Acing the Internal Audit Interview: Top Questions and Answers

If you have an interview for an internal audit role, solid preparation will help you stand out. Companies rely on internal auditors to assess operations and controls objectively. Your job interview is their chance to determine if you have the necessary skills and mindset.

Expect interviewers to ask both technical questions about auditing as well as situational and behavioral questions This allows them to evaluate your experience, communication abilities, ethics and professionalism

In this comprehensive guide, we provide tips to help you have a stellar interview. Read on for the top internal audit interview questions with sample answers to help you win the job.

Why Interviews Matter for Internal Auditors

The interview allows the hiring manager to:

• Confirm your background, competencies and experience
• Evaluate communication, critical thinking and problem solving
• Assess ethics, integrity, discretion and judgment
• Get a feel for your work style and personality fit

It’s crucial to make a strong impression and prove you are the ideal candidate. Thorough preparation using example internal audit interview questions ensures you are poised and confident.

General Interview Questions

Interviews typically start with general open-ended questions:

• Why did you apply for this position? Share your interest in internal auditing and highlight relevant skills or experience.

• Why are internal audits important for a company? Demonstrate you grasp why regular internal audits add value.

• Where do you see yourself in 5 years? Show you have ambition and career growth goals in the audit field.

• What interests you about our company? Research their business and cite reasons you’re excited to join the team.

• What are your strengths? Pick 2-3 top qualities relevant to internal auditing like attention to detail, ethics, communication skills.

• What is your greatest weakness? Share a minor weakness unrelated to the role and your efforts to improve.

These questions allow you to summarize your background. Next, the interview will shift to more in-depth auditing questions.

Technical Questions

You’ll be asked about the technical mechanics of internal auditing. Be ready to answer:

• Explain the steps to prepare for and perform an internal audit. Show your methodology from audit planning to fieldwork to reporting.

• Can you describe substantive testing procedures? Demonstrate your understanding of techniques like reperformance, confirmations and analytical tests.

• What factors go into developing an audit plan? Discuss risk assessment, scope, priorities, budget, resource allocation.

• What should you do after completing an internal audit? Emphasize following up on actions plans and monitoring remediation.

• How do you determine which processes or controls to audit? Explain using risk-based approach and rotation to cover key risk areas.

• What regulations are you familiar with? SOX, FDICIA, OCC, Fed, HIPAA – cite those applicable to the industry.

• What experience do you have with data analytics? Quantify your knowledge of ACL, IDEA or other CAATs.

• How do you stay current on auditing standards? Read updates from AICPA, IIA, talk with colleagues to constantly improve.

Situational Questions

Situational questions present hypothetical scenarios for you to address. Examples include:

• Your audit uncovers a material weakness. How do you convince management to address it? Emphasize risks of non-action using logic, data and empathy.

• You suspect unethical conduct by a high-level executive. What steps would you take? Stress the need to gather proof and report objectively per policy.

• A department head pushes back on your findings. How do you respond? Acknowledge concerns professionally and reinforce your duty to report facts.

• You’re asked to cover up deficiencies prior to a regulatory audit. What would you do? Refuse and report this violation – your duty is to ethics and principles.

Share your logic and approach. Your reaction will reveal critical thinking, ethics, communication skills and professionalism.

Questions About You

Interviewers will try to get a sense of your work style by asking:

• Describe your ideal company culture. Focus on transparency, integrity, teamwork – values key for internal auditors.

• How do you prioritize tasks when everything is high priority? Share tools and techniques to organize and manage a demanding workload.

• Tell me about a time you had to be persuasive to get colleagues to act on an issue. Demonstrate good influences skills and insisting on doing the right thing.

• Have you handled pushback from executives on audit findings? Discuss remaining objective and helping leaders understand risks.

• What is your greatest accomplishment? Choose an example that highlights talents like developing processes, sharp analysis or initiative.

Questions You Should Ask

Towards the end, you will be given a chance to ask questions. Prepare at least 2-3 thoughtful queries such as:

• How does the internal audit team work with the external auditors? Look for collaboration and coordination.

• What are the biggest challenges facing the department? Shows interest in contributing.

• What traits make someone successful here? Gives insight into company culture and values.

• What opportunities exist for professional development and growth? Conveys your long-term intentions.

How to Ace the Internal Audit Interview: 7 Tips

Follow these strategies to master your interview:

1. Research the company and role. Check their website and news articles to understand challenges and priorities you may audit.

2. Review key regulations and standards. Brush up on relevant principles and frameworks so you are sharp.

3. Prepare examples relevant to the position. Link your skills, accomplishments and experience to the role.

4. Anticipate likely questions. Practice responses to both technical and situational interview questions.

5. Know your strengths and weaknesses. Be ready to discuss both along with what you offer.

6. Prepare smart questions to ask. Inquiring about the team, culture and goals conveys engagement.

7. Dress professionally and arrive early. Make a great last impression by being punctual, polite and enthusiastic.

Thorough preparation and practice ensures you deliver confident, thoughtful responses. Follow up promptly with a thank you note restating your interest. With these internal audit interview tips, you will prove you are the ideal candidate.

Questions to Ask the Interviewer

Along with asking smart questions, be ready to answer the typical questions interviewers pose:

• Why do you want to be an internal auditor? Show your passion for the profession.

• Why should we hire you? Summarize your most relevant qualifications and achievements.

• Where do you see yourself in 5 years? Demonstrate ambition to grow in the audit field.

• What is your greatest weakness? Discuss a minor weakness unrelated to the job along with your efforts to improve.

• Why are you leaving your current job? Focus on positive reasons like seeking new challenges and growth opportunities.

• What is your expected salary? Avoid giving a number. Say you are open to a fair offer based on the role and your experience.

With practice responding to likely internal audit interview questions, you will showcase your skills and impress the hiring team. Do your homework and trust your preparation.

Common Internal Audit Interview Questions (With Sample Answers)

Here are examples of popular internal audit interview questions along with suggestions for responding:

Q: Why do you want to work in internal auditing?

A: I’m passionate about helping organizations assess and improve their operations and controls. Internal auditing allows me to use my analytical skills to uncover risks and solve problems. I enjoy the constant learning and challenges.

Q: What auditing experience do you have?

A: I conducted operational, compliance and financial audits during my 3 years at XYZ Company. I planned audit programs, performed testing and analysis, documented findings and made recommendations on a variety of areas. I also used data analytics and visualization tools to gain insights.

Q: How do you ensure independence and objectivity when auditing?

A: I follow a strict methodology focused on facts. I listen to stakeholders but avoid bias by gathering evidence from multiple sources. My duty is to report on risks candidly, so I don’t compromise on ethics.

Q: You disagree with management on an audit finding. What do you do?

A: I would outline my rationale using concrete data. I would listen to their perspective and see if any additional context is needed. My goal is a fair outcome based on the facts, so I suggest compromises if possible. But I stand firm on material issues.

Q: Describe how you develop an audit plan.

A: I start by understanding the business, previous audits and key risk areas. Next I interview leaders on top concerns and priorities for the year. I assess resources and budget tradeoffs to optimize coverage and value-add. I present the plan to management and incorporate their input if appropriate.

Q: What is the most serious issue you uncovered during an audit? How did you handle it?

A: I identified unreliable inventory records that pointed to a significant loss of assets. I expanded testing to quantify the extent and presented initial findings to the