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Internal Auditors are financial specialists who are responsible for ensuring that financial systems and processes conform to internal and external accounting and reporting conventions and regulations. Internal Auditors will also prepare their company's financial records for auditing by an independent and objective external auditor.
Internal Auditors are often responsible for best practice with the aim of ensuring that all (financial) reporting is clear and accurate. They will often work in all parts of a business inspecting systems and processes and suggesting improvements and efficiencies.
Typical duties include:
Establishing best practice in financial record keeping and reporting.
Reviewing systems and processes and suggesting then implementing improvements in order to minimise risk.
Assessing the success or otherwise of system/process improvements.
Establishing robust controls and providing the necessary supporting documentation.
Planning and managing audits.
Evaluating audit results and providing commentary for senior managers.
Working closely with external auditors.
Qualifications
Many Internal Auditors are part or fully qualified accountants. The Institute of Internal Auditors (IIA) also offers training and qualifications for Internal Auditors.
Salary snapshot
Recent salaries advertised on TopFinancialJobs (December 2009) include:
£45-50,000 per annum for an Internal Audit Manager working for a high profile organisation in North Hampshire.
£55,000 per annum for a qualified (ACA) Internal Auditor working for a FTSE 100 advisor in London.
£40-45,000 per annum for a qualified (ACA, ACCA, CIMA) Internal Auditor working for a globally renowned FMCG company in West London.
£50-60,000 per annum for a qualified Senior Internal Auditor working for a boutique financial services firm in London.
Are you an Internal Auditor? Would you like to contribute to our "Day in the Life of..." series? Email us at info@topfinancialjobs.co.uk for more details.
