Internal Auditors examine, verify, evaluate, and report 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.

Skill Level

1

Alternative Titles

• Audit Officer

Unless you are exempt in very limited circumstances, you are required to have a positive Skills Assessment to apply for the visas listed above.

Skills Assessment authority for Internal Auditor is Vocational & Education Training Assessment (VETASSESS). To have a positive skills assessment, you must meet the following criteria:

• Qualification assessed at Australian Bachelor degree or higher in a highly relevant field of study AND at least one year of post-qualification highly relevant employment at an appropriate skill level in the last five years
• Applicants must meet both the qualification and employment requirements to obtain a positive skills assessment
• A highly relevant field of study include:
  • Accounting
  • Commerce/Business
• Other fields of study may be considered relevant if the employment is highly relevant and the field of study relates to the skilled employment
• Applicants nominating this occupation must provide:
  • CV/Resume
  • Organisational chart for each period of employment
• Applicants are also encourage to provide:
  • Audit plans
  • Audit charter
  • Summary of internal audit staffing profile
  • Company overview, indicating area of business and key statistics

Conduct audits of accounting systems, procedures and financial statements, manage corporate funding and financial risk, and administer and review corporate compliance activities.

Tasks

• Arranging, giving notice of and attending meetings of directors and shareholders
• Advising organisations’ governing boards on matters concerning compliance with stock exchange listing rules, relevant legislation and corporation practice
• Supervising organisations’ share capital by preparing documents and share issues, and handling share transfers
• Controlling treasury and treasury systems and establishing and reviewing risk management objectives and treasury policies
• Identifying, managing and reporting on financial risks
• Assisting with equity management, debt management, securities and taxation planning issues
• Collecting, analysing and interpreting information on the financial standing, cost structures and trading effectiveness of organisations
• Devising, re-organising and establishing budgetary cost control and other accounting systems such as computer-based systems
• Conducting audits and investigations and preparing financial statements and reports for management, shareholders, and governing and statutory bodies
• 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

Skill Level

In Australia and New Zealand:

Most occupations in this unit group have a level of skill commensurate with a bachelor’s degree or higher qualification (ANZSCO Skill Level 1). In some instances, relevant experience and/or on-the-job training may be required in addition to the formal qualification. This occupation may require registration or licensing.

Occupations in this Group

• 221211 Company Secretary
• 221212 Corporate Treasurer
• 221213 External Auditor
• 221214 Internal Auditor