What Does An Internal Controls Analyst Do?

WHAT DOES AN INTERNAL CONTROLS ANALYST DO?

Updated: Dec 05, 2025 - The Internal Controls Analyst ensures the effectiveness of the company’s internal control environment by coordinating with management and control owners to maintain accurate documentation, support COSO and SOX compliance, and oversee control changes through a structured change management process. This role involves facilitating audit activities, evaluating key processes for design and operational effectiveness, and partnering with internal and external auditors to address deficiencies and implement corrective action plans. The Analyst also provides technical guidance, conducts compliance testing, and identifies opportunities for continuous improvement in internal control frameworks.

A Review of Professional Skills and Functions for Internal Controls Analyst

1. Internal Controls Analyst Key Accountabilities

Interviewing Skills: Interview individuals in various financial and operational positions regarding day-to-day duties and SOX controls.
Control Documentation: Perform and document walkthroughs of SOX controls.
Control Testing: Perform and document SOX controls testing.
Compliance Testing: Test compliance with Company policies and procedures.
Process Improvement: Recommend process and policy improvements.
Follow-Up Management: Follow up to ensure that approved recommendations are implemented.
Audit Procedures: Complete assigned audit procedures.
Audit Reporting: Summarize and communicate audit findings.
Documentation Preparation: Prepare working paper documentation to support audit procedures performed and conclusions reached for assigned projects.
External Audit Support: Assist the external auditors.

2. Internal Controls Analyst General Responsibilities

Control Evaluation: Organize and coordinate scoping, mapping, risk assessment, and walkthrough activities to evaluate internal control quality.
Control Support: Support and challenge business and finance process owners in maintaining a robust and effective control environment.
Control Design: Ensure that controls are properly designed, implemented, and monitored across all end-to-end processes.
Control Assessment: Assess control effectiveness through detailed testing, reviews, and evaluations.
Deficiency Evaluation: Contribute to the deficiency evaluation process by assessing both the impact and likelihood of control gaps.
Remediation Review: Challenge proposed remediation plans to confirm they effectively address underlying root causes.
Compliance Preparation: Prepare interim and year-end sign-offs for internal control over financial and regulatory reporting, including SOX 404 compliance requirements.
Cross-Functional Collaboration: Collaborate with departments across the value chain to ensure consistency and alignment of control activities.
Stakeholder Communication: Maintain strong communication and coordination with group-level management and external auditors.
Advisory Support: Provide advisory support during organizational or process changes to ensure proper integration of internal controls.

3. Internal Controls Analyst Role Purpose

Internal Control Review: Perform internal control reviews to evaluate the adequacy and effectiveness of business processes.
Audit Planning: Develop and execute audit plans to test controls related to OMB A-123 compliance across key operational areas.
Control Testing: Test critical control activities to confirm that they are functioning efficiently and effectively.
Audit Reporting: Prepare detailed summary reports outlining audit findings, conclusions, and actionable recommendations.
Process Walkthroughs: Conduct business process walkthroughs to assess control design, process flow, and risk mitigation effectiveness.
Process Documentation: Document business process narratives and flowcharts accurately to ensure proper control, understanding, and traceability.
Issue Tracking: Track and report audit findings and corrective action plans across the organization for both internal and external audits.
Stakeholder Follow-Up: Follow up with stakeholders to ensure the timely resolution of identified issues and implementation of corrective measures.
Corrective Action Evaluation: Evaluate audit findings and corrective action plans to provide practical recommendations for improvement.
Audit Support: Collect, organize, and track client documentation and audit requests to support testing and verification activities.
Risk Analysis: Analyze business process internal controls to identify risks, inefficiencies, and opportunities for process enhancement.

