Internal Auditor Career Guide UK: Qualifications, Salary and Progression

What Is an Internal Auditor?

An internal auditor works within an organisation to independently assess the effectiveness of its risk management, internal controls, and governance processes. Unlike external auditors who sign off statutory accounts, internal auditors are employees reporting typically to the Audit Committee.

Internal Audit vs External Audit

External audit focuses on whether financial statements present a true and fair view. Internal audit focuses on whether internal controls, processes, and risk management are working effectively. External audit gives financial reporting experience; internal audit gives broad exposure to how a business operates across every function.

Key Responsibilities

Planning and executing audit engagements, risk assessment, reviewing financial controls and IT systems, identifying control weaknesses, preparing audit reports, presenting findings to management, following up on remediation, and supporting regulatory inspections.

Qualifications

The CIA (Certified Internal Auditor) from the IIA is the globally recognised specialist qualification. ACCA, ACA, or CIMA are also widely held by internal auditors. The CIIA offers PIIA and CMIIA designations for UK professionals.

Internal Auditor Salary UK

Junior internal auditors: 28,000-38,000 GBP. Mid-level with 2-4 years: 40,000-55,000 GBP. Senior auditors and audit managers: 55,000-75,000 GBP. Heads of Internal Audit: 80,000-130,000 GBP. Financial services pays a premium.

FAQ

Is ACCA useful for internal audit?

Yes - ACCA provides strong foundations in financial reporting, risk, and controls directly applicable to internal audit. Many internal auditors study ACCA and then optionally add the CIA designation.

Further Reading

• ACCA at Learnsignal
• CPD for Accountants
• ACCA Complete Guide

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