Internal Auditor - ANZSCO 221214

SOL | State SOL | Employer SOL| Regional

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 may be required.

Skill Level 1

Alternative Titles
Audit Officer

Skills Assessment Authority VETASSESS - Caveats Group A & VETASSESS-FAQ | Your Career | My Future

Caveats No caveats 

Endorsed Correlations to ASCO Occupations
2212-13 Internal Auditor
3211-11 Branch Accountant (Financial Institution)

Group: 2212 Auditors, Company Secretaries and Corporate Treasurers

Occupations not considered as highly relevant under this ANZSCO code
include, but are not limited to:
 Accountants
 Company Secretary
 Corporate Treasurer
 External Auditor
 ICT Quality Assurance Engineer
 Information and Organisation Professionals nec
 Quality Assurance Manager
 Specialist Managers
These occupations are classified elsewhere in ANZSCO.

Requirements for Skills Assessment
This occupation requires a qualification that is assessed as comparable to the
educational level of an Australian Qualifications Framework (AQF) Bachelor degree or
higher degree*.
In addition to this, applicants must possess at least one year of highly relevant postqualification employment, at an appropriate skill level, in the last five years. If the
qualification(s) are not at the required educational level, and/or not in a highly relevant
field of study, or if the employment has been completed prior to the qualification, then
the overall assessment outcome will be negative.
A positive assessment of both qualifications and employment is required for a positive
Skills Assessment Outcome.

*This includes qualifications assessed at AQF Bachelor, Master and Doctoral level. VETASSESS does not
currently accept relevant studies at Graduate Certificate and Graduate Diploma levels on their own.

Qualification
AQF Bachelor degree or higher*
Highly relevant major fields of study include:
 Accounting
 Commerce / Business

The courses should cover the key areas of Risk Analysis, Business Law, Organisational
Methods and Structures, Business Management, Accountancy, and Business Process
and Systems.
Other fields of study may be considered for a full skills assessment if the employment
is highly relevant and the field of study pertains to the area of employment.

*This includes qualifications assessed at AQF Bachelor, Master and Doctoral level.
VETASSESS does not currently accept relevant studies at Graduate Certificate and
Graduate Diploma levels on their own.

Employment
Highly relevant tasks include, but are not limited to:
 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 audit report criteria

Internal Auditors work in accordance with the International Professional Practices
Framework (IPPF) published by the Institute of Internal Auditors - Global. When
undertaking audits, Internal Auditors need to be able to assess an organisation’s
operations and provide assurance on the effectiveness of governance, risk
management and control processes. In order to minimise bias, an Internal Auditor
works independently of the area or organisation being audited. The scope of audit
includes review of the management system, human resources, work processes etc.,
besides the financial systems.

Employment positions in the areas of risk management and compliance do not demonstrate
the independence and objectivity expected of an Internal Auditor and are not considered highly
relevant. They may be considered as closely related for points test purposes if at the level of a
Professional or Manager in ANZSCO.
Internal auditors are independent of all areas subject to audit (including the compliance
function) to ensure objectivity and are not directly accountable for implementing risk
management processes.
Roles classified in ANZSCO Unit Group 2212 may also be considered for points test purposes.

Supporting material for assessment
Reference letters from employers should include detail of the audit tasks undertaken, in
particular, details such as the specific areas being audited, how often these are audited and the
scope of the audits conducted, as well as who the applicant reports to, the nature of the reports
they present, and how often reporting is undertaken.

Applicants nominating this occupation are also required to provide
 A Curriculum Vitae / Resume
 An Organisational Chart for each period of employment. This should include the
company letterhead, the applicant’s job position and those of her/his superiors and
subordinates as well as all positions reporting to her/his immediate supervisor and to
her/his direct subordinates

Applicants nominating this occupation are also encouraged to provide samples of some of the
following supplementary material:
 Audit plans
 Audit charter
 Summary of internal audit staffing profile
 Company overview, indicating area of business and key statistics

Applicants with an internal auditing role as well as other responsibilities within the organisation
would need to demonstrate that their primary role is that of an Internal Auditor. Applicants
engaged in the provision of outsourced Internal Audit services are encouraged to provide, to
the extent possible, details of client organisations and their need for these services.

Skill Level
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.