Career as an Internal Auditor in India: Role, Eligibility and How to Begin

Banking & Financial Services

Updated

At a glance

An internal auditor independently checks a company's or bank's processes, controls and records to flag risks, errors and fraud and suggest fixes. Many enter via a commerce degree, CA or CMA.

An internal auditor independently reviews a company's or bank's processes, internal controls and records to find risks, errors and fraud, and recommends fixes to management. The role is usually a salaried, in-house position in banks and companies, and it sits alongside external audit practice, where chartered accountants audit client firms for a fee.

Commerce graduates and CA or CMA aspirants often compare two routes. In-house internal audit lets you build deep knowledge of one organisation's operations and controls. Practice roles in audit and advisory firms expose you to many clients and sectors, but workloads can be heavy during audit season. Many professionals move between the two over their careers.

This page covers what the job involves, the education path, the CA and CMA options, key skills and the career outlook. Pay, course details and exam dates change over time, so check official sources before making decisions.

Minimum Qualification
Graduation (commerce preferred)
Typical Degree
B.Com or BBA; CA or CMA for senior roles
Expected Entry Salary
To be verified before publishing
Entry-level to Senior
To be verified before publishing
Job Demand Growth
Steady; banks hiring audit staff in 2026
Work Hours
Typically office hours; busier at audit close
Places of Work
Banks, NBFCs, listed companies, audit firms

What Does an Internal Auditor Do?

Day-to-Day Responsibilities

  • Plan an audit calendar based on risk, covering branches, departments or business units.

  • Review processes such as lending, payments, procurement and payroll against internal policies and regulations.

  • Test internal controls by sampling transactions and checking approvals, documents and system access.

  • Analyse ledgers and data to spot unusual patterns, duplicate payments or control gaps.

  • Discuss findings with business managers and agree practical fixes and timelines.

  • Write audit reports for management and the audit committee, and track whether issues are closed.

  • Keep up with regulatory changes, such as RBI guidelines for banks or company law requirements for other firms.

Where They Work

Banks are among the largest employers of internal auditors in India. Public sector banks, private banks, small finance banks and NBFCs run internal audit departments, and many also appoint concurrent auditors who check transactions in branches on an ongoing basis. Recent notices show this demand: SBI advertised concurrent auditor posts in May 2026 for 821 vacancies, according to press reports, and IndusInd Bank appointed a new internal audit head in January 2026, months after an accounting discrepancy row.

Outside banking, listed companies, manufacturing and services groups, insurance companies and large public sector units have in-house internal audit teams. Audit and advisory firms also offer internal audit services to clients, which is the practice route. Compare the two options on pay, hours, sector exposure and growth before you choose.

How to Become an Internal Auditor in India?

After Class 12

Commerce is the most direct stream, with accountancy, business studies and economics helpful for later study. Arts and Science students can still enter through a commerce-type degree and a CA or CMA course, but should check each institute's rules first.

Undergraduate

Complete a B.Com, B.Com (Hons) or BBA. Many students begin CA or CMA foundation preparation during this period, and some take internships in banks or audit firms.

Professional Qualification

Qualify as a chartered accountant through ICAI or a cost and management accountant through ICMAI. Both need exams and practical training. Some professionals later add the Certified Internal Auditor (CIA) credential from the Institute of Internal Auditors.

Articleship or Practical Training

CA students complete an articleship, a period of practical training with a practising firm, which is governed by ICAI rules and may include a stipend. CMA students complete practical training during their course. Confirm current rules directly with the institute.

First Job

Start as an internal audit trainee, junior auditor or concurrent auditor in a bank, NBFC or company. Build experience in controls testing, working papers, report writing and basic data analysis.

Specialisation and Experience

After a few years, move into a senior auditor role or specialise in areas such as bank audit, IT audit, forensic audit or risk advisory. An MBA in finance is an option for those who want to move into management.

You might also
want to explore.

