Top 25
Internal Audit Manager Interview Questions
1. How will you add value to our company?
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Internal Audit Manager
February 27th, 2014

Internal auditing is a profession and activity involved in helping organizations achieve their stated objectives. It does this by using a systematic methodology for analyzing business processes, procedures and activities with the goal of highlighting organizational problems and recommending solutions. Professionals called internal auditors are employed by organizations to perform the internal auditing activity.
wikipedia.org/wiki/Internal_audit
Internal Audit Manager Interview Questions
2 of 32
Why do you enjoy auditing?
 
User Submitted Interview Answers
1.
For it let me gain different experiences that help me improve my skills personally and professionaly at the same time learning new things.
 
2.
I have always been intrested in doing activies that involve analysing.
 
3.
It's a proven way to establish facts and identify ways to improve. It's a helpful objective exercise that can help people and businesses see things from another (outside) perspective. If one is looking to have confidence in the way a business operates getting checked using an independent partner is a helpful exercise. I enjoy giving feedback and identifying helpful, business improving ideas.
 
4.
Oversee successful completion of the audit.
 
5.
I enjoy auditing because its one of the main branches of accounting that really enhances the standards.
 
Question
3 of 32
Tell me about an inefficiency you detected during an audit.
 
User Submitted Interview Answers
1.
Lack of documentation with signature and very comfortable with each other forgetting to obey with the rules.
 
2.
I have learnt that communicating effectively plays a very important role in audit. My articleship gave me a opportunity to work on it.
 
3.
There was no approval required for entering a credit note in system.
 
4.
Access reviews were not being done on time.
 
5.
I discovered that the provision on sub standard debt was not fully provided for and remittance of witholdig tax was not done as at when due.
 
Question
4 of 32
Tell me about your most significant career accomplishment.
 
User Submitted Interview Answers
1.
Giving the management solution that will either lessen or iradicate cost or expense on their part.
 
2.
Yes. During special audit of an organization we have detected few frauds made by accounts manager and accounts assistance. One is taking same bill two times by giving photocopy of bill and another one is copy of signature of MD in cheque.
 
3.
During my articleship I was praised by my principal auditor on preparing a presentation.
 
4.
Reduction of fraud and irrelevant costs in an organisation.
 
5.
Having successfully implemented a working system.
 
Question
5 of 32
Have you ever discovered fraud in an audit?
 
User Submitted Interview Answers
1.
We had "Speak Up" which was a business integrity model that was anonymous and findings were shared within the audit team for investigation. Often these investigations were given to people who had capacity or who volunteered. Since due to my role being throughout most of the business units, I investigated a number of perceived fraud incidents. One of them related to preferential claims by a particular contractor who had "business interests" in another contracting company that won a vast array of work for the maintenance of the London Office building, through a historical trend analysis and data analytics we were able to pinpoint the invoices and conclude on this. In addition, we had a tip off via another audit that there were traffic congestions in one of the largest iron ore mines in the world yet there were plans being rushed through Investco to purchase more heavy mining equipment. The auditors were able to point this out to management who agreed and placed the plan further down the capex pipeline and put some conditions in place to ensure that until those conditions are met, no further expenditure would be passed.
 
2.
We discover fraud in audit through effective planning. When planning for audit engagement auditor should consider possibility of fraud.
 
3.
Yes, I have deducted a fraud in my recent assignment.
 
4.
Yes I have. I have to act in a very diplomatic manner and also I have to involve my manager.
 
5.
In a company, the expenses of the sister concern was booked in the companies name and few expenses which were just for the name sake without any proper explanations like professional expenses, later it was found to be the act of management for reducing profit.
 
Question
6 of 32
In your current position, how are inspection reports posted and communicated? Do you agree with the process?
 
User Submitted Interview Answers
1.
Through mail and hard copy is send by hand.
 
2.
Through a comprehensive hard copy of the final audit report.
 
3.
A team of professional go through the organisation and its work and communicate any difficulty in the manner in which organisation is being run to the board in their report.
 
4.
With Giving description of the working done by the branch.
 
5.
Well whenever we conduct inspection, we sometimes do it announced and other time it comes unannounced. It all depends on the audit objective of the procedure we are conducting. However, inspection results are communicated to the clients through an exception report. We call the attention of the clients discuss with the exceptions noted and agree with a solution to address the exceptions.
 
Question
7 of 32
What improvements would you make as the audit manager, if you were awarded this position?
 
User Submitted Interview Answers
1.
I will ask my collegues and team mates for all of the problems and possible solutions we can make to come with a great solution and make sure there's open communication.
 
2.
I dont intend to make any improvements as yet. I wish to blend into the system and study how it functions. If there are any shortfalls that is where I will recommend for remedial action.
 
