Internal Auditor

SRGO Occupational Information SheetINTERNAL AUDITOR (ANZSCO Code: 221214) 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. 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. Internal Auditor (ANZSCO: 221214) May 2015 © VETASSESS Page | 1 *This includes qualifications assessed at AQF Bachelor. Internal Auditor (ANZSCO: 221214) May 2015 © VETASSESS Page | 2 . Qualification AQF Bachelor or higher* Applicants must hold a highly relevant qualification. post-qualification employment. in a field highly relevant to the nominated occupation. Business Process and Systems. or if the employment has been completed prior to the qualification. at an appropriate skill level completed in the last five years If the qualification(s) are not at the required educational level. Master and Doctoral level qualifications. Business Law. then the applicant will be assessed below the required skill level. Business Management. Highly relevant fields of study include:  Accounting   Applied Corporate Governance Commerce / Business The courses should cover the key areas of Risk Analysis. Applicants must also have at least one year of highly relevant. and not in a highly relevant field of study.SRGO Occupational Information Sheet INTERNAL AUDITOR (ANZSCO Code: 221214) 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*. Organisational Methods and Structures. activities.SRGO Occupational Information Sheet INTERNAL AUDITOR (ANZSCO Code: 221214) Employment Tasks include  evaluating the cost effectiveness and risks of operational processes. 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 (ANZSCO: 221214) May 2015 © VETASSESS Page | 3 . policies and systems  reporting to management on the existence and effectiveness of the system of internal controls  establishing audit objectives.