will have the opportunity to conduct audits in a diverse array of departments spanning HR, procurement, finance, marketing and sales, supply chain, etc

What Does An Internal Audit Internship Do At Charles River Laboratories

* Assist in planning, preparation and execution of Sarbanes
* Oxley compliance testing and internal audit engagements under supervision of audit staff.
* Participate in audit projects at domestic and international locations.
* Follow established standards to document workpapers in support of engagements.
* Participate in interviews of key control and process owners.
* Verify adherence to company policies, standard operating procedures, applicable regulations and laws.
* Document audit findings and formulate basic recommendations for improvement.
* Assist in the preparation of audit reports

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How To Become An Internal Audit Internship

Most accountants and auditors need at least a bachelor’s degree in accounting or a related field. Certification within a specific field of accounting improves job prospects. For example, many accountants become Certified Public Accountants (CPAs).  

Education

Most accountant and auditor positions require at least a bachelor’s degree in accounting or a related field. Some employers prefer to hire applicants who have a master’s degree, either in accounting or in business administration with a concentration in accounting.

A few universities and colleges offer specialized programs, such as a bachelor’s degree in internal auditing. In some cases, those with associate’s degrees, as well as bookkeepers and accounting clerks who meet the education and experience requirements set by their employers, get junior accounting positions and advance to accountant positions by showing their accounting skills on the job.

Many colleges help students gain practical experience through summer or part-time internships with public accounting or business firms.

Licenses, Certifications, and Registrations

Every accountant filing a report with the Securities and Exchange Commission (SEC) is required by law to be a Certified Public Accountant (CPA). Many other accountants choose to become a CPA to enhance their job prospects or to gain clients. Many employers will often pay the costs associated with the CPA exam.

CPAs are licensed by their state’s Board of Accountancy. Becoming a CPA requires passing a national exam and meeting other state requirements. Almost all states require CPA candidates to complete 150 semester hours of college coursework to be certified, which is 30 hours more than the usual 4-year bachelor’s degree. Many schools offer a 5-year combined bachelor’s and master’s degree to meet the 150-hour requirement, but a master’s degree is not required.

A few states allow a number of years of public accounting experience to substitute for a college degree.

All states use the four-part Uniform CPA Examination from the American Institute of Certified Public Accountants (AICPA). Candidates do not have to pass all four parts at once, but most states require that they pass all four parts within 18 months of passing their first part.

Almost all states require CPAs to take continuing education to keep their license.

Certification provides an advantage in the job market because it shows professional competence in a specialized field of accounting and auditing. Accountants and auditors seek certifications from a variety of professional societies. Some of the most common certifications are listed below:

The Institute of Management Accountants offers the Certified Management Accountant (CMA) to applicants who complete a bachelor’s degree. Applicants must have worked at least 2 years in management accounting, pass a two-part exam, agree to meet continuing education requirements, and comply with standards of professional conduct. The exam covers areas such as financial statement analysis, working-capital policy, capital structure, valuation issues, and risk management. 

The Institute of Internal Auditors (IIA) offers the Certified Internal Auditor (CIA) to graduates from accredited colleges and universities who have worked for 2 years as internal auditors and have passed a four-part exam. The IIA also offers the Certified in Control Self-Assessment (CCSA), Certified Government Auditing Professional (CGAP), Certified Financial Services Auditor (CFSA), and Certification in Risk Management Assurance (CRMA) to those who pass the exams and meet educational and experience requirements.

ISACA offers the Certified Information Systems Auditor (CISA) to candidates who pass an exam and have 5 years of experience auditing information systems. Information systems experience, financial or operational auditing experience, or related college credit hours can be substituted for up to 3 years of experience in information systems auditing, control, or security.

For accountants with a CPA, the AICPA offers the option to receive any or all of the Accredited in Business Valuation (ABV), Certified Information Technology Professional (CITP), or Personal Financial Specialist (PFS) certifications. The ABV requires a written exam, completion of at least six business valuation projects, and 75 hours of continuing education. The CITP requires 1,000 hours of business technology experience and 75 hours of continuing education. Candidates for the PFS also must complete a certain amount of work experience and continuing education, and pass a written exam.

Advancement

Some top executives and financial managers have a background in accounting, internal auditing, or finance.

Beginning public accountants often advance to positions with more responsibility in 1 or 2 years and to senior positions within another few years. Those who excel may become supervisors, managers, or partners; open their own public accounting firm; or transfer to executive positions in management accounting or internal auditing in private firms.

Management accountants often start as cost accountants, junior internal auditors, or trainees for other accounting positions. As they rise through the organization, they may advance to accounting manager, chief cost accountant, budget director, or manager of internal auditing. Some become controllers, treasurers, financial vice presidents, chief financial officers, or corporation presidents.