4. Internal Controls Analyst Essential Functions

Intercompany Accounting: Generate intercompany AR and AP records in compliance with fiscal and electronic invoicing guidelines.
Invoice Accuracy: Ensure the inclusion of appropriate product and service codes within all generated invoices.
Service Compliance: Adhere strictly to established service-level agreements for timeliness and accuracy.
Collections Analysis: Analyze collection activities within the “other” portfolio to ensure proper deposit application to invoices.
Payment Coordination: Coordinate the issuance of payment complements to maintain consistency and compliance.
Financial Reporting: Prepare executive, corporate, and ad hoc financial reports in response to client and management requests.
Data Verification: Verify the completeness, reliability, and accuracy of all reported financial data.
Regulatory Reporting: Deliver information required by fiscal authorities concerning payment complement integration.
Invoice Compliance: Ensure that all electronic invoices comply with current regulatory and reporting standards.
Financial Transparency: Contribute to maintaining transparency and accountability in all intercompany financial operations.

5. Internal Controls Analyst Additional Details

Finance Compliance: Ensure that finance guidelines are consistently implemented and adhered to across all regional operations.
Control Development: Develop and update internal controls each month to strengthen working capital management and accounting processes.
Control Monitoring: Monitor the effectiveness of existing controls and identify areas requiring improvement or corrective action.
Issue Reporting: Report findings to management and ensure prompt implementation of remediation measures.
Cross-Department Communication: Maintain open and continuous communication with various departments and regional audit teams.
Language Proficiency: Use English effectively to coordinate and collaborate across multinational teams.
Team Collaboration: Support stronger collaboration between finance and operational units to enhance efficiency.
Process Innovation: Contribute innovative ideas to optimize and improve financial and control-related processes.
Audit Support: Ensure audit requests are completed accurately, with high quality, and within established timelines.
Control Guidance: Guide business functions on control design and implementation for new processes.
Continuous Improvement: Participate in continuous improvement initiatives to reduce internal control risks.

6. Internal Controls Analyst Roles

System Standardization: Promote and coordinate the standardization of application development, maintenance, and support for Supply Chain Systems across the division.
Process Alignment: Ensure that system processes are consistent and aligned with corporate standards.
Data Maintenance: Oversee the maintenance and accuracy of Supply Chain Systems master files.
Documentation Management: Maintain complete and up-to-date documentation for all master file change requests.
File Processing: Process master file additions and modifications promptly and in full compliance with established policies.
Data Verification: Verify data accuracy and integrity throughout all system updates.
Technical Guidance: Provide clear direction and technical guidance to facility Supply Chain Managers.
Issue Resolution: Support facility teams in resolving system-related issues efficiently.
User Collaboration: Foster communication and collaboration among Supply Chain system users across facilities.
Performance Monitoring: Monitor system usage and performance to identify opportunities for improvement.
Process Enhancement: Contribute to the ongoing enhancement of Supply Chain processes and data governance practices.

7. Internal Controls Analyst Tasks

Risk Assessment: Work collaboratively within a team responsible for assessing risks and conducting operational and financial audits.
Process Evaluation: Evaluate business processes to ensure compliance with internal policies and regulatory standards.
SOX Compliance: Support Sarbanes-Oxley annual compliance efforts, focusing on planning, testing, and documentation.
Issue Follow-Up: Assist with reporting and follow-up activities to verify that identified issues are properly addressed.
IT Controls: Concentrate on IT system controls to ensure they meet compliance and security requirements.
External Audit Coordination: Coordinate with external auditors to facilitate smooth and efficient audit processes.
Audit Support: Provide timely and accurate information to support external audit reviews.
Process Improvement: Identify opportunities for improving operational efficiency and promoting best practices.
Self-Assessment: Participate in control self-assessments to strengthen overall risk management.
Audit Documentation: Document audit findings and root causes, providing actionable recommendations for remediation.
Corrective Action Monitoring: Monitor corrective actions to confirm successful implementation and sustainability.
Professional Standards: Uphold professional auditing standards, the Institute of Internal Auditors’ Code of Ethics, and the company’s Code of Conduct.
Business Partnership: Partner with business units at all levels to provide value-added insights and enhance organizational performance.

