Key Responsibilities and Required Skills for Corporate Auditor

🎯 Role Definition

The Corporate Auditor is a mission-critical internal control and assurance professional responsible for planning and executing independent audits across the enterprise to evaluate the effectiveness of financial reporting, operational processes, regulatory compliance, and enterprise risk management. This role delivers objective assurance and pragmatic recommendations to senior management and the audit committee, drives continuous improvement in internal controls (including SOX 404/302 programs), and leverages data analytics and ERP systems (SAP/Oracle) to enable efficient, value-add auditing and fraud detection.

Core focus areas: internal audit planning and execution, SOX compliance and testing, controls design and remediation, risk assessment and mitigation, financial and operational audits, fraud detection and investigations, ERP/IT controls, and using data analytics for continuous auditing.

📈 Career Progression

Typical Career Path

Entry Point From:

Staff Accountant or General Ledger Accountant with exposure to audit processes and controls.
External Audit Associate at a public accounting firm (Big Four or regional firm) transitioning to internal audit.
Risk & Compliance Analyst or Financial Analyst with process improvement experience.

Advancement To:

Senior Corporate Auditor → Audit Manager → Senior Audit Manager
Director of Internal Audit → Head of Internal Audit / Chief Audit Executive (CAE)

Lateral Moves:

Risk Manager (Enterprise Risk Management)
SOX/Compliance Manager or Financial Controls Manager

Core Responsibilities

Primary Functions

Lead end-to-end audit engagements across finance, operations, IT, and compliance functions, including scoping, risk assessment, audit planning, fieldwork, controls testing, documentation, issue reporting, and monitoring remediation until closure. Ensure audit work is performed in accordance with professional standards (IIA, PCAOB where applicable) and company policies.
Develop and maintain annual audit plans by performing continuous risk assessments, engaging senior stakeholders to prioritize high-risk areas, and aligning audit coverage to strategic, operational, financial, and compliance objectives of the enterprise.
Design, execute, and document SOX 404 and SOX 302 testing programs: identify key controls, test design and operating effectiveness, evaluate deficiencies, prepare supporting workpapers, and coordinate remediation activities with control owners and external auditors.
Perform in-depth financial statement and account balance testing, including substantive procedures and analytical review, to validate accuracy of reported results and identify anomalies or misstatements that require management attention.
Evaluate the design and operating effectiveness of internal controls over financial reporting, operational processes, and IT general controls (ITGC), recommending robust remediation plans, control enhancements, or process redesign to strengthen the control environment.
Execute IT and application control audits for enterprise systems (SAP, Oracle, Workday, NetSuite), including access controls, segregation of duties (SoD) analysis, change management, system configuration, and interfaces to mitigate IT-related risks.
Use data analytics tools (ACL/IDEA, SQL, Python, Power BI, Tableau, Excel advanced functions) to perform continuous auditing, trend analysis, journal entry testing, duplicate payments detection, and root-cause analysis to identify outliers and potential fraud.
Conduct operational audits that assess efficiency, effectiveness, and economy of business processes—identify cost savings, process bottlenecks, and opportunities for automation or controls rationalization.
Lead fraud risk assessments and participate in investigations when red flags arise, coordinating with legal, HR, and external counsel as appropriate; document findings and support disciplinary or recovery actions in adherence with internal policies.
Prepare clear, concise, and actionable audit reports for management and the Audit Committee, including executive summaries, risk rankings, management responses, remediation timelines, and follow-up plans to ensure accountability and timely remediation.
Partner with external auditors, regulators, and consultants during annual audits, compliance reviews, or regulatory examinations; provide requested documentation, explain audit conclusions, and facilitate resolution of auditor inquiries.
Monitor remediation progress for audit findings and control deficiencies; maintain issue tracking dashboards, perform follow-up testing, and escalate persistent or high-impact issues to senior leadership and the audit committee.
Provide advisory services to business process owners, including control design, policy development, process standardization, and pre-implementation control reviews for new business initiatives, systems, or regulatory changes.
Develop and deliver training sessions and workshops on internal controls, SOX requirements, fraud awareness, and best practices to business units and control owners to build control awareness and ownership across the organization.
Maintain and improve audit methodologies, templates, and workpaper standards, incorporating industry best practices, data-driven auditing techniques, and technology-enabled tools to increase audit efficiency and effectiveness.
Coordinate cross-functional risk and compliance activities, such as enterprise risk management (ERM) initiatives, regulatory reporting, anti-money laundering (AML) controls, and contract compliance reviews, to ensure alignment and minimize risk silos.
Execute compliance testing against regulatory frameworks, statutes, and industry-specific requirements (e.g., HIPAA, GDPR, FCPA) and evaluate the organization’s adherence to legal and regulatory obligations.
Conduct vendor, third-party, and outsourcing control reviews including SOC reports review (SOC 1/SOC 2), vendor risk assessment, and contract governance to ensure third-party risk is identified and mitigated.
Drive process improvement and cost optimization recommendations post-audit; work closely with process owners to implement lean controls, automation, or system enhancements that reduce manual work and strengthen the control framework.
Mentor and coach junior auditors and cross-functional colleagues, providing technical guidance on audit procedures, control testing, documentation standards, and career development within the internal audit function.
Stay current with accounting standards (GAAP, IFRS), regulatory developments, and internal audit trends; integrate emerging risks (cybersecurity, data privacy, ESG/climate risks) into audit planning and execution to maintain relevance and strategic value.
Contribute to the development and implementation of continuous monitoring and continuous auditing programs using scripts, scheduled analytics, and dashboards that provide real-time insights to key stakeholders.

