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

Tasks:

  • Arrange for, giving notice of and attend meetings of directors and shareholders.
  • Supervise organizations’ share capital by preparing documents and share issues and handle share transfers.
  • Control treasury and treasury systems, establish and review risk management objectives and treasury policies.
  • Identify, manage and report financial risks.
  • Assist with equity management, debt management, securities and taxation planning issues.
  • Collect, analyse and interpret information on the financial standards, cost structures and trading effectiveness of organizations.
  • Devise, re-organize and establish budgetary cost control and other accounting systems such as computer-based systems.
  • Conduct audits and investigations, prepare financial statements and reports for management, shareholders, governing and statutory bodies.
  • Evaluate the cost effectiveness and risks of operational processes, activities, policies and systems.
  • Report to management on the existence and effectiveness of the system of internal controls.
  • Establish audit objectives, design and implement audit methodologies, processes and audit report criteria.

Job Prospects

  • Data on Job Outlook are updated on a yearly basis and are compiled from national statistics which may not reflect either on regional variations or more recent changes in employment conditions.
  • Employment for Auditors and Company Secretaries in 2016-17 is expected to grow strongly. Employment in this medium sized occupation (17 800 in November 2011) increased moderately in the past five years and in the long-term (ten years).
  • Auditors and Company Secretaries have a high proportion of full-time jobs (93.4%). For Auditors and Company Secretaries working full-time, average weekly hours are 40.7 (compared to 41.3 for all occupations) and earnings are above average . Unemployment for Auditors and Company Secretaries is average.
  • Auditors and Company Secretaries are employed across several industries including: Professional, Scientific and Technical Services; Public Administration and Safety; Financial and Insurance Services; Health Care and Social Assistance.
  • The (internet) vacancy level for Auditors and Company Secretaries is moderate. Annually, 10.3% of Auditors and Company Secretaries leave this group, creating potential job openings (this compares with 14.2% across all occupations).
  • The mix of industries employing Auditors and Company Secretaries is favourable for employment growth prospects.

Pay Scale

The pay scale of an internal auditor ranges between AUD$44,842 – AUD$102,459 and the median being a AUD$69,443.