Top 20 Interview Questions & Answers for Assistant Manager Internal Audit – 2025

Preparing for an assistant manager internal audit job interview? This guide provides a list of essential questions and answers that will help you showcase your knowledge, experience, and skills required for this role. Whether you’re applying for a position in a financial institution, government agency, or consulting firm, these questions cover all key areas of internal auditing.

General Questions

• 1. What sparked your interest in internal auditing and how did you get started in this field?
  Answer: I have always been detail-oriented and interested in analyzing processes to identify potential risks. During my college years, I took a course on auditing and realized it was the perfect fit for my skill set. Ever since then, I have been working towards a career in internal auditing, starting as an intern in a financial firm and then advancing to my current role as an assistant manager.
  
  
• 2. What do you consider to be the most important qualities of a successful internal auditor?
  Answer: I believe a successful internal auditor should possess excellent analytical and critical thinking skills, have a strong attention to detail, be able to adapt to changing situations, and possess excellent verbal and written communication skills. Additionally, a successful auditor should also have a strong ethical foundation, maintain objectivity, and be able to work independently and as part of a team.
  
  
• 3. How do you stay up-to-date with the latest industry regulations and standards?
  Answer: I make it a priority to regularly attend seminars, workshops, and conferences related to internal auditing. I also participate in online training and utilize professional networks to stay informed about changes in regulations, standards, and best practices. Additionally, I am a member of several industry organizations that provide updates and resources for auditors.
  
  
• 4. Can you provide an example of a challenging situation you faced during an audit and how you resolved it?
  Answer: During a recent audit of a company's financial statements, we discovered discrepancies in their inventory records. The management team was adamant that the data provided was accurate, but we were able to identify several irregularities that pointed towards potential fraud. To resolve this, I consulted with our team and conducted additional investigations, ultimately discovering evidence of fraudulent activities. We reported the findings to senior management, which led to the appropriate disciplinary actions being taken.
  
  
• 5. How do you prioritize and manage your workload when handling multiple audits simultaneously?
  Answer: I prioritize my workload by considering the level of risk and impact on the organization. I also communicate with my team and delegate tasks according to each team member's strengths and workload. I use project management tools and techniques, such as creating timelines and setting deadlines, to manage and monitor the progress of each audit. I also make sure to constantly communicate with stakeholders and update them on the progress of each audit.

Experience & Technical Knowledge

• 6. What is your experience with auditing financial statements and what do you look for during this process?
  Answer: I have experience with auditing both internal and external financial statements. When reviewing financial statements, I look for any material misstatements, errors, or inconsistencies. I also examine the accuracy of financial information and ensure compliance with applicable accounting standards and regulatory requirements.
  
  
• 7. Have you implemented any process improvement initiatives in your current or past roles? If so, can you provide an example?
  Answer: Yes, I have implemented several process improvement initiatives in my current and past roles. In my current role, I noticed that our team was spending a significant amount of time manually pulling data from various sources for our audits. I proposed and implemented the use of data analytics software, which significantly reduced the time and effort required for data analysis. This has improved the efficiency of our team and provided more accurate and comprehensive results.
  
  
• 8. How do you approach risk assessment in an audit and what factors do you consider?
  Answer: I use a risk-based approach to audit planning, where I consider the organization's industry, regulatory requirements, and internal control environment. I also communicate with key stakeholders, review previous audit findings, and conduct research on industry and company-specific risks. Additionally, I collaborate with my team to identify potential risks and design appropriate audit procedures to address them.
  
  
• 9. Are you familiar with the latest auditing standards and regulations? If so, please provide an example of a recent update.
  Answer: Yes, I regularly review auditing standards and regulations to ensure I stay up-to-date. A recent update that I am familiar with is the revised International Standards on Auditing (ISA) 315, which changed the approach to risk assessment and requires auditors to obtain a better understanding of the entity and its environment. This update has improved the quality and effectiveness of audits.
  
