Vice President (VP), Internal Audit Salary
Median pay for Internal Audit VPs in the United States is around $134K per year. In the world of Internal Audit VPs, total cash compensation can vary between $101K and $219K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $35K and $48K, respectively. Experience level is the main element affecting pay for this group — the particular city and the particular employer are driving factors as well. In this profession, almost all enjoy medical and dental coverage, and a fair number have vision insurance, as well. Work is enjoyable for Internal Audit VPs, who typically claim high levels of job satisfaction. Men make up a slight majority of Internal Audit VPs (54 percent) who responded to the survey. The numbers in this rundown were provided by PayScale's salary survey participants.
|Salary||$90,430 - $191,792|
|Bonus||$7,219 - $35,479|
|Profit Sharing||$0.00 - $48,479|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$100,933 - $218,839|
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. (Copyright 2017 PayScale.com)
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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