Auditor Jobs & Career Guide

An auditor works within an organization to review the internal controls, including corporate governance and accounting processes. They provide independent and objective evaluations of the company’s financial and operational business activities.

For the purposes of this guide we are focusing on an internal auditor (as opposed to an external auditor which performs a similar function but is usually employed by an external party for example an audit firm.

Internal auditors must be independent from the operations they evaluate and report directly to a high level of management, often to the Audit Committee of the Board of Directors, and administratively to the Chief Financial Officer (CFO) or sometimes directly to the Chief Executive Officer (CEO). This positioning helps ensure that internal auditors have unrestricted access to the records and personnel necessary to perform their duties and that their reports are free from management influence.

Here is a typical day in the life of an auditor working within a large software company:

• 8:00 AM: Arrival at the office followed by a review of emails and the day’s schedule. This is a time to prioritize tasks, check for urgent communications, and prepare for meetings.
• 8:30 AM: The internal audit team holds a brief daily stand-up meeting to discuss the status of ongoing audits, exchange updates on significant findings, and coordinate activities for the day.
• 9:00 AM: Preparation for a scheduled audit of the company’s new billing system. This preparation involves reviewing the system’s controls, previous audit reports, and planning specific tests to assess the effectiveness of these controls.
• 10:00 AM: Conducting interviews with key personnel involved in the billing process to understand process flows, identify any changes since the last audit, and gather insights into challenges they are facing.
• 12:00 PM: Lunch break
• 1:00 PM: Reviewing the documentation and initial findings from the morning’s audit activities, and starting to compile notes and observations into a draft audit report.
• 2:00 PM: Participating in a cross-departmental meeting with IT and finance teams to discuss the integration of a new financial software tool and assess its security and compliance features before full deployment.
• 3:00 PM: Analyzing financial data from recent transactions processed through the new billing system using specialized audit software to look for any anomalies or patterns that might indicate control weaknesses or errors.
• 4:00 PM: Preparing for a presentation to the audit committee, which involves consolidating audit findings from various departments and creating a PowerPoint presentation that highlights key risks, recommendations, and action items.
• 5:00 PM: Meeting with the audit manager to discuss the progress of current audits, share challenges, and receive feedback on findings. This time is also used to discuss professional development goals and upcoming training opportunities.
• 6:00 PM: Finalizing tasks for the day, responding to any last-minute emails, and reviewing the schedule for the next day to ensure readiness for upcoming activities.
• 6:30 PM: Departure from the office.

The average salary of an internal auditor is $70,575. The highest 10% of internal auditors can expect to earn as much as $128,000. See our salary guide for more detailed insights.