3.
For repeated violations of the branch, an action for deseating the manager would be suggested.
 
4.
I would make sure, improvements in terms of conglomerate thinking which makes conclusion even better.
 
5.
Well having previously developed a scoreboard for my previous audit team, I guess reviewing the teams scoreboard as well as the individual targets and workload of the team would be one of the significant improvement I can contribute. This is in order to continuously motivate the team to perform well and meet the team’s and individual’s target.
 
Question
8 of 32
Why do you feel you are a good fit for our company?
 
User Submitted Interview Answers
1.
Having a job with adequate internal controls, giving reasonable assurance of eliminating risks for security, order, and offers an environment for success. With too many internal controls, work can be hindered and without proper internal controls in place there can be a lack of order and the ability to accomplish the mission of the company.
 
2.
I have the determination. On getting my feet to this door of oportunity and I am willing enough to give all my focus and attention to prove that the company gain an asset.
 
3.
Because I have the experience and education on that field.
 
4.
My educational background and work experience makes a suitable candidate.
 
5.
I am a a goal driven individual and confident about what I do best professionaly and this is a trait this organisation posses as such we are a match made in heaven so to speak.
 
Question
9 of 32
Tell me about what areas you audited in your last job.
 
User Submitted Interview Answers
1.
Internal control review including role and effectiveness of senior management, evaluation of Human resources policies and practices, assess the role and effectiveness of the audit committee and other committees audit risk management c, Revenue cycle, receivables, Expenditure cycle, payroll cycle.
 
2.
During articleship, statutory audits, internal audits, stock audits, tax audits for companies, firms and individuals.
 
3.
Lending and bank operations.
 
4.
Western Union Money Transfer, Forex, Branch closure and Full & Final settlement of the person after his/her regisnation, Appointment of new staff by interviewing.
 
5.
At my last job, it was important for me to review all the payable and to make sure they had all the proper documentation when paid. I also helped HR audit the payroll deductions against there corresponding payable.
 
Question
10 of 32
Why do you feel internal auditors have an important role in our company?
 
User Submitted Interview Answers
1.
To enable accountability and efficient work progress.
 
2.
Fraud is the foresighted thing.But yes to check the process are in place or not internal audit is important.Its a human tendency once people spend considerable time in the process they get little lenient which at times leads to mistakes errors and of course if the processes are not being managed properly fraud might happen subsequently.
 
3.
To reduce risks, decreasing loss, and maximize profits.
 
4.
For they serve as a translator because they help the management understand the company's standing in all aspects and help detect the problems in the earliest time by their audit report.
 
5.
To analyse operations, recommend controls, assess risks and review compliance.
 
Question
11 of 32
As a manager, what skills do you possess that help you excel at your job?
 
User Submitted Interview Answers
1.
Most important thing I delegation.If I am delegating something I should be confident that my subordinate should be able to deliver results.Key is delegation.
 
2.
Manager skill, observer skill and know the process of the financial Hand book.
 
3.
I am a planner, an organizer, and leader who sets a good example. I am an analyzer and have the ability to identify risks, and I know the benefits of stewardship and accountability.
 
4.
Focus, patience, keen and easy to approach.
 
5.
Believe in team work, attitude to learn new things, constant updater, positive approach, hard working.
 
Question
12 of 32
While attending post-secondary, what was your best and favorite subject?
 
User Submitted Interview Answers
1.
I am very conscientious about my job and how it effects the company I work for. I Suggested accountability for timeliness of work performed and concern for a person doing a job they are unqualified for, due to finding a tremendous amount of errors causing financial risks, however no loss has taken place because of corrections I have made.
 
2.
It was fun, hectic, learning and gaining.
 
3.
Audit of a private company, including area of sales audit etc.
 
4.
Audited quite a few companies through verification of compliance requirements, statutory concerns based on standards as notified by ICAI and also been a part of Government project.
 
5.
Yeah it was interesting to audit diverse business activities of the organization.
 
Question
13 of 32
If you had an under performing auditor, what would you say to him or her, to help boost their performance?
 
User Submitted Interview Answers
1.
I would want him to see the impact of his unperformance and what it is doing to the company.
 
2.
That I know they can be better than that and there's a reason why they are here in this company for they're one of the assets a company can proudly have.
 
3.
I will keep encouraging them in each and every aspect of their performance and give them motivation to enhance their performance by making them refer standards and inculcate positive attributes within them so that they gain confidence that the company is actually growing because of their contribution towards work.
 
4.
First I will try to find if he is having any issues at the workplace.He can be Overburdened or might be in poor time management.I would try to find the issue then will ask him to improve.
 
5.
Firstly help him in knowling the reason for his underperformance, and help him/her in cover and improve performance.
 
Question
14 of 32
In your opinion, what qualities make a great leader?
 
