Chief Internal Auditor Salary
The average pay for a Chief Internal Auditor is $97,345 per year. Most people in this job have more than five years' experience in related jobs.
Job Description for Chief Internal Auditor
One of the factors necessary for a company or organization to succeed is strong financial policies and procedures. Errors in accounting, for example, may lead to serious financial and legal consequences. The chief internal auditor is employed by an organization to analyze its operations and finances, ensuring there are no discrepancies, identifying issues that exist, and addressing those problems. They often work with accounting departments and other financial officers. The chief internal auditor is usually a high-level employee, often among the chief executives; however, they have a role distinct from others on that level and remain independent of most decision-making processes. The chief internal auditor may offer advice or counseling to upper management, but they generally not take an active role in implementing any changes.Read More...
Perhaps the most important traits for a chief internal auditor are objectivity and honesty. The chief auditor must avoid conflicts of interest while performing job duties, as the value of their work depends on those traits. Also necessary are strong analytical capabilities, a powerful eye for detail, and the diligence to ensure that the final report accurately represents the findings of the audit. It is an office job that generally takes place during normal business hours, although overtime may be required during the execution of an audit.
In terms of educational requirements, employers generally require a minimum of a bachelor's degree in management, business administration, or a related field. Additionally, certification as a certified public accountant (CPA), chartered financial analyst (CFA), or in a similar discipline may be required or preferred. Several years of management experience is also typically needed.
Chief Internal Auditor Tasks
- Develop strategies and procedures for carrying out internal audits.
- Report audit results to senior management.
- Oversee staff coordinating and implementing internal audits according to company procedures.
- Enforce compliance with company policies for risk assessment and financial controls.