Cost Accountant

Banking & Financial Services

Company Secretary

Legal, Governance & Regulatory

Compliance Officer

Legal, Governance & Regulatory

Enterprise Risk Manager

InsurTech & Actuarial Science

Cost Accountant

Banking & Financial Services

Company Secretary

Legal, Governance & Regulatory

Compliance Officer

Legal, Governance & Regulatory

Enterprise Risk Manager

InsurTech & Actuarial Science

Cost Accountant

Banking & Financial Services

Company Secretary

Legal, Governance & Regulatory

Compliance Officer

Legal, Governance & Regulatory

Enterprise Risk Manager

InsurTech & Actuarial Science

Cost Accountant

Banking & Financial Services

Company Secretary

Legal, Governance & Regulatory

Compliance Officer

Legal, Governance & Regulatory

Enterprise Risk Manager

InsurTech & Actuarial Science

Eligibility and Subjects Required

Stream and Subject Requirements

  • Commerce is the most direct stream, with accountancy, business studies and economics useful for later study.

  • Arts and Science students can qualify for commerce degrees and can take CA or CMA courses. Check each institute's eligibility rules before enrolling.

  • For CA, the foundation course needs a Class 12 pass as per ICAI rules. Confirm the current norms on the official website.

Minimum Qualification

  • A graduation degree (B.Com, BBA or equivalent) is the usual minimum for bank and company internal audit roles.

  • CA or CMA is often preferred for senior and specialist roles, and CA is required to sign statutory audit reports in practice.

  • Typical minimum marks in Class 12 and graduation vary by employer and institute. Check current ICAI, ICMAI and university norms before applying.

Courses and Degrees for Internal Auditor

  • Undergraduate Degrees
    • B.Com (3 years)
    • B.Com (Hons) (3 years)
    • BBA (3 years)
    Postgraduate Degrees
    • M.Com (2 years)
    • MBA in Finance (2 years)
    Diplomas
    • PG Diploma in Banking and Finance (about 1 year)
    • Diploma in Accounting and Taxation (about 1 year)
    Professional Certifications & Short-term Courses
    • Chartered Accountant (CA), ICAI (around 4 to 5 years including articleship)
    • Cost and Management Accountant (CMA), ICMAI (around 3 to 4 years)
    • Certified Internal Auditor (CIA), Institute of Internal Auditors (exam-based, self-study)
    • Excel and data analytics for audit (short course, a few months)

Entrance Exams for Internal Auditor

  • Exam
    CA Foundation
    Level
    Foundation (entry level)
    Held
    Multiple sittings a year; check the ICAI calendar
    For Course
    Chartered Accountancy (CA)
  • Exam
    CMA Foundation
    Level
    Foundation (entry level)
    Held
    Multiple sittings a year; check the ICMAI calendar
    For Course
    Cost and Management Accounting (CMA)

Skills Required to Become an Internal Auditor

Technical Skills

  • Accounting and financial statement analysis
  • Internal controls and risk assessment
  • Audit sampling and testing methods
  • Excel and data analysis (pivot tables, basic Power BI)
  • Companies Act 2013 and audit rules
  • Banking regulations and RBI guidelines
  • Audit reporting and working papers

Soft Skills

  • Professional scepticism and integrity
  • Clear written and verbal communication
  • Attention to detail
  • Tact when challenging managers
  • Time management across several audits
  • Confidentiality and ethical conduct

Internal Auditor Salary in India

0 to 2 years

Entry Level

To be verified (see editor notes)

  • Typical job titles: Internal Audit Trainee, Junior Auditor, Concurrent Auditor
  • Work: testing sample transactions, preparing working papers and supporting senior auditors on branch or department audits

3 to 7 years

Mid Level

To be verified (see editor notes)

  • Typical job titles: Internal Auditor, Senior Internal Auditor, Audit Officer
  • Work: leading audit assignments, reviewing controls and presenting findings to business heads

8+ years

Senior Level

To be verified (see editor notes)

  • Typical job titles: Head of Internal Audit, Audit Manager, Chief Internal Auditor
  • Work: setting the annual audit plan, reporting to the audit committee and managing audit teams

Career Opportunities and Job Roles

Internal Audit Trainee

Entry role in a bank or company where you learn audit testing, documentation and reporting.

Concurrent Auditor

Checks bank branch transactions on an ongoing basis; often recruited through public sector bank notifications.

Internal Auditor

Plans and carries out audits of processes, controls and compliance across departments.

Information Systems Auditor

Reviews IT systems, access controls and cyber risks for the organisation.