Public accountants, management accountants, and internal auditors can move from one aspect of accounting and auditing to another. Public accountants often move into management accounting or internal auditing. Management accountants may become internal auditors, and internal auditors may become management accountants. However, it is less common for management accountants or internal auditors to move into public accounting.

Important Qualities

Analytical skills. Accountants and auditors must be able to identify issues in documentation and suggest solutions. For example, public accountants use analytical skills in their work to minimize tax liability, and internal auditors use these skills to detect fraudulent use of funds.  

Communication skills. Accountants and auditors must be able to listen carefully to facts and concerns from clients, managers, and others. They must also be able to discuss the results of their work in both meetings and written reports.

Detail oriented. Accountants and auditors must pay attention to detail when compiling and examining documentation.

Math skills. Accountants and auditors must be able to analyze, compare, and interpret facts and figures, although complex math skills are not necessary.

Organizational skills. Strong organizational skills are important for accountants and auditors who often work with a range of financial documents for a variety of clients.

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Internal Audit Internship jobs

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Internal Audit Internship Career Paths

Internal Audit Internship
Project Manager Vice President Chief Finance Officer
Chief Finance And Operating Officer
14 Yearsyrs
Law Clerk Senior Associate Senior Accountant
Corporate Accounting Manager
8 Yearsyrs
Finance Analyst Controller
Corporate Controller
12 Yearsyrs
Fellow Instructor Operations Manager
Director Of Sales
10 Yearsyrs
Analyst Senior Finance Analyst Accounting Manager
Division Controller
9 Yearsyrs
Internal Auditor Controller
Finance Controller
9 Yearsyrs
Business Analyst Senior Analyst Senior Finance Analyst
Finance Planning Manager
8 Yearsyrs
Law Clerk Analyst Controller
Finance Vice President
9 Yearsyrs
Finance Analyst Finance Manager Sales Manager
General Manager
7 Yearsyrs
Project Manager Senior Manager Internal Auditor
Internal Audit Manager
8 Yearsyrs
Fellow Research Associate Program Manager
Marketing Director
7 Yearsyrs
Accountant Business Analyst Product Manager
Marketing Manager
6 Yearsyrs
Staff Accountant Finance Manager Sales Manager
Operations Manager
7 Yearsyrs
Analyst Human Resources Coordinator Payroll Specialist
Payroll Manager
7 Yearsyrs
Business Analyst Senior Finance Analyst Accounting Manager
Plant Controller
10 Yearsyrs
Accountant Senior Accountant Controller
Regional Controller
10 Yearsyrs
Legal Assistant Office Manager Accounting Manager
Senior Accounting Manager
10 Yearsyrs
Legal Assistant Human Resources Coordinator Controller
Senior Director Of Finance
14 Yearsyrs
Staff Accountant Finance Analyst Finance Manager
Senior Finance Manager
11 Yearsyrs
Internal Auditor Finance Analyst Assistant Vice President
Vice President And Manager
10 Yearsyrs
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Internal Audit Internship Demographics

Gender

  • Female

    49.4%
  • Male

    39.7%
  • Unknown

    10.9%

Ethnicity

  • White

    63.8%
  • Asian

    23.5%
  • Hispanic or Latino

    9.5%
  • Unknown

    2.4%
  • Black or African American

    0.8%
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Languages Spoken

  • Spanish

    29.6%
  • Chinese

    14.0%
  • Mandarin

    13.1%
  • French

    11.0%
  • German

    4.3%
  • Korean

    3.6%
  • Japanese

    3.4%
  • Russian

    3.2%
  • Portuguese

    3.0%
  • Cantonese

    2.9%
  • Arabic

    2.9%
  • Italian

    2.8%
  • Hindi

    2.0%
  • Urdu

    0.9%
  • Vietnamese

    0.8%
  • Tagalog

    0.7%
  • Polish

    0.5%
  • Romanian

    0.4%
  • Greek

    0.4%
  • Hebrew

    0.4%
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Internal Audit Internship

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Internal Audit Internship Education

Internal Audit Internship

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Top Skills for An Internal Audit Internship

AuditReportsFinancialStatementsEnsureComplianceInternalControlsInternalAuditSOXSarbanes-OxleyInternationalTradeInternalMedicineLanguageMarketResearchPowerpointHumanResourcesRiskAssessmentInternationalBusinessCustomerServiceAuditFindingsForeignExchangeFacebookRiskManagement

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Top Internal Audit Internship Skills

  1. Audit Reports
  2. Financial Statements
  3. Ensure Compliance
You can check out examples of real life uses of top skills on resumes here:
  • Created three audit reports, which included: management letter, internal control recommendations and financial ratios.
  • Analyze financial statements to identify trends and anomalies in financial data.
  • Participated in the work of team of the auditors auditing government agencies to ensure compliance with established budgets.
  • Test internal controls and operational procedures to ensure compliance.
  • Assisted the Internal Auditor in Charge in the performance of operational audits in accordance with departmental standards.

Top Internal Audit Internship Employers

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