8. Internal Controls Analyst Details and Accountabilities

Control Testing: Support control testing activities across multiple business units and locations in alignment with the internal controls framework.
Compliance Coordination: Perform tasks such as evidence gathering, gap analysis, remediation and mitigation coordination, and preparation of work paper documentation for submission.
SOX Consultation: Provide consultation and guidance to stakeholders on SOX compliance requirements and deliverables, offering best practice recommendations.
Risk Management: Contribute to control design, risk assessment, and control rationalization initiatives to strengthen compliance and operational processes.
Documentation Management: Develop, update, and maintain compliance documentation for all in-scope systems and supporting technologies.
Stakeholder Collaboration: Build and maintain strong, collaborative relationships with management, internal audit, and external auditors.
Process Walkthroughs: Participate in process walkthroughs to gain a thorough understanding of business operations and risks.
Process Improvement: Assist in implementing new or enhanced processes and propose recommendations to improve efficiency and control effectiveness.

9. Internal Controls Analyst Overview

Audit Oversight: Responsible for implementing, directing, and overseeing the organization’s auditing and compliance programs.
Audit Management: Conduct and manage audits and ongoing reviews of organizational controls, operating procedures, and compliance with internal policies and external regulations.
Control Evaluation: Evaluate the soundness, effectiveness, and proper application of accounting and financial control procedures, ensuring timely and accurate documentation.
Audit Reporting: Compile and issue detailed audit reports outlining conclusions, findings, and recommendations for process and control improvements.
Training Development: Recommend employee training programs and procedural modifications to strengthen compliance and operational efficiency.
External Coordination: Serve as a liaison for all external and extended audit activities to ensure effective coordination and communication.
Process Improvement: Identify, assess, and propose enhancements to improve the efficiency and effectiveness of internal processes and governance structures.
Project Support: Provide expertise and support to management on special projects.
Continuous Improvement: Maintain a focus on continuous improvement by strengthening compliance, internal controls, and operational processes to drive organizational excellence.

10. Internal Controls Analyst Job Description

Internal Control Implementation: Implement and coordinate processes to uphold the COSO framework of internal control standards.
Department Coordination: Coordinate efforts across multiple departments to ensure internal control requirements are met within established deadlines.
Deficiency Management: Identify internal control deficiencies and ensure timely completion of corrective actions.
Audit Planning: Collaborate with senior accounting leadership to plan, coordinate, and execute the company’s annual audit plan.
SOX Testing: Plan and execute multiple SOX testing phases across various in-scope locations and areas, covering both entity-level and business cycle controls.
Process Mapping: Drive the mapping of operational processes and key controls, ensuring consistent documentation and structured SOX testing execution.
Risk Assessment: Support the annual risk assessment process in collaboration with the legal department.
Testing Coordination: Perform testing activities and interact with external auditors to provide required documentation and evidence.
Audit Assistance: Assist and coordinate with external auditors during walkthroughs and testing procedures for internal control validation.
Technical Support: Provide technical assistance to functional business areas in developing, refining, and documenting internal controls and process improvements.
Testing Management: Ensure all testing phases, including planning, fieldwork, and reporting, are completed efficiently and communicated clearly.
Remediation Tracking: Evaluate control deficiencies, work with process owners to implement remediation plans, and track completion.
System Recommendations: Make recommendations for systems and procedures under review, report findings, and monitor management’s response and corrective actions.

