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Key Responsibilities and Required Skills for Audit Director

💰 $120,000 - $220,000

AuditFinanceRiskComplianceLeadership

🎯 Role Definition

The Audit Director leads the internal audit function for the enterprise, developing and executing a risk‑based audit plan, driving continuous improvement in internal controls and compliance, delivering insightful reporting to the Audit Committee and C-suite, and building audit capability through people leadership and modern audit technologies. This role balances strategic risk oversight with hands‑on program governance, fraud oversight, and stakeholder engagement to protect assets and enable informed business decisions.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Senior Internal Audit Manager or Regional Audit Manager
  • Head of Risk & Compliance or Director, Risk Management
  • Audit Partner / Senior Manager from public accounting with enterprise audit experience

Advancement To:

  • Chief Audit Executive (CAE) / Head of Internal Audit
  • Chief Risk Officer (CRO) or Chief Compliance Officer (CCO)
  • Financial or Operational Executive roles (CFO, COO) or Board Audit Committee advisor

Lateral Moves:

  • Director, Compliance & Regulatory Affairs
  • Director, Enterprise Risk Management (ERM)

Core Responsibilities

Primary Functions

  • Design, maintain and execute a risk‑based internal audit plan aligned to corporate strategy, regulatory requirements and emerging risk themes; prioritize audit coverage by assessing inherent and residual risk across finance, operations, IT and third‑party relationships.
  • Lead the end‑to‑end audit lifecycle — scoping, fieldwork, control testing, audit analytics, root‑cause analysis, reporting and remediation tracking — ensuring audit opinions are timely, evidence‑based and actionable.
  • Oversee Sarbanes‑Oxley (SOX) program governance including control design assessments, walkthroughs, documentation, testing strategy, deficiency reporting and remediation validation; serve as SOX liaison between business process owners, finance and external auditors.
  • Develop and present clear, executive‑level audit reports and presentations to the Audit Committee and senior leadership that quantify risk exposure, summarize control effectiveness and recommend prioritized mitigation actions.
  • Build, coach and retain a high‑performing audit team through recruitment, mentoring, performance management, career development and succession planning; set clear objectives tied to audit quality and stakeholder satisfaction.
  • Establish and maintain audit policies, methodologies and quality standards (e.g., IIA standards, COSO framework) and lead periodic quality assessments and peer reviews to ensure continuous improvement and compliance with professional standards.
  • Drive integration of audit analytics and data‑driven testing (IDEA, ACL, SQL, Python, Power BI/Tableau) into audit programs to increase coverage, detect anomalies, and deliver predictive insights that reduce residual risk.
  • Manage complex investigations of suspected fraud, misconduct or policy breaches; coordinate evidence collection, forensic testing, cross‑functional investigations and reporting to legal, HR and regulatory authorities as required.
  • Coordinate and optimize relationships with external auditors, regulators and other assurance providers; align audit schedules, share workpapers where appropriate and reduce redundancies in assurance activities.
  • Monitor and report on remediation progress for audit findings and risk exposures; own the remediation tracking process, escalate persistent or systemic issues to executive management and ensure closure with evidence.
  • Provide guidance and independent assurance on major projects (M&A, ERP implementations, large-scale transformation) by embedding audit into project governance, conducting pre‑go/no‑go assessments and post‑implementation control reviews.
  • Lead enterprise risk assessments and partner with ERM to identify emerging strategic, operational, regulatory and technology risks; translate risk assessments into audit priorities and advisory projects.
  • Oversee IT general controls (ITGC), application controls, cybersecurity and cloud controls audits; work closely with CISO and IT leadership to test, evaluate and recommend improvements to secure the environment.
  • Manage audit department budget, resource allocation and vendor relationships (audit tools, external specialists) to deliver efficient, scalable assurance services and maximize ROI of the internal audit function.
  • Ensure audit reports and communications are calibrated to different stakeholders — board, audit committee, executive team and business leaders — balancing technical detail with strategic risk messaging.
  • Promote a culture of ethical behavior, internal control ownership and continuous improvement across the business through awareness programs, workshops and advisory engagements.
  • Develop KPIs and performance metrics for the internal audit function (e.g., timely completion of plan, remediation rate, stakeholder satisfaction, cost per audit hour) and report trends to leadership.
  • Ensure compliance with applicable accounting standards (GAAP, IFRS) and industry‑specific regulatory frameworks by auditing financial reporting processes, regulatory filings and compliance programs.
  • Drive vendor and third‑party risk assessments and audits including due diligence, contract compliance testing and ongoing monitoring of critical service providers.
  • Lead change management and control environment improvements following audit recommendations; partner with process owners to redesign controls that are efficient, automated and risk‑proportionate.
  • Maintain up‑to‑date knowledge of regulatory changes, industry best practices and audit technologies; proactively adjust audit approach to address new compliance obligations and market developments.

