Accredited courses from leading Australian universities, TAFEs and colleges

StudySelect branding logo with stylized graduation cap

Select Industry

Courses by Study Type

Career Advice


career-vectorCareer overview: what it takes to become a Certified Internal Auditor in Australia

How to Become a Certified Internal Auditor in Australia: careers in Accounting and Bookkeeping

Symbolic icon for Certified Internal Auditor profession
Sorry, we don't have any courses leading to a career as a Certified Internal Auditor for you at the moment. Please try searching again.

Definition of a Certified Internal Auditor

The career of a Certified Internal Auditor (CIA) is both dynamic and rewarding, offering professionals the opportunity to play a crucial role in enhancing the integrity and efficiency of organisations. Internal auditors are responsible for examining, evaluating, and reporting on the financial and operational processes of a business. They ensure compliance with regulations and internal policies, providing valuable insights that help organisations improve their operations and mitigate risks. This role is essential in fostering transparency and accountability within an organisation, making it a highly respected profession in the business world.

Certified Internal Auditors engage in a variety of responsibilities that contribute to the overall health of an organisation. They conduct thorough audits and investigations, analysing financial statements and operational processes to identify areas for improvement. By establishing audit objectives and designing methodologies, they ensure that audits are conducted systematically and effectively. Additionally, they play a key role in risk assessments, helping organisations to identify potential vulnerabilities and develop strategies to address them. This proactive approach not only safeguards the organisation’s assets but also enhances its reputation in the marketplace.

Common tasks for a CIA include collecting and interpreting financial data, evaluating the effectiveness of internal controls, and preparing detailed reports for management and stakeholders. They often collaborate with various departments to implement recommendations and monitor progress against established outcomes. This collaborative aspect of the role fosters a culture of continuous improvement and innovation within the organisation. Moreover, the skills developed in this career, such as analytical thinking, problem-solving, and effective communication, are highly transferable and valued across various industries.

As the demand for transparency and accountability in business continues to grow, the role of Certified Internal Auditors is becoming increasingly vital. With opportunities for career advancement and the potential for specialisation in areas such as risk management or compliance, this profession offers a fulfilling path for those looking to make a significant impact in the corporate world. The combination of intellectual challenge, professional growth, and the ability to contribute to an organisation’s success makes a career as a Certified Internal Auditor an excellent choice for ambitious individuals.

On this Page

What Will I Do

What Skills Do I Need

Career Snapshot

Resources

What does a Certified Internal Auditor do?

The role of a Certified Internal Auditor is pivotal in ensuring the financial and operational integrity of an organisation. These professionals meticulously examine, evaluate, and report on various processes and systems, helping businesses maintain compliance and improve efficiency. Their expertise not only aids in risk assessment but also supports strategic decision-making, making them invaluable assets in any corporate environment.

  • Equity and Debt Management – Assists with equity management, debt management, securities, and taxation planning issues.
  • Financial Analysis – Collects, analyses, and interprets information on the financial standing, cost structures, and trading effectiveness of organisations.
  • Budgetary Control – Devises, reorganises, and establishes budgetary cost control and other accounting systems, including computer-based systems.
  • Audits and Investigations – Conducts audits and investigations, preparing financial statements and reports for management, shareholders, and governing bodies.
  • Cost Effectiveness Evaluation – Evaluates the cost-effectiveness and risks of operational processes, activities, policies, and systems.
  • Audit Methodology Development – Establishes audit objectives and designs and implements audit methodologies, processes, and report criteria.

What skills do I need to be a Certified Internal Auditor?

A career as a Certified Internal Auditor (CIA) requires a diverse set of skills that blend analytical thinking, attention to detail, and strong communication abilities. Internal auditors must be adept at examining and evaluating financial and operational processes to ensure compliance and integrity within an organisation. This role demands proficiency in data analysis, risk assessment, and the ability to develop and implement effective audit methodologies. Furthermore, a solid understanding of accounting principles and regulatory requirements is essential for success in this field.

In addition to technical skills, interpersonal skills are crucial for a CIA. The ability to communicate findings clearly and persuasively to stakeholders, including management and board members, is vital. Internal auditors often work collaboratively with various departments, requiring strong teamwork and relationship-building skills. Continuous professional development and staying updated with industry trends and regulations are also important, as the landscape of auditing and compliance is constantly evolving.

Skills/attributes

  • Strong analytical skills
  • Attention to detail
  • Excellent communication skills
  • Problem-solving abilities
  • Knowledge of auditing standards and practices
  • Understanding of financial reporting and accounting principles
  • Ability to work independently and as part of a team
  • Time management and organisational skills
  • Ethical judgement and integrity
  • Proficiency in data analysis and interpretation
  • Familiarity with risk assessment methodologies
  • Adaptability to changing regulations and standards
  • Technical proficiency in auditing software and tools
  • Ability to prepare clear and concise reports
  • Strong interpersonal skills for stakeholder engagement

Does this sound like you?


Career Snapshot for a Certified Internal Auditor

The career of a Certified Internal Auditor is both dynamic and essential in ensuring the integrity of financial and operational processes within organisations. This role is characterised by a strong focus on compliance, risk assessment, and the evaluation of business processes.

  • Average Age: 39 years
  • Gender Distribution: 57% female
  • Hours Worked: Average of 41 hours per week, with 85% working full-time
  • Average Salary: Approximately AU$79,336 per year
  • Employment Rate: 6,000 individuals currently employed as Internal Auditors
  • Unemployment Rate: Not specified
  • Projected Growth: Annual employment growth data not available, but the demand for internal auditors remains strong across various sectors

Internal Auditors play a critical role in industries such as financial services, public administration, and professional services. Their expertise is increasingly sought after as organisations strive for transparency and accountability in their operations.

As the landscape of business continues to evolve, the role of Internal Auditors is expected to grow, reflecting the increasing importance of risk management and compliance in today’s corporate environment.

Source: ABS, 2021 Census of Population and Housing


Accounting and Bookkeeping Career resources

StudySelect makes every effort to ensure the information we provide is correct at the time of publication. We welcome your input to help keep our career profiles as accurate and up to date as possible. All queries and feedback will be taken into consideration as we conduct periodic reviews of our content. Add your voice to the conversation!