Director of Internal Audit in Detroit, MI

Director of Internal Audit Job Description

A director of internal audits need advanced experience with financial and accounting applications, financial and operational controls, and with GAAP, Sarbanes-Oxley and COSO framework requirements. Professionals should have strong critical thinking, communication and technology skills. Candidates generally must have at least seven years’ experience in auditing, including in public accounting and industry. Firms seek individuals who possess a bachelor’s degree in accounting or finance, along with an MBA, and certifications such as a CIA or CPA. Travel is often required for this position. Depending on the organization, the title for this position also could be chief audit executive or vice president of internal audit.

Typical director of internal audit duties:

Identifying, understanding and documenting processes and procedures surrounding internal controls

Monitoring and updating on a continual basis the assessment of the control environment, keeping abreast of significant control issues, trends and developments

Identifying and assessing the implementation of new controls as necessary

Developing test plans and coordinating the performance of management testing of internal controls required by Sarbanes-Oxley

Preparing and updating a comprehensive risk-based audit plan for evaluating the effectiveness of controls in place to manage significant risk exposures, ensure the integrity and reliability of information and financial reporting, safeguard company assets, and comply with laws and regulations

Identifying and designing anti-fraud criteria and controls

Monitoring and auditing the company’s compliance with established internal controls

Establishing procedures and plans for conducting internal control audits

Reporting findings to senior management and the company’s audit committee

Coordinating activities with external auditors to support their audit and review procedures

Hiring, training and retaining internal audit staff

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Salary for Director of Internal Audit in Detroit, MI

141500 - 228500

25th percentile

141500

The candidate is new to the role and building the needed skills, experience and autonomy.

50th percentile

199000

The candidate has the experience to perform core responsibilities without direct supervision and is comfortable with the role’s processes and subject matter.

75th percentile

228500

The candidate delivers value beyond the stated job duties, has advanced qualifications and experience, and is ready for the next career level.

Projected salaries for related positions

Position title

25th percentile

50th percentile

75th percentile

Manager of Internal Audit – Corporate Accounting

110500

131750

157750

Senior Internal Auditor – Corporate Accounting

86000

103250

121750

Internal Auditor, 1-3 Years’ Experience – Corporate Accounting

67750

84750

98750

Entry-Level Internal Auditor – Corporate Accounting

50750

63000

70750

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