An Internal Audit Manager's primary responsibility is to handle all the internal audit assignments of an organization. This involves risk assessment, junior staff supervision to ensure procedures are followed, allocating audit assignments, and producing audit reports. Another important role of an Internal Audit Manager is to point out material misstatements in a company's financial statements and make recommendations on correcting them. This also ensures compliance with financial reporting standards and guidelines.
An Internal Audit Manager is an integral part of management. He/she helps in the minimization of fraud through the development of appropriate policies and procedures, thus helping the company to continue as a going concern. An internal audit manager can work in any organization in any industry. Some may choose to specialize in a particular industry, e.g., healthcare, while others may decide to work in all industries.
An Internal Audit Manager typically works 40 hours a week from Monday to Friday from 9:00 a.m. to 5 p.m.
There is more than meets the eye when it comes to being an internal audit manager. For example, did you know that they make an average of $54.85 an hour? That's $114,096 a year!
Between 2018 and 2028, the career is expected to grow 6% and produce 90,700 job opportunities across the U.S.
There are certain skills that many internal audit managers have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed analytical skills, detail oriented and math skills.
When it comes to the most important skills required to be an internal audit manager, we found that a lot of resumes listed 39.5% of internal audit managers included internal audit, while 7.3% of resumes included risk management, and 5.8% of resumes included special projects. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the internal audit manager job title. But what industry to start with? Most internal audit managers actually find jobs in the finance and manufacturing industries.
If you're interested in becoming an internal audit manager, one of the first things to consider is how much education you need. We've determined that 71.5% of internal audit managers have a bachelor's degree. In terms of higher education levels, we found that 18.5% of internal audit managers have master's degrees. Even though most internal audit managers have a college degree, it's impossible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become an internal audit manager. When we researched the most common majors for an internal audit manager, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on internal audit manager resumes include associate degree degrees or diploma degrees.
You may find that experience in other jobs will help you become an internal audit manager. In fact, many internal audit manager jobs require experience in a role such as senior auditor. Meanwhile, many internal audit managers also have previous career experience in roles such as senior internal auditor or internal auditor.