11. Internal Controls Analyst Functions

Process Mapping: Support each business area in designing and developing detailed process maps.
Control Monitoring: Develop, implement, and manage the control monitoring process for all identified controls.
Control Assessment: Continuously monitor and update assessments of the control environment, staying informed about significant issues, trends, and developments.
Control Testing: Execute test plans and procedures to evaluate the effectiveness of internal controls.
Process Inventory: Maintain comprehensive inventories of business processes and the internal control environment.
Control Tracking: Track and report on existing controls, testing activities, and identified automated control initiatives.
Control Implementation: Ensure appropriate controls are identified, implemented, and maintained on time.
Regulatory Compliance: Understand and monitor applicable regulations and requirements impacting the business, ensuring related controls and implementation plans are in place and executed.
Business Continuity Coordination: Collaborate with Business Continuity Management to coordinate participation in BC/DR tests and maintain process and technical recovery plans.
Audit Support: Support business functions with CFPB and audit requirements related to controls, validations, process maps, and testing results.
Risk Management: Promote the company’s commitment to risk management and the protection of systems and data integrity.

12. Senior Internal Controls Analyst Accountabilities

Strategic Project Leadership: Lead strategic projects aimed at improving business processes and controls through risk assessment and design analysis.
Regulatory Implementation: Implement enhancements driven by regulatory changes and evolving compliance standards.
SOX Alignment: Ensure that Internal Audit and management testing procedures align with SOX objectives and risk scopes.
Testing Verification: Verify that all testing activities meet required documentation standards and internal control guidelines.
Control Scoping: Determine the appropriate scoping for internal control assessments based on risk and materiality.
Control Education: Educate business partners and control owners on internal control expectations and best practices.
Compliance Guidance: Guide on maintaining compliance throughout the assessment process.
External Audit Collaboration: Foster strong, collaborative relationships with External Auditors to support efficient internal control audits.
Audit Coordination: Coordinate audit planning and information sharing to streamline the overall review process.
Risk Partnership: Build partnerships with Internal Audit and other risk management professionals across the organization.
Stakeholder Communication: Ensure consistent communication and alignment among all stakeholders involved in control compliance.
Process Maintenance: Oversee the ongoing maintenance of process documentation and control matrices for existing SOX processes.
Control Development: Assist in developing and documenting internal controls for new or updated business processes.

13. Internal Controls Analyst Job Summary

Control Assessment: Identify, assess, monitor, and test key internal controls in alignment with the ICFR program requirements.
Risk Evaluation: Perform balance sheet mapping, control scoping, and inherent and residual risk assessments to ensure comprehensive coverage.
Risk Mitigation: Collaborate with functional area owners to develop value-added recommendations that effectively mitigate residual risks.
Program Design: Design and document ICFR work programs for review and approval by the Internal Controls Manager.
Reporting and Communication: Prepare and deliver reports on control assessments, providing management with updates on control performance, improvement opportunities, and remediation progress.
Training Development: Conduct periodic training sessions for team members to enhance their understanding of key controls and promote continuous improvement.
Audit Coordination: Assist in managing the external financial statement audit by coordinating activities and providing necessary documentation.
Audit Liaison: Serve as a liaison between the Internal Audit department and the Controllership function to ensure proper follow-up on audit findings and remediation efforts.
Control Adjustment: Work closely with process owners to evaluate and adjust control structures when process or system changes occur.

14. Internal Controls Analyst Responsibilities

Process Management: Support the management and development of processes, procedures, and related control documentation to ensure controls are effectively implemented and adapt to business changes.
Incident Management: Assist in the incident reporting process by addressing control issues and implementing improvements in response to identified incidents.
Control Monitoring: Provide ongoing process control monitoring, support, and guidance to ensure operational integrity.
Audit Coordination: Coordinate internal and external audits impacting supported business areas, including walkthroughs and follow-up inquiries.
EUC Compliance: Monitor End User Computing controls to ensure compliance and mitigate operational risks.
Risk Management: Contribute to the development and maintenance of risk management processes, including plans to address identified risk areas.
Control Assessment: Participate in control assessments and analyses as required by the business, supporting other control-related activities for relevant service lines.
Due Diligence Support: Support due diligence efforts for supported businesses by ensuring compliance with internal control standards.
Business Liaison: Act as a key point of contact for the business, ensuring secure and timely delivery of services.
Best Practice Promotion: Promote internal control best practices across the organization, leveraging audit findings to enhance standardization and efficiency.
Project Support: Support control-related projects by ensuring clear governance, coordination, and communication among all stakeholders.

