Internal Auditor - Career Guide

The work of an internal auditor typically follows four key phases, each with its own objectives and deliverables:

1. Scoping: the auditor begins by clearly defining the purpose of the audit and the scope of the investigation. This includes reviewing past reports, management reviews, and performance data to understand the company’s current situation. A detailed audit plan is then drafted, setting out the methodology, timelines, and resources needed. This stage ensures that both management and the audit team are aligned on objectives from the start.

2. Investigation: once the framework is in place, the auditor moves into the analytical stage. This involves examining financial and operational data, conducting field interviews with employees, and observing procedures in action. The goal is to obtain a realistic picture of how processes are applied in practice compared to how they should function. By combining quantitative data with qualitative insights, auditors are able to highlight both strengths and weaknesses.

3. Reporting: after collecting evidence, the auditor prepares a clear and structured report. This document identifies risks, inefficiencies, or compliance issues, while also emphasising positive practices. Findings are then presented to management and discussed with the teams concerned, ensuring that recommendations are not only understood but also actionable. The quality of this reporting phase is critical, as it turns raw analysis into strategic insight.

4. Follow-up: the final phase focuses on the implementation of recommendations. Auditors help design corrective action plans, monitor their progress, and verify their effectiveness over time. Regular follow-up ensures that improvements are sustained and that the organisation achieves tangible benefits from the audit.

Beyond these phases, internal auditors may also contribute to broader company strategy, for example by developing the annual internal audit plan, helping to design risk management frameworks, or leading a team of auditors in large organisations. This positions them not only as controllers of compliance, but also as partners in performance and growth.

Unlike external auditors who work independently or in specialised firms, internal auditors are employees of the organisation they audit. They often work closely with senior management, risk committees, or audit directors.

Internal auditors are especially common in large groups with multiple subsidiaries, but opportunities exist across all sectors. The role is not always office-based: many assignments require on-site visits to subsidiaries, factories, or branch offices.

To become an internal auditor, a five-year degree is required. After high school, there are several possible paths to follow at business school, engineering school, or university.

Students can begin their training through various two- or three-year programmes:

• Bachelor’s degree in Banking and Finance
• Diploma in Accounting and Management
• Bachelor’s degree in Economics and Management

Several higher education programmes requiring five years of post-secondary education are then available:

• Master’s degree in Accounting and Auditing, Auditing and Control,, Master’s degree in Finance, or Risk Management.
• Master of Science (MSc) programs : MSc in Finance and Risk Management, Risk, or International Audit for those seeking global opportunities.

Professional certifications such as the CIA (Certified Internal Auditor) or CPA/ACCA can also strengthen career prospects, particularly in international companies.

With several years of experience, auditors can progress to directing an entire audit department. They define the audit strategy, manage a team of specialists, and report directly to the board or audit committee.

Some auditors transition into controlling roles, where they prepare budgets, track performance indicators, and contribute to improving the organisation’s financial health. Their audit background helps them analyse variances and optimise processes.

Auditors with a strong focus on risk can evolve as risk managers. Here, they identify financial, operational, and strategic risks, and design mitigation plans to safeguard the company’s growth.

With the growing importance of sustainability, auditors can specialise in corporate social responsibility. They assess environmental and social practices, ensuring that companies meet ESG standards and improve their long-term impact.

After gaining cross-functional expertise, experienced auditors may take on broader responsibilities, leading finance and administration teams, and shaping overall business strategy.