How do you become an internal audit manager?

1 Step 1: Get an accounting degree

The first step to becoming an internal audit manager is to get a bachelor's degree in accounting or a related field, such as finance, business administration, or economics. A degree in accounting will provide you with the foundational knowledge and skills you need to understand and apply accounting principles, standards, and methods. You will also learn about financial reporting, auditing, taxation, ethics, and business law. A degree in accounting will also prepare you for the professional certifications you will need later in your career.

2 Step 2: Gain relevant experience

The second step to becoming an internal audit manager is to gain relevant experience in accounting and auditing. You can start by working as an accountant, auditor, or analyst in a public accounting firm, a private company, a government agency, or a non-profit organization. You will need to demonstrate your ability to perform various accounting and auditing tasks, such as preparing financial statements, conducting risk assessments, testing internal controls, identifying and reporting issues, and making recommendations for improvement. You will also need to develop your communication, teamwork, and leadership skills, as you will have to interact with clients, colleagues, managers, and regulators.

3 Step 3: Earn professional certifications

The third step to becoming an internal audit manager is to earn professional certifications that will enhance your credibility and competence in the field. Depending on your career goals and interests, there are several certifications you can choose from, such as the Certified Public Accountant (CPA) which is the most widely accepted and respected certification for accountants and auditors. This requires passing a four-part exam that covers topics such as auditing and attestation, business environment and concepts, financial accounting and reporting, and regulation. Additionally, you must meet the education, experience, and ethical requirements of your state board of accountancy. The Certified Internal Auditor (CIA) is another option which is the only globally recognized certification for internal auditors. It requires passing a three-part exam covering the essentials of internal auditing, practice of internal auditing, and business knowledge for internal auditing. You must also meet the education, experience, and character requirements of the Institute of Internal Auditors (IIA). Lastly, there’s the Certified Information Systems Auditor (CISA), which is the leading certification for IT auditors. Passing a one-part exam is required to cover topics such as IT auditing, governance, acquisition, development, implementation, operations, maintenance, and protection. In addition to this exam, you must meet the education, experience, and ethical requirements of the Information Systems Audit and Control Association (ISACA).

4 Step 4: Advance your career

The fourth step to becoming an internal audit manager is to advance your career by seeking higher-level positions and responsibilities in the internal audit function. You can look for opportunities within your current organization or apply for external jobs that match your skills and goals. You will need to demonstrate your ability to manage complex and challenging audit projects, supervise and mentor audit staff, coordinate with external auditors and regulators, and provide strategic insights and recommendations to senior management and stakeholders. You will also need to keep up with the latest trends and developments in the accounting and auditing profession, and pursue continuing education and training opportunities.

5 Step 5: Network and join professional associations

The fifth step to becoming an internal audit manager is to network and join professional associations that will help you expand your knowledge, skills, and contacts in the field. Networking can help you find new career opportunities, learn from other professionals, and share your expertise and experience. You can network through online platforms, such as LinkedIn, or attend events, such as conferences, seminars, workshops, and webinars. You can also join professional associations, such as the IIA, ISACA, or the American Institute of Certified Public Accountants (AICPA), that offer various benefits, such as access to resources, publications, certifications, education, and advocacy.