The Manager's Guide to the Internal Audit Manager Role
This Manager's Guide includes:
The complete set of 21 Competencies expected from the role
Interview questions for determining a candidate's skill level in each of 21
Coaching tips for helping incumbent to advance their skills in each of the 21
Development goals to help measure incumbents' progress in each of the 21
Recommended resources for progressing education in each of the 21
Roles and Responsibilites
The primary responsibility of the Internal Audit Manager is internal audit, internal controls, risk management, regulatory compliance and reporting functions.
The Internal Audit Manager conducts/leads internal audits to assess the effectiveness of controls, accuracy of financial records, efficiency of operations, and compliance with governmental regulation.
A typical job description for the Internal Audit Manager role may include:
Oversees the auditing of accounting and financial data of various departments within an organization.
Assists in the design and administration of audit policy and procedure within the organization.
May require a bachelor's degree in area of specialty and at least 8 years of experience.
Familiar with a variety of the field's concepts, practices, and procedures.
Relies on extensive experience and judgment to plan and accomplish goals.
Performs a variety of tasks.
Leads and directs the work of others.
A wide degree of creativity and latitude is expected.
Typically reports to top management.
The Internal Audit Manager typically serves as member of management and is considered a senior level consulting within the organization. As such, the Internal Audit Manager provides functional, technical or process leadership. The organization will depend on this person's management of multiple teams. The Internal Audit Manager generally is responsible for high complexity and ambiguity. As such, the Internal Audit Manager provides tactical responsibilities.
Internal Audit Manager Job Responsibilities
The Internal Audit Manager generally has the following
Develops audit scope, objectives, and work plans, including the selection of appropriate audit tests, identification of key controls, utilization of statistical methods, and use of survey, interview and computer-assisted audit techniques.
Designs the strategy and calendar for creating, implementing and enhancing internal auditing procedures.
Coordinates year-end external audit of internal controls and business processes.
Maintains awareness of internal control audit trends to assure audit processes remain effective.
Internal Audit Manager Competencies
The complete Internal Audit Manager Manager's Guide
includes the 21
key competencies expected of Internal Audit Manager. The report defines each Competency
in detail. The report also explains what level of proficiency Internal Audit Manager
should have in that Competency, as well as how important that Competency is to performing
the role well.
Among the 21 Competencies for Internal Audit Manager is...
Audit and Compliance Function
You may observe several behaviors in a person that could be strong indicators of his or her capabilities in the Audit and Compliance Function competency. The Internal Audit Manager is expected to demonstrate Extensive experience in the Audit and Compliance Function competency. To demonstrate Extensive experience in the Audit and Compliance Function competency, one should demonstrate knowledge of and ability to manage the major responsibilities, accountabilities, and organization of the audit and compliance (A&C) function or department.
Manages one or more A&C functions or units.
Contributes to development of A&C strategies and plans.
Facilitates compliance-related business process implementation or improvement initiatives.
Contributes to the establishment of best practices for A&C.
Implements specific organizational changes made in response to the Sarbanes-Oxley Act.
Improves key relationships and dependencies among Audit, IT and other business functions.