Thinking about internal auditing specialization or heading down the career direction of internal auditing? Internal auditing is a discipline with a long history which continues to grow as global regulatory developments which enforcement challenges continue to develop rapidly.
Internal auditors are responsible for offering assurance in all forms of business conditions including corporate governance, risk management, internal control and operation. Here, in this blog, we are going to show you why this career path of internal audit management in Australia can be a great choice for you.
A risk management consultant in Australia with up to a year of experience, the midpoint wage is AU$69225.60. In line with the Salary Guide, the compensation amounts to AU$106001.70 after one to three years of expertise and AU$130158.55 for a senior internal auditor.
The salary midpoint of a manager of an Internal Auditor is projected to amount to $116,500, with a salary of AU$267167.55 for a chief audit officer or internal audit director.
Growth-oriented Career Path
The first step is to obtain your bachelor’s degree that is necessary for any internal auditor level. Before switching to internal audit management in Australia, several people start public accounting. However, others are directly into the field and are finding that progression from an internal audit position at the entry-level may lead to management positions, such as Chief Audit Executive and CEO.
As organizations push to improve internal controls and transparency, they are also looking for internal auditors, risk management consultant in Australia and information technology (IT) auditors. Many are also willing to train to fill specific needs.
Potential jobs on this specific career path incorporate:
- Entry-level internal auditors
- Risk assessment specialists
- Audit managers
- Financial analysts
- Lead internal auditors
- Internal controls auditors
- Internal audit directors
- Risk managers
Internal auditors gain a thorough and up-to-date understanding of an organization’s processes, policies and procedures. They are able to offer companies invaluable business knowledge and insights into industry with frequent exposure to the board through management partnerships. The rest of their careers can shape this experience.
In this world of global regulatory changes and rapidly emerging technology, more and more organisations are finding out how critical internal audit management in Australia is to play. Furthermore, the business-oriented role of internal auditing provides more accounting professionals with key insights into the internal functioning of companies, with the knowledge to transfer them to other fields – and an overwhelming career path.