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
Determine the prioritization of internal audit resources in order to properly address all risks and exposures.
Assist with the annual risk assessment and developing the audit population.
Collaborate with management and other business partners to develop partnerships, obtain audit documentation, and resolve sensitive audit issues.
Conduct operational, compliance, financial, and SOX audits within an organization.