Vice President (VP), Internal Audit Salary
Earnings for Internal Audit VPs in the United States come in at around $133K per year on average. Total cash compensation for Internal Audit VPs runs from $102K to $217K depending on bonuses that can occasionally exceed $36K and profit sharing that can reach almost $43K. Experience level is the biggest factor affecting pay for this group, followed by the particular city and the specific company. Job satisfaction is reported as high by the vast majority of workers. Medical and dental benefits are awarded to almost all, and a fair number earn vision coverage. Men working as Internal Audit VPs who took the survey just slightly outnumber women at 53 percent. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
|Salary||$91,922 - $186,128|
|Bonus||$7,501 - $36,065|
|Profit Sharing||$0.00 - $42,500|
|Total Pay (||$102,014 - $217,353|
Job Description for Vice President (VP), Internal Audit
A vice president (VP) of internal audits usually holds a leadership position for a large corporation. They work with managers and auditors to address financial and operational issues and help the managers to overcome these problems. The vice president of internal audit oversees various audit-related processes in the company and provides objective evaluations. Then, they help other departments come up with ideas to improve these processes. The vice president of internal audit usually has a team of auditors to whom they delegate tasks.Read More...
The objective of a vice president of internal audit is to detect flaws and improve them, making operations more efficient. They must also make sure that the various departments within the company are adhering to corporate policies and the law. The vice president of internal audit must create reports detailing audit findings, as well as issue certifications for compliance and compliance training. They may also be responsible for hiring members of the auditing team.
This position generally requires extensive related experience, as well as at least a bachelor's degree in a related field. Because this is a management position, relevant management experience might be necessary. Knowledge of internal auditing software and the interpretation of law is essential. This position is generally full time and takes place in an office setting, although it may require travel to the company's various operational areas.
Vice President (VP), Internal Audit Tasks
- Conduct internal audits, determine the objectives of audits, and track audit results.
- Propose methods to improve processes and problem areas identified by audits.
- Train and manage the internal auditing staff and conduct evaluations.
- Design methods to assess and mitigate business risks.
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