  
• 10. What techniques do you use to test the effectiveness of internal controls?
  Answer: I use both substantive and compliance testing techniques to evaluate the effectiveness of internal controls. Substantive testing involves testing the accuracy and completeness of financial transactions, while compliance testing involves testing the adherence to established procedures and policies. I also use walkthroughs and perform observations to gain a better understanding of the control environment and identify any potential weaknesses.

Behavioral Questions

• 11. Can you provide an example of a time when you had to handle a difficult team member during an audit? How did you handle the situation?
  Answer: During an audit, one of my team members was not meeting their deadlines and had a negative attitude towards their assigned tasks. I scheduled a one-on-one meeting with them, where I took the time to listen to their concerns and address any issues. I also provided additional support and resources to help them complete their tasks effectively. As a result, the team member's attitude improved, and they were able to meet their deadlines successfully.
  
  
• 12. How have you handled a situation where you had to present unfavorable findings to upper management?
  Answer: During a previous audit, we discovered major deficiencies in the organization's internal controls and potential fraud. Presenting this information to upper management was a sensitive situation, as it involved addressing issues with individuals within the organization. I made sure to present the findings in a professional and objective manner, providing evidence to support our conclusions. I also worked with management to identify solutions and recommendations to address the issues and improve controls.
  
  
• 13. How do you handle conflicting priorities and tight deadlines?
  Answer: In my experience, effective communication is key in these situations. I make sure to communicate with stakeholders and my team to manage expectations and prioritize tasks accordingly. I also use time management techniques, such as creating task lists and prioritizing urgent tasks, to complete my work efficiently and meet deadlines. In addition, I collaborate with my team to delegate tasks and support each other as needed.
  
  
• 14. Tell me about a time when you had to make a difficult decision during an audit. How did you handle it?
  Answer: A few years ago, during an audit, we discovered evidence of potential fraudulent activities. As the lead auditor, I had to make a difficult decision on whether to escalate the issue to senior management immediately or conduct further investigations before taking action. I consulted with my team and sought guidance from our legal department before making a decision. We ultimately decided to conduct further investigations before reporting the findings to senior management, which resulted in the appropriate actions being taken.
  
  
• 15. What do you do to maintain your objectivity and independence during an audit?
  Answer: I maintain my objectivity and independence by following the established auditing standards and requirements. I also ensure to disclose any potential conflicts of interest before accepting an audit engagement and remain transparent throughout the process. Additionally, I strive to maintain a professional and ethical mindset at all times and seek guidance and support from my colleagues and supervisors when needed.

Cultural Fit Questions

• 16. How do you handle confidential information during an audit?
  Answer: I adhere to all confidentiality standards and policies set by the organization. I have experience handling sensitive and confidential information and make sure to restrict access to relevant team members only. I also maintain confidentiality in my communication with stakeholders and do not disclose any findings or information without the appropriate authorization.
  
  
• 17. How do you handle challenging situations with team members or clients?
  Answer: I believe in maintaining a professional and respectful attitude during challenging situations. I make sure to listen to all perspectives and try to understand the root cause of the issue before addressing it. I also strive to maintain open and honest communication throughout the process and work towards finding a mutually beneficial solution.
  
  
• 18. How do you ensure excellent client service during an audit?
  Answer: I make sure to establish clear communication with my clients from the beginning, setting expectations and providing updates on the progress of the audit. I also make sure to understand the client's needs and adjust our audit procedures accordingly. Additionally, I strive to deliver high-quality work and provide solutions and recommendations to help the client improve their internal controls and processes.
  
  
• 19. How do you handle conflicts of interest between the organization and your role as an internal auditor?
  Answer: I am committed to maintaining independence and objectivity in my role as an internal auditor. If a conflict of interest arises, I make sure to disclose it to the appropriate parties and seek guidance on how to handle the situation. I also adhere to the code of ethics and professional standards set by the Institute of Internal Auditors (IIA) and other regulatory bodies.
  
  
• 20. What do you know about our company's mission and values, and how do they align with your own?
  Answer: I have done extensive research on the company's mission and values, and I am impressed with the commitment to integrity, accountability, and excellence. These values align with my own personal values and are integral to my approach to professional work. I am excited about the opportunity to contribute to and uphold these values within the organization.