Risk and Assurance - Level 4

Help provide independent assurance to senior managers that their risk management, governance and systems of control are working effectively.

Apprenticeship Standard Internal Audit Practitioner

How long: 18-24 months  

Where: London (there may be some hybrid working involved depending on the placement)

Salary: £22,915 

What qualifications will I gain: Internal Audit Practitioner designation 

What you'll need

  • You must hold or be working toward a minimum of 2 GCSE's Grade 4 (C) and above including Maths and English language plus 2 A-Levels in any subject at grade A*-D or equivalent
  • You must be 18 years old by 11 September 2023 to be eligible for this scheme
  • You are not eligible for this scheme if you currently hold or are working towards a qualification at the same or higher level in a related subject or have already studied content from the qualification for this scheme

Your offer will be subject to a satisfactory medical, which may include (but is not limited to) drugs and alcohol screening, eye test and hearing test. 

Job overview 

An apprenticeship in internal audit is the first step to a career in internal audit. It will provide you with structured training, skills, and knowledge and the opportunity to gain the Internal Audit Practitioner Designation. The role of internal audit is to provide independent assurance to senior managers that their risk management, governance, systems of control and processes are working effectively.   

You will be joining a forward-thinking internal audit team that will support and encourage you through your placement. The team is led by the Head of Internal Audit, supported by a team of Senior Audit Managers and internal auditors. We work across the whole of TfL. This provides opportunities to engage with people across a wide range of business areas in this large and complex organisation. 

What you'll be doing

You will be teamed up with one of our internal auditors who will be your line manager. They will take you through the various stages of internal audit work. From there you will complete specific tasks under their supervision. This will include planning, fieldwork, testing and producing the internal audit report. As your placement continues you will be looking to complete audit assignments with limited supervision.     

Our aim is to equip you with the range of skills and experience you need for a successful career in Internal Audit. We also understand that everyone's career and ambitions are different, so every apprentice's journey with us is unique. 

Here's an idea of what you could be doing: 

  • Research the activities being audited by spending time with the area of the organisation being. audited; walking through how they operate a task/process; and reviewing policy, processes and standards related to the activity being audited 
  • Be involved in data gathering, analysis and interpretation through face-to-face, email and other forms of data-gathering practises used in an organisation 
  • Document the business process and control environment through process mapping, e.g. flowcharting, and validating the process  
  • Identify and evaluate the associated governance, risks, and controls through mapping what you find against governance policy set out in an organisation
  • Review the documented internal risk process including any documented management controls in place as set out by the business 
  • Perform tests and analysis to evaluate the effectiveness of controls (i.e. do the controls protect the organisation against potential risks, as identified by the organisation, management, or internal control functions)
  • Identify risks, vulnerabilities, and exposures 
  • Report in a structured format the results of their audit work to audit management. 

Where this career can take you 

Upon successful completion of this scheme, you will achieve the Internal Audit Practitioner designation.  

Following this you could go onto the level 7 apprenticeship, which includes the full Chartered Internal Auditor (CIA) certification, which leads directly to Chartered membership of the institute (CMIIA).