internal auditor

SRGO Occupational Information Sheet

INTERNAL AUDITOR (ANZSCO Code: 221214)

Internal Auditor (ANZSCO: 221214) May 2015 © VETASSESS

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Job description An Internal Auditor examines, verifies, evaluates and reports on financial, operational and managerial processes, systems and outcomes to ensure financial and operational integrity and compliance, and assists in business process reviews, risk assessments, developing deliverables and reporting progress against outcomes.

Alternative Titles

Audit Officer

Occupations not considered by VETASSESS under this ANZSCO code

External Auditor

Accountant

Manager

Quality Assurance Manager

ICT Quality Assurance Engineer

Internal Auditors are highly skilled and experienced professionals who may come from a variety of

backgrounds. Applicants who do not have an accounting or business background would be expected

to have undertaken further study and qualifications in the area of Auditing.

When undertaking audits, they need to be able to evaluate risks to the business and what is being

done to manage that risk effectively. Accountants also perform financial auditing tasks which are

distinct from the audit tasks of an Internal Auditor. An Internal Auditor works independently of the area

or organisation being audited and the scope of audit includes review of the management system,

human resources, work processes etc., besides the financial systems.

Applicants with an internal auditing role as well as other responsibilities within the organisation would

need to demonstrate that their primary role is that of the Internal Auditor. Applicants should include

detailed position descriptions and organisational structures which demonstrate the scope and level of

responsibilities as an Internal Auditor. Information such as a company overview is also useful to

provide the assessor with a clear picture of the nature of the business and their need for an Internal

Auditor role.

The reference letter from employers should include detail of the audit tasks undertaken. In particular,

details such as the specific areas being audited, how often these are audited and the scope of the

audits conducted, as well as who the applicant reports to, the nature of the reports they present, how

often this is undertaken.

The following Information Sheet is for your reference only and should be used as a guide to assist with your Skills Assessment application to VETASSESS. This information is subject to change.

Please note that a Skills Assessment of the qualification involves assessment of both the

qualification level and content. Qualifications are assessed according to the guidelines

published by the Australian Government Department of Education and Training.

The employment assessment involves determining the skill level and relevance of the tasks

undertaken. Integrity checks may be conducted to verify the qualification and employment

claims made in an application.




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Requirements for VETASSESS Skills Assessment

This occupation requires a qualification which is assessed as comparable to the educational

level of an Australian Qualifications Framework (AQF) Bachelor or higher*, in a field highly

relevant to the nominated occupation.

Applicants must also have at least one year of highly relevant, post-qualification employment,

at an appropriate skill level completed in the last five years

If the qualification(s) are not at the required educational level, and not in a highly relevant field

of study, or if the employment has been completed prior to the qualification, then the applicant

will be assessed below the required skill level.

*This includes qualifications assessed at AQF Bachelor, Master and Doctoral level qualifications.

Qualification

AQF Bachelor or higher*

Applicants must hold a highly relevant qualification.

Highly relevant fields of study include:

Accounting

Applied Corporate Governance

Commerce / Business

The courses should cover the key areas of Risk Analysis, Business Law, Organisational

Methods and Structures, Business Management, Business Process and Systems.




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Employment

Tasks include

evaluating the cost effectiveness and risks of operational processes,

activities, policies and systems

reporting to management on the existence and effectiveness of the

system of internal controls

establishing audit objectives, and designing and implementing audit

methodologies, processes and audit report criteria

Additional tasks

identifying and applying relevant professional standards and regulatory

requirements

discussing reports with other auditors and issues reports

recommending performance or control improvements

internal auditor

Documents