Risk Advisory Consultant

Helps clients design controls and risk frameworks while working in an audit or advisory firm.

Head of Internal Audit

Leads the audit function and reports to the board or audit committee.

Scope and Future of Internal Auditor in India

Demand for internal auditors tends to follow the growth of banks, NBFCs, insurance companies and listed firms, along with higher governance expectations. Bank recruitment in 2026 points the same way: SBI's concurrent auditor notification for 821 vacancies, reported in May 2026, and IndusInd Bank's appointment of a new internal audit head in January 2026 both show banks investing in audit capacity. The Companies Act 2013 also sets out audit and internal audit requirements for certain companies, which supports in-house audit roles.

Growth is likely in areas that combine accounting with data and technology: IT and cyber audit, fraud analytics, ESG and sustainability reporting, and controls over digital lending. Auditors who can use data tools alongside accounting knowledge have a wider range of options. Public sector bodies also recruit for audit roles, and press coverage of internal audit findings in public institutions in October 2026 shows why this work matters.

Indian chartered accountants and finance professionals also work abroad, including in Dubai, as press features on their careers show. Overseas options depend on local licensing, work visas and recognition of Indian qualifications, so check the rules of the country you are considering before you plan.

Is Internal Auditor
the Right Career for You?

Internal Auditor can be an exciting career, but the right choice depends on more than academic eligibility.

Interests

What excites you?

Aptitude

What are you good at?

Personality

How do you work?

Work Preferences

What kind of environment suits you?

Discover careers that match your interests, strengths and preferences.

See how well this career fits you

Related Careers

More careers in Banking & Financial Services that students read about.

Cybersecurity Analyst

Cybersecurity Analyst

Cybersecurity & Defense Systems

Wealth Manager

Wealth Manager

Banking & Financial Services

Claims Adjuster

Claims Adjuster

InsurTech & Actuarial Science

Quantitative Analyst

Quantitative Analyst

Banking & Financial Services

Chartered Accountant

Chartered Accountant

Banking & Financial Services

Data Scientist

Data Scientist

Information Technology & Software

Internal Auditor: Frequently Asked Questions

What is the difference between an internal auditor and an external auditor?

An internal auditor works for the organisation and reports to its management and audit committee, with the aim of improving controls, efficiency and risk management. An external auditor is independent of the company and gives an opinion on whether its financial statements are true and fair, mainly for shareholders and regulators. The same chartered accountant may do either job, but the reporting line and purpose differ.

Can a B.Com graduate become an internal auditor without CA or CMA?

Yes. Many banks and companies hire commerce graduates as trainee or junior internal auditors, and some also hire MBA graduates with finance backgrounds. Growth to senior roles is usually faster with a professional qualification such as CA, CMA or CIA. Eligibility differs by employer, so check each job advertisement carefully.

Is CA necessary to become an internal auditor?

No, CA is not strictly necessary for most in-house internal audit roles. However, CA is valued for senior and specialist positions and is required to sign statutory audit reports in practice. CMA and the CIA certification are also recognised routes. Choose based on your interest: CA suits those who want a broad assurance and practice base, while CMA suits those drawn to cost and management work.

What is concurrent audit in banks?

Concurrent audit is a continuous check of transactions as they happen, usually carried out in bank branches or large offices. It differs from internal audit, which periodically reviews processes, controls and departments. Public sector banks recruit concurrent auditors through separate notifications, such as SBI's 2026 recruitment for 821 posts reported in the press. Eligibility is set in each notification.

Is internal audit a good career in India?

It can be, if you enjoy analysing processes, working with data and explaining problems clearly. Demand comes from banks, NBFCs and listed companies, and the role gives strong exposure to how organisations run. Pay, hours and progression vary widely by employer and qualification. Talk to people in the role and compare offers carefully before you decide.

Which certification is best for internal auditors?

There is no single best option. The Certified Internal Auditor (CIA) credential from the Institute of Internal Auditors is designed specifically for internal audit. CA suits those who want a broad accounting and assurance base, and CMA suits those interested in cost, management and financial planning. Many professionals combine a degree or CA or CMA with an internal audit certification later in their career.

Book a Free Counselling Session to Know Your Perfect Career Fit!