Roles of an Internal Auditor

An internal auditor carries out independent appraisal of the on-going activities of a company, its processes and the risk factors that could affect the business. As an internal auditor one has several tasks to deal with.

Internal Audit Services

The basic job role of an internal auditor includes the following aspects

• Risk Management – The internal audit career demands the professional to help businesses identify and recognize risks. He or she is expected to conduct research and understand the trends of the market and identify likely areas of emerging risk.
• Identifying Fraud and Malpractice- Investigations conducted by the internal auditors aim to reveal fraudulent actions and malpractice within the organization.
• Saving the business from Worst Case scenarios – Emergency planning, crisis management and preventing catastrophic information losses are a part of internal audit services.
• Making Sure Controls are in Place- Whether it is signing off cheques to make payments or paying taxes, it is the duty of the auditor to keep the controls in place.
• Setting Future Strategy- One of the most important qualities of an internal auditor jobs is to suggest future strategies for the company based on best practice and areas that they feel can be improved upon.

Internal Audit Career

Internal audit holds excellent career opportunities for successful candidates. These opportunities range from jobs in financial companies, retail industry, public sectors and risk management sectors. No matter where you live or wish to work. Internal audit jobs are available in many industries across the globe.

 

Petition for Internal Audit Jobs Still Increasing

As reported in Accountancy Magazine, investment banks, asset management companies and government agencies are all hiring newly qualified graduates in huge numbers, thanks to a shortage of qualified applicants for audit jobs. A recent survey carried out by the  Association of Graduate Recruiters revealed that the demand for internal audit positions is at its highest since 1995, and risk management jobs are also scrambling to find qualified candidates.

Over the last ten years this has been the best time for finding jobs in internal audit. The shortage of qualified graduate auditors and the increase in internal audit vacancies have combined to generate a wide open arena for newly qualified accountants. In addition , due to shortage of candidates absorbed in audit jobs, audit recruitment company and employers are posing with the higher salaries and bonuses over the last ten years. 

As per premier accountancy recruitment company Morgan McKinley, the average annual bonus for auditors in all locations was around 5%  until last year, whilst for the newly trained in audit jobs, that destined a holiday bonus of up to 15% of their annual salary. While there are many reason for the upturn in salaries and vacancies in audit jobs .