Secondary Functions

  • Provide advisory support to business leaders on control design during new product launches, process redesigns and strategic initiatives to reduce time‑to‑market while maintaining control integrity.
  • Support ad‑hoc executive and board requests for deep‑dive analyses, special reviews, or rapid assessments of emerging risks or incidents.
  • Contribute to the development and execution of the enterprise's compliance training and ethics programs by providing audit insights and root‑cause themes.
  • Facilitate cross‑functional workshops to map key processes, identify control owners and document responsibilities to close accountability gaps.
  • Participate in crisis response teams during cybersecurity incidents, regulatory inquiries or significant operational disruptions to provide assurance, coordinate evidence and support remediation prioritization.
  • Oversee pilot projects for audit automation, continuous monitoring and robotic process automation (RPA) for control testing to increase efficiency and real‑time assurance coverage.
  • Mentor mid‑level audit staff on technical audit techniques, risk assessment methods and professional certification pathways (CIA, CPA, CISA).
  • Support enterprise data governance and data quality initiatives by testing data lineage, reconciliation controls and access rights for critical financial and operational systems.

Required Skills & Competencies

Hard Skills (Technical)

  • Risk‑based audit planning and methodology aligned with IIA standards and COSO framework.
  • Sarbanes‑Oxley (SOX) compliance and internal control over financial reporting (ICFR) testing experience.
  • Advanced audit analytics: SQL, ACL/IDEA, Python or R for data interrogation and exception testing.
  • Experience auditing ERP systems and applications (SAP, Oracle Cloud, Workday) and associated configuration controls.
  • IT audit and cybersecurity control assessment knowledge, including ITGC, application controls, cloud security and identity/access management.
  • Financial acumen: strong understanding of GAAP/IFRS, financial processes, reconciliations and financial reporting controls.
  • Familiarity with audit management platforms (TeamMate, AuditBoard, Galvanize/HighBond) and GRC tools (Archer, RSA).
  • Forensic investigation techniques, evidence preservation, interviewing and fraud detection analytics.
  • Project management and change management skills to support large transformation and remediation initiatives.
  • Regulatory and industry compliance knowledge (e.g., SOX, Dodd‑Frank, GDPR, HIPAA where applicable) and experience interacting with regulators.
  • Third‑party and vendor risk assessment methodologies, including contract compliance testing and SOC report interpretation (SOC 1/SOC 2).
  • KPI development, audit quality metrics and continuous monitoring program design.

Soft Skills

  • Executive presence and experience presenting complex findings to Audit Committees and Boards with clear, concise messaging.
  • Strong leadership and people development skills: coaching, performance management and succession planning.
  • Stakeholder management and relationship building across finance, legal, IT, operations and external auditors.
  • Strategic thinking and the ability to translate audit observations into business value and pragmatic risk mitigations.
  • Excellent written communication — ability to draft reports that are actionable, prioritized and business‑orientated.
  • Critical thinking, sound professional judgment and ability to handle sensitive/confidential matters with integrity.
  • Influencing and negotiation skills to drive remediation and secure resources for control improvements.
  • Adaptability and a continuous learning mindset to stay current with evolving risks and technology.
  • Problem solving and root cause analysis with a bias for practical, scalable solutions.
  • High ethical standards, objectivity and independence in evaluating controls and management assertions.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's degree in Accounting, Finance, Business Administration, Information Systems or related field.

Preferred Education:

  • Master's degree (MBA, MAcc, MS in Information Systems) or equivalent advanced degree; professional certifications such as CPA, CIA, CISA, CRMA or CISSP are highly desirable.

Relevant Fields of Study:

  • Accounting or Finance
  • Information Systems / Cybersecurity
  • Business Administration / Risk Management
  • Forensic Accounting / Data Analytics

Experience Requirements

Typical Experience Range: 10–20+ years of progressive internal audit, external audit, risk or compliance experience, with at least 5–8 years in senior leadership roles.

Preferred: Proven track record leading enterprise internal audit functions for a mid‑to‑large public or private company, demonstrable SOX program ownership, ERP and IT audit experience, and experience reporting to an Audit Committee or Board.

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