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Internal audit internship vs lead auditor

The differences between internal audit interns and lead auditors can be seen in a few details. Each job has different responsibilities and duties. Additionally, a lead auditor has an average salary of $85,352, which is higher than the $30,264 average annual salary of an internal audit internship.

The top three skills for an internal audit internship include internal audit, data analytics and SOX. The most important skills for a lead auditor are ISO, medicare, and management system.

Internal audit internship vs lead auditor overview

Internal Audit InternshipLead Auditor
Yearly salary$30,264$85,352
Hourly rate$14.55$41.03
Growth rate6%6%
Number of jobs62,78020,504
Job satisfaction--
Most common degreeBachelor's Degree, 67%Bachelor's Degree, 58%
Average age4444
Years of experience--

What does an internal audit internship do?

An internal audit intern is responsible for performing administrative and clerical duties as needed for the financial department under the supervision of tenured staff or a direct manager. Internal audit interns shadow staff on analyzing and preparing documents, familiarizing office operations, writing financial reports, verifying account statements, and escalating financial discrepancies to management for immediate resolution. An internal audit intern must be detail-oriented, as well as possess excellent analytical and organizational skills to handle tasks efficiently and spot audit inconsistencies.

What does a lead auditor do?

Lead auditors are professionals who are responsible for providing leadership and coordinating work schedules to a team of audit experts within an organization. These lead auditors are required to prepare audit plans and conduct team meetings before conducting internal or external audits at the end of the quarter or year. They must conduct audits to provide reviews to the management about the effectiveness of the overall quality system. Lead auditors must also develop action plans to improve the financial reporting systems of the organization.

Internal audit internship vs lead auditor salary

Internal audit interns and lead auditors have different pay scales, as shown below.

Internal Audit InternshipLead Auditor
Average salary$30,264$85,352
Salary rangeBetween $12,000 And $71,000Between $62,000 And $115,000
Highest paying CityNew York, NYNew York, NY
Highest paying stateNew YorkNew York
Best paying companyMDU ResourcesMeta
Best paying industryEnergyProfessional

Differences between internal audit internship and lead auditor education

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

Internal Audit InternshipLead Auditor
Most common degreeBachelor's Degree, 67%Bachelor's Degree, 58%
Most common majorAccountingBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Internal audit internship vs lead auditor demographics

Here are the differences between internal audit interns' and lead auditors' demographics:

Internal Audit InternshipLead Auditor
Average age4444
Gender ratioMale, 50.7% Female, 49.3%Male, 57.9% Female, 42.1%
Race ratioBlack or African American, 7.6% Unknown, 3.9% Hispanic or Latino, 9.9% Asian, 18.5% White, 59.6% American Indian and Alaska Native, 0.5%Black or African American, 8.7% Unknown, 4.0% Hispanic or Latino, 11.0% Asian, 12.2% White, 63.7% American Indian and Alaska Native, 0.5%
LGBT Percentage7%7%

Differences between internal audit internship and lead auditor duties and responsibilities

Internal audit internship example responsibilities.

  • Test Sarbanes-Oxley controls for institutional billing, wholesaler incentive compensation, retail manage account revenue, and journal entry processing.
  • Review management's SOX testing, identify exceptions and communicate to management.
  • Perform basic bookkeeping, keeping accurate track of numerous transactions per GAAP standards.
  • Perform substantive testing of revenue, purchases, and payments in order to evaluate accuracy and compliance with GAAP.
  • Gather audit evidence/supporting documentation for the SOX compliance audit.
  • Document internal controls, conduct financial statement analysis, and perform daily tasks on Sarbanes-Oxley testing.
    • Show more

Lead auditor example responsibilities.

  • Manage the SOX business process implementation, execution and improvement initiatives.
  • Work with department analyst to create measurement tools and methods for communicating results and managing QA analysis in compiling/reporting results.
  • Enhance Sarbanes-Oxley (SOX) audit templates to provide standardization and structure that reflect current best practices while maximizing productivity.
  • Work the RMEI/RMAU reports regularly for various Medicare account types.
  • Develop exact specifications to determine why claims are not paid in accordance with specific DME Medicare guidelines.
  • Conduct surveillance and assessment of manufacturing firms, industries and companies to ensure that these systems comply with ISO standards.
    • Show more

Internal audit internship vs lead auditor skills

Common internal audit internship skills
  • Internal Audit, 22%
  • Data Analytics, 8%
  • SOX, 5%
  • Patients, 5%
  • Sarbanes-Oxley, 4%
  • Risk Management, 4%
Common lead auditor skills
  • ISO, 16%
  • Medicare, 10%
  • Management System, 6%
  • Audit Reports, 5%
  • Corrective Action, 5%
  • Internal Controls, 4%

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Updated January 8, 2025

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