SRGO Occupational Information Sheet

INTERNAL AUDITOR
(ANZSCO Code: 221214)

The following Information Sheet is for your reference only and should be used as a guide
to assist with your Skills Assessment application to VETASSESS. This information is subject
to change.

Please note that a Skills Assessment of the qualification involves assessment of both the
qualification level and content. Qualifications are assessed according to the guidelines
published by the Australian Government Department of Education and Training.

The skills assessment involves determining the skill level and relevance of the tasks
undertaken. Integrity checks may be conducted to verify the qualification and
employment claims made in an application.

Job Description

An Internal Auditor 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.

Alternative Titles:
Audit Officer

Occupations not considered by VETASSESS under this ANZSCO code:

External Auditor
Accountant
Manager
Quality Assurance Manager
ICT Quality Assurance Engineer

Internal Auditor (ANZSCO: 221214) MAY 2017 VETASSESS

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SRGO Occupational Information Sheet

INTERNAL AUDITOR
(ANZSCO Code: 221214)

Internal Auditors are highly skilled and experienced professionals who may come from a variety of
backgrounds. Applicants who do not have an accounting or business background are expected to
have undertaken further study and qualifications in the area of Auditing.

When undertaking audits, they need to be able to evaluate risks to the business and what
measures have been taken to manage that risk effectively. Accountants also perform financial
auditing tasks that are distinct from the audit tasks of an Internal Auditor. An Internal Auditor works
independently of the area or organisation being audited and the scope of audit includes review of
the management system, human resources, work processes etc., besides the financial systems.

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 the Internal Auditor. Applicants should
include detailed position descriptions and organisational structures that demonstrate the scope
and level of responsibilities as an Internal Auditor. Information such as a company overview is also
useful to provide the assessor with a clear picture of the nature of the business and their need for
an Internal Auditor role.

The employment reference letter supplied should include details of the audit tasks undertaken. In
particular, it should cover details of 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, how often this is undertaken.

Internal Auditor (ANZSCO: 221214) MAY 2017 VETASSESS

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SRGO Occupational Information Sheet

INTERNAL AUDITOR
(ANZSCO Code: 221214)
Requirements for VETASSESS Skills Assessment

Internal Auditor is a Group A Occupation.

This occupation requires a qualification which is assessed as comparable to the
educational level of an Australian Qualifications Framework (AQF) Bachelor or higher*, in
a field highly relevant to the nominated occupation.

Applicants must also have at least one year of highly relevant, post-qualification
employment, at an appropriate skill level completed in the last five years

If the qualification(s) are not at the required educational level, and not in a highly relevant
field of study, or if the employment has been completed prior to the qualification, then
the applicant will be assessed below the required skill level.

*This includes qualifications assessed at AQF Bachelor, Master and Doctoral level qualifications.

A positive assessment of both qualifications and employment is required for a positive

Skills Assessment Outcome.

Qualification

AQF Bachelor or higher*

Applicants must hold a highly relevant qualification.

Highly relevant fields of study include:

Accounting
Applied Corporate Governance
Commerce / Business

The courses should cover the key areas of Risk Analysis, Business Law, Organisational
Methods and Structures, Business Management, Accountancy, Business Process and
Systems.

Internal Auditor (ANZSCO: 221214) MAY 2017 VETASSESS

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SRGO Occupational Information Sheet

INTERNAL AUDITOR
(ANZSCO Code: 221214)

Employment

Tasks include
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

Additional tasks
identifying and applying relevant professional standards and

regulatory requirements

discussing reports with other auditors and issuing reports

recommending performance or control improvements

Internal Auditor (ANZSCO: 221214) MAY 2017 VETASSESS

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