Internal Audit
Key Points:
- An internal auditor provides expert advice, support and recommendations to management and staff for promoting the economical and efficient use of resources, while improving financial and non-financial processes and controls.
- The responsibilities of the role include examining an organisation’s risk management, control and governance processes.
- A survey CA ANZ conducted in 2018, indicated that the average total remuneration in the audit industry with between 1-4 years’ experience in Australia and New Zealand is $103,432*.
Internal auditors are specialised accounting professionals who provide organisations with guidance on financial accuracy, internal controls and regulatory compliance.
Internal auditing ensures good governance of a business' financial and operational activities in order to achieve organisational objectives, goals and priorities.
An internal auditor's primary responsibility is to perform risk management and strengthen internal controls.
It is crucial for internal auditors to continually develop their knowledge regarding regulations, best practices, tools, techniques and performance standards to ensure validity, legality and organisational success.
"I enjoy working as an internal auditor because I get to use my creativity and knowledge to provide new and innovative solutions for addressing critical business risks. I have the privilege of interacting with interesting professionals across the organisation, some of whom have gone onto become my mentors and friends."
Why internal audit could be the right fit for you
Internal auditors are responsible for monitoring and providing organisations with assurance that their assets have been properly secured and safeguarded from risk.
Internal auditors require a high attention to detail and strong analytical skills to help organisations accomplish their objectives by evaluating and improving risk management, control and governance activities.
If you are a critical thinker with personal integrity, who has a keen interest in identifying risks and contributing to value added solutions, a role as an internal auditor could be right for you.
Who can you work for?
Internal auditors work across a variety of industries as an employee of an organisation.
Key skills:
- Data mining and analytics
- Keen eye for detail
- Proactivity
- Problem solving
- Interpersonal skills
- Communication
- Ability to work with a range of stakeholders
*These figures are taken from the 2017 Chartered Accountants ANZ Remuneration survey results of 120 members for the following positions: Audit manager, Audit Senior, Audit, Internal Audit Manager and Internal Auditor, with 1-4 years' experience in Australia and New Zealand.