15. Internal Controls Analyst Details

Control Framework Development: Support the development, implementation, and continuous monitoring of an internal controls framework to ensure sustainable compliance with governance requirements and business objectives.
Process Analysis: Analyze existing business processes to identify opportunities for improvement, leveraging systems such as Odoo ERP, SAP, and TME Lites to enhance operational efficiency.
Segregation of Duties: Monitor and manage segregation of duties across all relevant systems, ensuring conflicts are minimized and appropriately mitigated.
Governance Advisory: Serve as a business advisor to help implement governance requirements in a manner that supports long-term sustainability and alignment with strategic goals.
Policy Development: Contribute to the development and maintenance of company policies and procedures.
Compliance Monitoring: Monitor compliance with established policies and procedures, coordinating with internal and external stakeholders to ensure alignment with global and local requirements.
Control Matrix Management: Maintain and regularly update control matrices to ensure adherence to accounting policies and related internal control standards.
Documentation Refinement: Adjust and refine control documentation to maintain effectiveness and ensure adoption across the organization.
Internal Audit Support: Assist in conducting internal audit cycles, including risk and control management activities, to verify operational efficiency and regulatory compliance.
JSOX Execution: Execute JSOX controls, document control execution accurately, and report any control failures for timely remediation.
Audit Collaboration: Collaborate with internal and external auditors during control assessments to ensure full compliance and transparent reporting.
Change Management: Act as a change ambassador by promoting and implementing continuous improvement initiatives throughout the organization.

16. Internal Controls Analyst Duties

Control Testing: Perform control testing and implement corrective and mitigation action plans to ensure compliance with applicable laws and regulations related to internal controls over financial reporting and operations.
Control Remediation: Assess, test, and remediate internal controls in alignment with OMB A-123 and DHS requirements.
Risk Assessment: Conduct comprehensive risk assessments and support the development of risk mitigation strategies.
Reporting and Communication: Prepare detailed reports with performance metrics and supporting evidence, effectively communicating findings and recommendations to stakeholders.
Procedure Development: Develop, document, and continuously improve standard operating procedures and checklists to support financial operations.
Corrective Action Design: Design and implement corrective actions to address material weaknesses, significant deficiencies, and other control failures through thorough root cause analysis.
Automation Implementation: Utilize automation tools to standardize and strengthen controls, creating efficiencies, repeatability, and enhanced auditability for risk-based decision-making.
Management Collaboration: Collaborate closely with management to ensure a clear understanding of job responsibilities and alignment with specific contract and task order requirements.

17. Internal Controls Analyst Roles and Details

Control Design: Assist management in designing and improving internal controls and business processes.
Process Documentation: Meet with process owners to gain a clear understanding of assigned processes and document or update process design and walkthrough materials.
SOX Management: Execute the full SOX program lifecycle, including walkthroughs, design assessments, operating effectiveness testing, remediation, deficiency evaluation, and final reporting for assigned significant processes.
Remediation Coordination: Lead and coordinate remediation efforts for design, operating effectiveness, or documentation deficiencies identified during testing.
Audit Collaboration: Build and maintain strong working relationships with internal management, as well as internal and external auditors.
SEC Reporting: Assist in preparing SEC quarterly and annual filings, along with other public financial disclosures such as press releases, using SEC filing software.
Regulatory Reporting: Coordinate and prepare external financial data required for regulatory and compliance reporting.
Financial Schedules: Develop and update supporting schedules used in the preparation of financial statements.
Cross-Functional Collaboration: Collaborate with cross-functional teams to gather, consolidate, and analyze financial information efficiently.
Management Reporting: Work closely with the FP&A team to address internal management reporting requirements.
Special Projects: Perform special projects and other assigned duties to support financial and compliance objectives.

