Every month, Robert Walters puts a popular job in the spotlight. This month, we selected the role of Internal Auditor, which is currently in high demand.
We asked Aline Lewy, Consultant in the Commerce & Industry Division and former Auditor, what the role consists of, what salary to expect and which career perspectives there are for Internal Auditors.
What are the main tasks of an internal auditor?
Aline: "The main tasks of an Internal Auditor are to check all processes in the different departments of a company from a global point of view, in order to determine whether there are any errors or risks involved. When this is the case, it is the responsibility of an Internal Auditor to find solutions and to advise employees in the organisation to improve the quality of the procedures. The ultimate goal is to create added value and increase productivity within the organisation or department."
Note that the function of an Internal Auditor is very different from that of an External Auditor. The latter's task is to check the conformity and validity of the financial statements of a company. He is not an employee of the audited organisation.
Are Internal Auditors in demand on the Belgian labour market?
"Professionals who are looking for a job as Internal Auditor often have the 'luxury' of being able to choose from several job offers, precisely because there are more jobs than there are available candidates". Jobfeed confirms that the demand for Internal Auditors is enormous: in the past year, the demand increased by no less than 56% compared to a year ago. Majority of the internal audit vacancies is located in Flanders and Brussels.
What skills are essential for a successful Internal Auditor?
"A successful Internal Auditor must have a critical mind in order to optimally control all processes of the organisation. He must be able to take a step back. Strong communication skills and attention to detail are also required. A degree in economics or management engineering is of course a strong asset. These courses have proven to offer a good general and diverse knowledge."
What is the average salary of an Internal Auditor?
According to our most recent salary survey, the average salary for an Internal Auditor with 5 to 7 years of experience is between 51,000 and 84,000 EUR gross per year. Someone who has been in the job for at least 7 years, earns between 78,000 and 94,000 EUR gross per year. For an Internal Auditor with more than 15 years of experience, the average gross annual salary is between EUR 94,000 and EUR 126,000. “Salaries strongly depend on the sector and the size of the company where the Internal Auditor is employed, but in most cases this salary is complemented by extra-legal benefits such as a company car, laptop, mobile phone, insurance package, etc.
What are the advantages of working as an Internal Auditor?
"First and foremost, there is the human contact. Internal Auditors are in regular contact with the other employees within the organisation. Internal Auditors have one step ahead in terms of internal development, as they have the knowledge and an overview of how the various departments work. Those who work for an international organisation also have the opportunity to travel. The processes are relatively similar from country to country, but are often not applied in the same way. It is then up to an Internal Auditor to visit the various sites in order to carry out the necessary analyses."
Does automation have an impact on the future of an Internal Auditor?
"Although digitisation makes it possible to automate processes, Internal Auditors will always be needed within an organisation. The human aspect and the critical mind remain irreplaceable in order to check all procedures within the company and to be able to give the appropriate advice."
Looking for a new opportunity in internal audit?
View our most recent internal audit jobs or contact one of our specialised consultants for specific career advice.