7 Strong Internal Auditor Interview Questions To Fire Away in an Interview

Post your jobs for free

Elevatus’ world-class hiring platform helps you post jobs for free with one click to 2,000+ job boards, channels, and social media platforms.
Request demo

Have you found excellent Internal Auditor candidates and want to hire the best?

Then, in order to determine who is the best fit, you must ask great Internal Auditor interview questions.

But first, what exactly is the role of an Internal Auditor?

The Internal Audit’s role is to provide independent assurance that an organization’s risk management, governance, and internal control processes are working properly.

The Internal Auditor has a professional duty to provide an unbiased and objective view. They must be separate from operations in order to evaluate and report to the highest level of an organization: Governors and Senior Managers.

A recruiter choosing the best candidate after asking internal auditor interview questions

In sum, Internal Auditors help organizations to succeed. Therefore, you need to recruit a great one by asking the right Internal Auditor interview questions.

So, without further ado, let’s get down to business!

Question #1: Why did you apply for this position?

Why this question is important as one of the Internal Auditor interview questions:

By asking this question you want to discover how much they know about their company and the position they applied for. By finding out what they know about your company, you will know how much research the candidate has done about your company before applying. Asking this will also provide insights into the candidate’s years of experience and accomplishments and how it relates to the position and the company.

What you should be listening for (A sample of a candidate’s answer):

“Your company is expanding, and the prospect of using my internal auditing skills to help you become even more successful sounds very appealing.” Your company also provides excellent benefits, and current employees rave about the welcoming environment.”

Question #2: Why are Internal Audits necessary?

Why this question is important as one of the Internal Auditor interview questions:

Internal Auditors must understand the benefits of the position and exactly how they can help businesses. They help with the management plan, organize, direct and control their operations. By doing so, companies can make the changes needed to comply with laws and regulations, increase their profits and achieve their goals faster.

What you should be listening for (A sample of a candidate’s answer):

“An Internal Audit identifies which aspects of your business are successful and which require improvement. It can assist you in lowering costs, increasing profits, and making your company more appealing to investors. It also facilitates the development of monitoring procedures, the streamlining of business processes, and the compliance with laws.”

Question #3: Explain the steps to prepare for and perform an Internal Audit.

Why this question is important as one of the Internal Auditor interview questions:

This question can be used to ensure that the candidate understands all aspects of the internal auditing process. A skilled Internal Auditor should also ensure that the audit team’s authority is well-established in order to improve cooperation with those being audited. Auditors should determine which departments will require Internal Audits and how frequently. They should create and distribute a yearly audit schedule, as well as ensure that the audit adheres to government regulations, quality standards, and internal procedures and systems.

What you should be listening for (A sample of a candidate’s answer):

“I always get to know my team members and department heads well so that we can collaborate effectively during the audit. I also create a yearly audit schedule to allow management ample time to prepare for each audit. Then, with the appropriate departments, I discuss the purpose and scope of each audit. I work with my team to identify areas for improvement after receiving the financial records I require from the treasurer. Finally, I wrote a brief report with suggestions for improvement.”

Question #4: Can you describe substantive tests?

Why this question is important as one of the Internal Auditor interview questions:

You can use this question to ensure that the candidate understands the importance of thoroughly reviewing documents. Substantive testing is the phase of an Audit in which the Auditor collects samples to identify any material misstatements in the client’s accounting records or other information. This evidence is required to back up the conclusion that a company’s financial records are complete, relevant, and accurate.

What you should be listening for (A sample of a candidate’s answer):

“During substantive testing, auditors thoroughly examine all documents received. Detecting and correcting a minor error that appears insignificant to others could save your company thousands of dollars and teach employees how to avoid future blunders. Substantive testing ensures the accuracy of all financial records. During my first audit, I will thoroughly inspect everything. In future auditing cycles, I will concentrate on areas that appear questionable based on financial statement data.”

Question #5: What should you do after an Internal Audit?

Why this question is important as one of the Internal Auditor interview questions:

Allow the candidates to demonstrate their knowledge. Auditors should meet with those affected to discuss nonconformities. Nonconformance is a problem, issue, or violation of company regulations that can cause a company to lose money. Nonconforming reports, data, test results, intellectual property, and other items are possible. Internal Auditors should also establish reasonable deadlines for corrective actions, solicit feedback from team members, and maintain detailed records of completed corrective actions.

What you should be listening for (A sample of a candidate’s answer):

“I would discuss nonconformances with the audited departments and ensure that managers understand which corrective actions should be taken.” I would also receive feedback on my own and my team’s performance. I would ensure that the deadlines for corrective actions are reasonable and that managers keep detailed records of the changes they make.”

Question #6: What is ISO 9001:2000?

Why this question is important as one of the Internal Auditor interview questions:

This question assesses the candidate’s understanding of international management standards. The goal of ISO 9001:2000 is to encourage the use of a process-oriented management approach in organizations. As a result, Internal Auditors must follow a similar strategy.

The ISO 9001 Internal Audit is designed to evaluate the effectiveness of the quality management system as well as the overall performance of the organization. Internal Audits show that your “planned arrangements” are being followed.

What you should be listening for (A sample of a candidate’s answer):

“ISO 9001:2000 is a set of product and service specifications developed by the International Organization for Standardization (ISO). Following it can keep customers happy while also improving quality, safety, and efficiency. ISO 9001:2000 also requires businesses to maintain a wealth of current information about each product or service, making the jobs of Internal Auditors much easier.”

Question #7: What are the differences between regulatory or statutory audits and performance audits?

Why this question is important as one of the Internal Auditor interview questions:

This question helps you to make sure whether the candidate has a wide range of skills. Also, if the candidate can complete different types of Internal Audits based on the company’s needs.

What you should be listening for (A sample of a candidate’s answer):

“Financial reporting should be the focus of a regulatory or statutory audit. My regulatory or statutory audit would include my well-researched recommendations for improvements to your company’s efficiency and profitability. A performance audit, on the other hand, focuses on daily operations and specific programs or projects. Instead of an expert opinion, it should include a detailed statement of assurance that includes all of the facts that managers require. This allows them to form their own opinions about which enhancements are best.”

Encourage candidates to show, not tell

As you make your way through the interview process, feel free to adapt any of the Internal Auditor interview questions highlighted in this post. What’s more important than specific questions is the logic driving them.

Did you find these Internal Auditor interview questions helpful? If you’d like access to more interview questions and job description templates, visit our HR resources blog, where you’ll find hiring best practices, recruitment trends, and tips and tricks that help you stay ahead of the competition.

Looking to pinpoint and recruit the best Internal Auditor?

EVA-SSESS is a next-generation video interviewing software that enables businesses to pinpoint top talent and build diverse workforces quickly. It uses modern science and AI to help employers, and recruiters identify top performers in a fraction of time – through unbiased, reliable, and secure video assessment interviews that save more than 90% of your time. Request a free demo today and get to see our futuristic software in action!

Post your jobs for free

Elevatus’ world-class hiring platform helps you post jobs for free with one click to 2,000+ job boards, channels, and social media platforms.
Request demo

Leave a Reply

Your email address will not be published.

Start hiring top talent faster!

Join the hundreds of companies who are already hiring successfully with Elevatus

Get ready for a tour!

Learn more about our solution and discover everything you can do with Elevatus. Fill in the form below so we can get you started!