How Do I Prepare for an Internal Auditor Interview?

Filed in Interviews by on February 29, 2024

If you want to be an accounting professional, get ready by understanding the Internal Auditor interview questions they might ask in the interview and how to answer them well.

Internal Auditor Interview Questions

Internal Auditors are accounting professionals who provide organizations with guidance on financial accuracy, internal controls, and regulatory compliance.

They examine records, reports, operating practices, documentation, and other financial and risk management processes of the organization.

As we go further, we’ll talk about different questions you might get in an Internal Auditor interview and give examples of how to answer them.

Internal Auditor Interview Questions and Answers

If you’re starting or trying to move up in internal auditing, getting ready for an interview means going deep into what you know and being good at explaining things clearly.

It’s not just about the technical things; it’s also about how well you can talk about it so everyone understands.

These are some of the internal auditing interview questions and answers you may come across;

Question 1: Why do you want to work here?

Answer: I’m looking forward to working with your organization which seems to be growing, and I think my skills in internal auditing will play a great role in its success.

I’ve been told that a caring environment and good benefits are what the current employees have.

Question 2: What are the reasons behind the internal audits?

Answer: Internal audits are a great tool to tell which areas are successful and which need to be fixed.

They can reduce expenses, increase returns, and make the company more appealing to investors.

Internal audits enable the organization to comply with rules and regulations and improve its effectiveness.

Question 3: What is the procedure of an internal audit?

Answer: To get ready for the internal audit, I create good and strong connections with my teammates and department managers.

I create an annual audit schedule, discuss the audit’s aim with related departments, and obtain necessary financial documents.

Question 4: What are the so-called substantial tests?

Answer: Substantive tests are more thorough than other tests in the sense that they will catch all the small errors that could save the company some money.

It guarantees the correctness of the financial registers.

What to Expect in Internal Auditor Interviews

Question 5: What happens to the post internal audit?

Answer: Once the internal audit is completed, I meet with departments to help them understand the corrective actions that we have identified.

I request feedback on my performance and I ensure that the corrective action deadlines are realistically set.

The history of modifications done by managers is preserved in the form of meticulous records.

Question 6: What is ISO 9001:2000?

Answer: ISO 9001:2000 is a set of standards from the International Organization for Standardization (ISO) for products and services.

Following these standards can improve customer satisfaction, quality, safety, and efficiency.

Question 7: How are regulatory audits different from performance audits?

Answer: Regulatory audits focus on financial reporting, providing expert opinions on changes for efficiency and profitability.

Performance audits examine daily operations and individual programs, presenting detailed facts for managers to form their opinions on improvements.

Question 8: What are the purposes of ISA 610 and INTOSAI standards?

Answer: ISA 610, part of International Standards for Auditing, guides internal and external auditors on effective collaboration.

The International Organization of Supreme Audit Institutions(INTOSAI), set standards and guidelines for regulatory and performance audits by government offices and organizations.

Question 9: Have you ever found someone doing something wrong at work? What did you do about it?

Answer: Yes, I caught someone doing financial fraud during a regular check. I gathered proof and told the higher-ups, to follow the company rules.

Key Internal Auditor Interview Questions Uncovered

Question 10: Visualize a case where it is evident that the business is in a serious crisis. What would be your solution to the problem?

Answer: When I see a big problem, I talk to all the people who are concerned with this issue to find out how serious it is. Then, I’d think of a way to get rid of the problem.

Question 11: Inform us of a major issue that you encountered while the company was executing its work. Did you manage to do it, and what advice did you give to solve it?

Answer: As I was checking how we get our supplies, I realized that we are throwing money away. I proposed some steps to make things function well.

Question 12: How would you handle the situation if your workmates are not cooperating?

Answer: If the team members are not working well I will talk to them to find out the cause and work out a solution to prevent any problems during the check.

Question 13: Have you ever been at odds with your superiors or staff? What happened?

Answer: I was at odds with my teammates about the speed we needed to change a rule. We discussed it and agreed.

A Guide to Internal Auditor Interview Queries

Question 14: Talk about the idea of yours that helped in the success of the company. Did you propose anything, and how did things turn out?

Answer: I suggested the implementation of new checks software, which would save time and money.

Question 15: Have you ever found yourself in a situation where you were trying to convince others to act according to your suggestion and they were not willing to do so? What did you do?

Answer: I wanted to do something new and change the way we store the data, but not everyone was in favor of it. I justified the reason, and everyone eventually concurred.

Question 16: For example, if someone asks you to do something sinful, what would you do? What’s your reaction?

Answer: If somebody asks me to do something wrong, I would say no and report it to the authorities within the company.

Question 17: How do you plan the check-ups? What one should take into account?

Answer: When I plan, I think of the checklist, the reasons for it, and the time and help available. I am more focused on the aspects that could have a bigger impact on the community.

Question 18: Why should a company have an internal audit?

Answer: Internal checks help the company do things right and ensure that it is aware of the risks and how to control them.

Tackling Internal Auditor Interview Queries

Question 19: How do we differentiate between a person who does something wrong intentionally and a person who makes a mistake?

Answer: Fraud is a deliberate act of doing something wrong on purpose. Maybe it was an accident and they didn’t intend to do such a thing.

In my job, I’m worried about both reporting and writing to make sure the information is correct and fair.

Question 20: How do you control the company externally?

Answer: I am in contact with the outside checkers by making a plan with them, talking to them, sharing our work, and also discussing any money or rule problems we discover during the checks.

A good internal auditor has to pay attention to small details and solve various problems, and he/she needs to be well-versed in rules and risk management.

They should be courteous and skillful in settling disputes among the people. Know that the interviewer is not only interested in the figures and the rules that you have put in place.

The very essence of being a great internal auditor is all about being meticulous, knowing the rules by heart, and being good at coming up with solutions.

As well, be sure to explain how well you work with others, because cooperation is a key issue.

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