The responsibility of an auditor is to inspect financial documents and records for any possible fraud, theft, or waste of time and company resources. Senior internal auditors typically manage a smaller team of internal auditors within the company. They guide each internal auditor in the process of conducting an audit project or assignment. They make sure that internal auditors are following the proper procedures and policies set in place for conducting an audit.
These senior officials often cooperate in the design and implementation of all internal audits. They examine the records of a business, such as spreadsheets, income reports, and other important financial documents, to identify any areas that seem like they may be incorrect or suspicious.
Most businesses usually hire outside companies to do their audits, but an internal auditor works within the company.
Senior internal auditors take the information that they have discovered during an audit and report back to management. They create a report that documents the area that they examined and any instances that may be incorrect or affecting efficiency within the company. They can also advise management on how to rectify the situation or alter procedures in order to make a certain area more financially productive.
Senior internal auditors must have at least a bachelor’s degree in accounting or a similar field. In order to be promoted to a senior position, they must typically have at least five years' experience in an auditing position.
Senior Internal Auditor Tasks
- Evaluate and document existing or proposed procedures and controls.
- Provide management with recommendations for policy, procedure and practice improvements.
- Conduct operational, compliance, financial and SOX audits within an organization.
- Acts as a liaison for audits with internal departments as well as outside auditors.