18. Internal Controls Analyst Responsibilities and Key Tasks

Control Documentation: Coordinate with management and control owners to maintain and update all internal controls and related documentation, including narratives, flowcharts, walkthroughs, and COSO compliance materials.
Change Management: Ensure management properly initiates and oversees control changes, including additions, deletions, and modifications, through an established change management process.
Deficiency Evaluation: Provide technical interpretation and draft responses to control deficiencies, collaborating with management and Internal Audit to evaluate and rate deficiencies (D, SD, MW) and develop action plans to address audit findings.
SOX Coordination: Facilitate and coordinate SOX testing activities, serving as the liaison between the Internal Audit and External Audit teams.
Control Evaluation: Evaluate the internal control environment by assessing the design, effectiveness, and adequacy of key processes through walkthroughs and compliance testing.
Risk and Control Management: Maintain the enterprise-wide process, risk, and controls matrix to ensure consistency and accuracy across all functions.
Remediation Oversight: Collaborate with business process owners to ensure exceptions identified during SOX testing are remediated and re-tested promptly.
Action Plan Development: Assist process owners in developing corrective action plans, performing root cause analyses, and remediating control gaps efficiently.
Standards Monitoring: Stay current with accounting and auditing standards, as well as industry and technology trends, to identify opportunities for continuous improvement.
Audit Coordination: Coordinate deliverables with internal and external auditors to ensure audit functions are optimized and aligned.
Training and Guidance: Support process owners by providing training, reviewing control documentation, and offering expert guidance on control design and operation.

19. Internal Controls Analyst Duties and Roles

Risk Assessment: Assist the Director of Internal Control in performing ongoing risk assessment reviews to identify key business and operational risks.
SOX Testing: Conduct SOX control testing in accordance with established compliance standards.
Internal Audit Execution: Execute internal audit projects covering operational, financial, compliance, and IT areas as outlined in the Internal Audit Plan, including special reviews.
Audit Planning: Support the Director of Internal Audit in defining audit scope, developing risk and control matrices, and executing detailed audit procedures.
Process Documentation: Document and map IT, information security, operational, and financial processes using SOX-based narratives and flowcharts to identify key risks and control activities.
Control Gap Analysis: Identify and communicate control gaps and process improvement opportunities to management, assisting in the design and implementation of corrective actions.
Control Evaluation: Assess key control points and weaknesses within audited systems or functions, and recommend practical solutions to improve efficiency and reduce risk.
Audit Documentation: Prepare comprehensive audit documentation and workpapers in compliance with generally accepted auditing standards.
Stakeholder Collaboration: Maintain strong relationships with process owners by understanding their needs and supporting effective collaboration.
Confidentiality Compliance: Stay updated on business developments relevant to audit areas and ensure confidential information is properly safeguarded.

20. Internal Controls Analyst Roles and Responsibilities

Control Verification: Verify that segregation of duties and dual controls are effectively implemented across the organization.
Progress Reporting: Provide progress updates to the Director of Internal Control, comparing completed audit activities against approved plans.
Governance Promotion: Promote a strong culture of internal control and corporate governance throughout the organization.
Professional Development: Participate in professional development activities and training programs related to internal audit and risk management.
Team Mentorship: Mentor and guide staff-level auditors by offering continuous coaching, direction, and feedback.
Audit Supervision: Supervise junior team members to ensure audit work is completed accurately and complies with the Institute of Internal Auditors (IIA) standards.
Policy Review: Review internal policies and procedures to confirm they are clear, comprehensive, and compliant with internal control and regulatory requirements.
Training Support: Assist the Director of Internal Audit in training new team members to build departmental capability.
Process Improvement: Contribute to enhancing audit efficiency through continuous process improvement and knowledge sharing.
Special Projects: Assist with special projects and initiatives related to internal control enhancement and compliance improvement.

Relevant Information

What Does An Internal Controls Manager Do?