Internal Auditors: the skills you need
Is there a list of key skills that an auditor should have? We list out some key ones that every auditor should look to have in their repertoire.
2 min read
I often get asked by those thinking about a career in internal audit, or people who are working their way through the early stage of their career: what makes a good internal auditor?
There really isn't a template, but there are some key skills that do need to be there. So if you see some of the below qualities in you, then maybe you are on the way to a life long career in audit!
You can use some of these pointers in interviews and applications to evidence your skill set and why you are ready to progress to the next audit level.
Brilliant communication skills: Internal auditors need to be top-notch communicators, as they liaise with various stakeholders within the organisation. They must articulate risks clearly, present their findings in a manner that’s easy to understand, and effectively negotiate with management on corrective actions. They also need to listen actively to understand others’ perspectives and respond appropriately.
Unyielding curiosity: A good internal auditor is naturally curious and always keen to learn. They ask probing questions to understand how things work and are always looking for ways to improve processes. This curiosity drives them to dig deeper during audits, helping them uncover issues that might otherwise be overlooked.
Technology savvy: In today’s digital age, internal auditors must be technologically adept. They need to understand how to use technology to carry out their duties effectively. This includes using data analytics tools to analyse large volumes of data, understanding how different IT systems work, and staying updated on the latest technological trends and risks.
Ability to work Independently and as part of a team: Internal auditors must be able to work independently, conducting audits and making decisions without constant supervision. At the same time, they also need to be effective team players, collaborating with other auditors and stakeholders to achieve common goals.
Drive to be life-long learners: The field of internal auditing is constantly evolving, so auditors must have a commitment to continuous learning. This includes staying updated on new auditing standards, regulations, and best practices, as well as developing new skills and knowledge areas.
Integrity and Courage: Internal auditors must have the integrity to stand by their findings and the courage to present and defend their results, even when they are challenged. They must be honest, ethical, and unbiased in their work, and they must be willing to take a stand for what is right, even if it is unpopular.
Analytical skills: Internal auditors need to have strong analytical skills to interpret complex information and make informed decisions. They must be able to analyse data, identify patterns, spot anomalies, and draw logical conclusions.
Business and risk acumen: Understanding the business and it's associated risks is crucial for an internal auditor. They need to understand the organisation’s business model, industry, and competitive environment, as well as the key risks it faces. This knowledge enables them to identify potential issues and provide valuable insights to management.
Critical thinking and adaptability: As the internal audit function continues to evolve, auditors need to be adaptable and capable of critical thinking. They must be able to adapt to new situations, think critically about complex issues, and come up with innovative solutions. They also need to be flexible and open-minded, willing to change their approach when necessary.