User Submitted Interview Answers
1.
Good communicator, listener and team leader.
 
2.
Integrity and understanding people is the most essential values to me to be a great leader.
 
3.
Effective Delegation.Identifying potential in the candidates.. Most importantly bringing the best out of the person and deliver effective results.
 
4.
Better Management skill, Leadership skilll, Gud Listener & Have the abililty to provide opportuinties to his juniors.
 
5.
Patience, ability to understand the situation, motivator, positive attitudes, ever charming and energy inculcating person.
 
Question
15 of 32
How do you manage a healthy work/life balance?
 
User Submitted Interview Answers
1.
Do not mix the two by caring issues of one life to the other.
 
2.
You can have the two at the same time but priotizes my work.
 
3.
I am a very discipline person. During the week we concentrate in our jobs, at home we have someone who helps us to do some jobs so we do not need to stress to much. There are a couple of jobs that we do between my husband and myself. We normally leave the weekends to socialise with friends and spend time with our daughter.
 
4.
I organise myself to give each a fair chance it diserve.
 
5.
Hard but have to manage it anyway.
 
Question
16 of 32
What is your leadership style? Are you able to take on a leadership role over others who were once your peers?
 
User Submitted Interview Answers
1.
- Try to treat subordinates including friends fairly.
 
2.
Creating an environment that we can still interact while creating boarders of responsibilities.
 
3.
Boss when it comes to work but still friend outside and treat the as the same as my other work mates.
 
4.
Friendly attitude, team work, encouraging them since we are all of one team and towards one single goal.
 
5.
Setting boundaries between work and outside relationships.
 
Question
17 of 32
What do you find most challenging when performing an internal audit?
 
User Submitted Interview Answers
1.
- Lack of cooperation from auditee.
 
2.
To be friendly and nice while doing your work.
 
3.
Talking like an expert in order for you to sell your results.
 
4.
In an organisation, errors are about to happen intentionally or un intentionally. Intentional errors are frauds which is very tough to identify when people collude to make it very secretively since audit is persuasive and not conclusive.
 
5.
Not everyone is open to investigation of there area and are not always open to hear constructive criticism..
 
Question
18 of 32
What do you enjoy most about being an auditor?
 
User Submitted Interview Answers
1.
- Auditee agreed to my findings and recommendations and started to take actions to implement audit recommendations.
 
2.
Always being on your toes in regards to the the emerging audit risks.
 
3.
The fact that you engage people on different levels and that you get to be position to help in ensuring that an organisation thrives.
 
4.
Its good to make sure the company goes on with cautious efforts with out frauds which is malicious for the growth of the company.
 
5.
Feel happy when can advise and train.
 
Question
19 of 32
How long have you been an auditor? What has prepared you for the manager role?
 
User Submitted Interview Answers
1.
- 20 years including 10 years in the management role.
 
2.
7 years. The experience in handling a team and directly reporting to the management and executives.
 
3.
Fresher just being a final student and have a article-ship experience of 3 years. Professional skepticism.
 
4.
I am an auditor since past 6 years.I have handled work allocation, back up allocation since 4 years now.I have mentored the team guided them to improve gave their feedback to my manager .And have been continuously giving feedback to the team on how to improve on work and professional ethics.
 
5.
I have been an auditor for 7 years. Internal audit is the field where we can learn new work. There is always scope for innovation.
 
Question
20 of 32
Have you ever had an employee act unprofessionally towards you? How did you react?
 
User Submitted Interview Answers
1.
- Explain the importance of providing documents in a timely manner.
 
2.
Yes, give the employee the time frame and later find out why the attitude.
 
3.
Yes. I can still handle him/her professionally.
 
4.
Yes many times. I was passionate to get my required details from them and after getting I worked closely on their issues.
 
5.
Always courteous and unbiased.
 
Question
21 of 32
Have you ever been offered a bribe at any of your previous positions? What did you do?
 
User Submitted Interview Answers
1.
No I have not been offered a bribe. I have always been very straight and objective in handling audit matters. Management once indicated that they want me to train their staff in audit matters and accounting and they would pay my allowances. I indicated to them that this would not be possible unless the event is handled by the Institute of Public Accountants where I subscribe and I would be a facilitator, but under the institute.
 
2.
Yes. Many time . But I am happy to reject it. I can earn more by more hardworking but not illegal way.
 
3.
Luckily I haven't experienced such. However, I don't tolerate bribery since it one of the most important things that an auditor should maintain is its integrity.
 
4.
Have good integrity reputation thus none offered bribe.
 
5.
Yes once. I refused and started to investigate the process related to the person who offered me bribe and found variations in stock finally terminated him.
 
Question
22 of 32
Tell me about your management experience. Do you enjoy being a leader?
 
