Internal Auditor Career and Immigration options for Australia

Profile Title: Internal Auditor Career and Immigration options for Australia

Alternative Title:Audit Officer

ANZSCO Code: 221214 | Unit Code: 2212

Skill Level: Level 1 | Work Experience: 1 Years

Assessing Bodies: Vocational Education and Training Assessment Services (VETASSESS)

Skill Occupation List (SOL): MLTSSL

Specialization: Not Defined

Profile Description: 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. Registration or licensing is required.

Job Duties:

• arranging, giving notice of and attending meetings of directors and shareholders
• advising organisations governing boards on matters concerning compliance with stock exchange listing rules, relevant legislation and corporation practice
• supervising organisations share capital by preparing documents and share issues, and handling share transfers
• controlling treasury and treasury systems and establishing and reviewing risk management objectives and treasury policies
• identifying, managing and reporting on financial risks
• assisting with equity management, debt management, securities and taxation planning issues
• collecting, analysing and interpreting information on the financial standing, cost structures and trading effectiveness of organisations
• devising, re-organising and establishing budgetary cost control and other accounting systems such as computer-based systems
• conducting audits and investigations and preparing financial statements and reports for management, shareholders, and governing and statutory bodies
• evaluating the cost effectiveness and risks of operational processes, activities, policies and systems
• reporting to management on the existence and effectiveness of the system of internal controls
• establishing audit objectives, and designing and implementing audit methodologies, processes and auditreport criteria

Skill Level Description: In Australia and New Zealand: Most occupations in this unit group have a level of skill commensurate with a Bachelor Degree or higher qualification. In some instances relevant experience and/or on-the-job training may be required in addition to the formal qualification. In the case of Corporate Treasurers and Company Secretaries, at least five years of relevant experience may substitute for the formal qualification (ANZSCO Skill Level 1). Registration or licensing may be required.

Available Visa Options (As on February 2024):

• 186 - Employer Nomination Scheme visa (subclass 186)
• 189 - Skilled Independent (subclass 189) - Points-Tested
• 190 - Skilled Nominated (subclass 190)
• 407 - Training visa (subclass 407)
• 485 - Temporary Graduate (subclass 485) - Graduate Work
• 489 - Skilled Regional (Provisional) visa (subclass 489) - Family sponsored
• 489 - Skilled Regional (Provisional) visa (subclass 489) - State or Territory nominated
• 482 - Temporary Skill Shortage (subclass 482) – Medium Term Stream
• 187 - Regional Sponsor Migration Scheme (subclass 187)
• 494 - Skilled Employer Sponsored Regional (provisional) (subclass 494) - Employer sponsored stream
• 491 - Skilled Work Regional (provisional) visa (subclass 491) State or Territory nominated
• 491 - Skilled Work Regional (provisional) visa (subclass 491) Family Sponsored

Registration or Licensing: may be required

Industries: Auditors and Company Secretaries are mainly employed in: Professional, Scientific and Technical Services; Public Administration and Safety; and Financial and Insurance Services

Education Profile: The most common level of educational attainment for Auditors and Company Secretaries is Post Graduate/ Graduate Diploma or Graduate Certificate (41.7 per cent).

Job Opening: Over the five years to November 2019, the number of job openings for Auditors and Company Secretaries is expected to be below average (between 5,001 and 10,000). Job openings count both employment growth and turnover (defined as workers leaving their occupation for other employment or leaving the workforce).

Age Group: The main age group is 25-34 years (26.0 per cent) and the median age is 41 years (compared to 40 years for all occupations).

Gender: The female share of Auditors and Company Secretaries is 49.8 per cent and 84.7 per cent of Auditors and Company Secretaries work full time. Average weekly hours for full time workers are 40.3 (compared to 40.2 for all occupations).

Earning: In August 2014 (latest available data) weekly earnings full-time before tax (and not including employer superannuation) were $1,637 (compared to earnings for all occupations of $1,200).

Employment: Employment for this occupation rose very strongly (in percentage terms) in the past five years and rose very strongly in the long-term (ten years). Looking forward, employment for Auditors and Company Secretaries to November 2020 is expected to grow very strongly.