Secondary Functions

Support ad-hoc data requests and exploratory data analysis to assist management and business units with control self-assessments, investigations, and performance improvement projects.
Contribute to the organization's audit technology strategy and roadmap, evaluating audit management software, analytics platforms, and automation opportunities to improve coverage and efficiency.
Collaborate with finance, IT, legal, and operations to translate risk and control requirements into pragmatic remediation plans and process changes; champion cross-functional collaboration to embed controls into day-to-day activities.
Participate in sprint planning and agile ceremonies when audits intersect with IT development lifecycles or ERP implementations to ensure controls are considered throughout delivery.
Assist with periodic compliance certifications, internal policy updates, and drafting of control-related documentation (process maps, control matrices, SOPs) to maintain a robust control library.
Represent internal audit on cross-functional working groups (system implementations, process redesigns, regulatory response teams) to provide independent perspective and control-focused recommendations.

Required Skills & Competencies

Hard Skills (Technical)

Internal Audit Methodologies: Audit planning, risk-based auditing, scoping, workpaper documentation, sampling techniques, and audit reporting consistent with IIA and professional standards.
SOX Compliance & Controls Testing: Practical experience with SOX 404/302 programs, control design, walkthroughs, testing, deficiency classification, and remediation oversight.
Financial Reporting & Accounting Standards: Strong grounding in GAAP and familiarity with IFRS and their impact on accounting processes and disclosures.
ERP & Systems Knowledge: Hands-on experience auditing SAP, Oracle, Workday, NetSuite, or similar ERPs, including configuration, integrations, and SoD analysis.
Data Analytics & Continuous Auditing: Proficiency with ACL/IDEA, SQL, Power BI/Tableau, Excel (pivot tables, Power Query), and basic scripting (Python/R) to analyze large datasets and automate controls testing.
IT General Controls (ITGC) & Application Controls: Understanding of access management, change management, backup/recovery, system interfaces, and configuration controls.
Fraud Detection & Investigations: Ability to identify fraud indicators, conduct interviews, support evidence collection, and document investigative findings.
Regulatory & Compliance Knowledge: Familiarity with relevant laws and industry regulations (e.g., FCPA, GDPR, HIPAA) and experience performing compliance audits.
Audit Management Tools: Experience with audit management platforms (TeamMate, AuditBoard, Galvanize/HighBond) and issue-tracking systems.
Reporting & Presentation Tools: Strong capability in preparing executive-level reports, dashboards, and presentations using PowerPoint and visualization tools.

Soft Skills

Strong written and verbal communication for clear audit reports, stakeholder briefings, and board-level presentations.
Critical thinking and analytical mindset to synthesize complex financial and operational data into actionable insights.
High integrity, objectivity, and professional skepticism in evaluating controls, processes, and management assertions.
Stakeholder management and influencing skills to gain cooperation from control owners and drive remediation.
Time management and project management skills to manage multiple audits simultaneously and meet deadlines.
Attention to detail combined with the ability to see the big picture and connect control issues to organizational risk.
Collaboration and teamwork across finance, IT, operations, legal, and external partners.
Adaptability and continuous learning orientation to stay current with regulatory changes, technology, and audit practices.
Problem-solving orientation with a focus on pragmatic, business-aligned recommendations.
Coaching and mentoring skills to develop junior auditors and promote a strong internal control culture.

Education & Experience

Educational Background

Minimum Education:

Bachelor’s degree in Accounting, Finance, Information Systems, Business Administration, or a related field.

Preferred Education:

Master’s degree in Accounting, Finance, MBA, or advanced degree in Information Systems or Risk Management.
Professional certifications such as CPA, CIA, CISA, CFE, or CRMA are highly desirable.

Relevant Fields of Study:

Accounting
Finance
Information Systems
Business Administration
Risk Management / Internal Audit

Experience Requirements

Typical Experience Range: 3–8 years of progressive experience in internal audit, external audit (Big Four/regional firm), risk & compliance, or financial control roles.

Preferred:

5+ years of corporate/internal audit experience with hands-on SOX testing, ERP audits, and data analytics.
Demonstrated experience in cross-functional audits, vendor/third-party reviews, and presenting to senior management or audit committees.