User Submitted Interview Answers
1.
I have experience to lead a group of team in finance and accounts division.
 
2.
I have managed small teams of four people as an Auditor, progressed to manage seven people as a Senior Auditor and twenty people as a Principal Auditor managing a Branch office.The aspects of management involved supervising work by staff, appraising them, providing guidance on audits, including developing audit work plans and audit Planning Memoranda, audit programs, tests of control, guidance on risk based audits and scheduling of audits and general management of resources for the branch ensuring adequacy, planning logistics and ensuring proper usage. I have also done general management of staff to ensure they are well motivated and perform to their full potential, while coordinating all activities with top management at the Head office.
 
3.
- 10 years in the audit management in public and government entities.
 
4.
Leading a team of 5 members.
 
5.
Diverse experience from general banking to manager level work.
 
Question
23 of 32
How do you remain focused during a day filled with number crunching and paying acute attention?
 
User Submitted Interview Answers
1.
- It is part of the functions for the profession that I choose.
 
2.
Because it is where usually errors came from.
 
3.
Number crunching allows one reach the right decisions through analysis and taking on the best options according to cost benefit analysis. Number crunching also allows one determine the right costs and also provides assurance that Value for money is being attained in terms cost and economy as well as efficiency and effectiveness. I like paying attention to details as it enables one take the best possible alternative given the various decision available.
 
4.
I dont like the structured life even in my career. I like discovering new things and learning from those exercise.
 
5.
Iam interested in nuances and a perfectionist. Unless something is perfectly correct, I would not get that level of satisfaction.
 
Question
24 of 32
In your most recent performance evaluation what positive feedback did your Supervisor have for you? Did they recommend any areas for improvement?
 
User Submitted Interview Answers
1.
This is my first interview. Hope I get a positive rating after this interview.
 
2.
I was given rank 2.Out of 3.Received good feedback.But couldnt outperform the rank 1 holder.
 
3.
I was rated average. But I am trying to improve myself.
 
4.
High but would prefer others to do it.
 
5.
HR department of the company give me rating of excellent performance.
 
Question
25 of 32
What would you change about an auditors role, if you could?
 
User Submitted Interview Answers
1.
I would make the reports and avoid providing specific recommendations and leave management through their own brain storming process to identify the next course of action to address the anomaly pointed out.
 
2.
I would change the recommendations monitoring audit. I mean, we are thought that once the client have already accepted your recommendation, then they own the risks associated with that. As such, it would be better if instead of the auditor monitoring the implementation of the recommendations, it should be part of the client's performance assessment, accomplishments and scoreboard, the timely implementation of the recommendations.
 
3.
As of now all the duties and responsibilities are perfect but need more power to access production and sales.
 
4.
I wish the auditors had time to resume the roles and company dynamics each time an audit occured.
 
5.
For successful quality work.
 
Question
26 of 32
Tell me about your accounting education.
 
User Submitted Interview Answers
1.
- MBA in Accounting - MS in IT Auditing.
 
2.
I am a fellow of the Institute of Financial Accountants(Incorporated Financial Accountant) I am A Chartered Public Finance Accountant(CPFA) and I have a Msc Accounting and Finance. I am a memebr of the various accounting bodies including CPA(U), Fellow of the Institute of Public Accountants of Australia, Fellow of the Association of International Accountants where I get continued professional development. I am also a forensic Accountant, being a CFE, and I also hold a bachelor of commerce degree in Finance.
 
3.
Banged 199 in schooling and got exemption in intermediate. Would you like to test me regarding it?
 
4.
I have a bachelors degree in accounting.
 
5.
I recently registered to study for m Institute of Internal Auditors Diploma.
 
Question
27 of 32
Would you consider yourself to be a trustworthy person?
 
User Submitted Interview Answers
1.
I believe that, if don, t have any control and you can you can use company res resources by your own purpose but as you are honest one and not doing such thing. This is honesty and best quality.
 
2.
I dont mixed my personal interest with my work and my integrity if far more important than anything.
 
3.
Self confidence and objectivity, honesty, integrity, professional competence, Accountability and transparency.
 
4.
Honest, conscience, I can easily be bugged by my conscience as such I remain to be trustworthy in order to avoid sleepless nights due to guilt.
 
5.
Can not claim qualities but my work.
 
Question
28 of 32
What accounting software are you familiar with?
 
Question
29 of 32
Are you skilled in creating flowcharts, presentations and reports?
 
Question
30 of 32
Do you have your CPA designation? If not, do you plan on obtaining it?
 
Question
31 of 32
Are you clear and detailed when it comes to documentation? How important is accurate documentation to you?
 
Question
32 of 32
How strong are your analytical skills?
 
Contributing Author
Rachelle Enns
Recruiter & Freelance Writer

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