Immigrate to Australia as an Internal Auditor: In-Depth Guide

Pioneer in the Business and Finance Industry, Internal Auditors are often considered as the watchdog of organisations ensuring finances, processes and operations are delivered accurately, safely and with compliance.

Australia offers exceptional job opportunities for skilled professionals in the finance sector, with internal auditors being highly valued for their role in accelerating an organisation’s growth. Well, if you are a qualified internal auditor and desire to settle overseas with the benefit of becoming an Australian permanent resident, then let us guide you through how you can immigrate to Australia as an internal auditor.

 Who is an Internal Auditor?

An Internal Auditor (ANZSCO Code- 221214) is a professional who conducts audits of accounting systems, procedures and financial statements, manages corporate funding and financial risk, and administers and reviews corporate compliance activities. In short, an internal auditor looks out for mistakes, risks, or areas that can be improved to make sure everything runs smoothly and protects the company from losses.

 Due to economical advancements, the profession of internal auditors have been in demand over the years and is presently also listed in Australia's shortage occupation list indicating the urgent need of internal auditors in Australia. Let us explore where in Australia there is a need for internal auditors bifurcating them over Australian states. 

Shortage Occupation List 

Apart from New South Wales, all the remaining states of Australia are in urgent need of internal auditors so as to increase the organisation’s efficiency.

 Roles and Responsibilities of an Internal Auditor

❖  An internal auditor is responsible for arranging, giving notice of and attending meetings of directors and shareholders

❖  He also advises organisations' governing boards on matters concerning compliance with stock exchange listing rules, relevant legislation and corporation practice

❖  He is also held responsible for supervising organisations' share capital by preparing documents and share issues, and handling share transfers

❖  He also controls treasury and treasury systems and establishes and reviews the risk management objectives and treasury policies

❖  He also identifies, manages and reports on financial risks

❖  He assists with equity management, debt management, securities and taxation planning issues

❖  An internal auditor also collects, analyse and interprets information on the financial standing, cost structures and trading effectiveness of organisations

❖  He is also entitled to devising, re-organising and establishing budgetary cost control and other accounting systems, such as computer-based systems

❖  He even conducts audits and investigations and prepares financial statements and reports for management, shareholders, and governing and statutory bodies

❖  He evaluates the cost effectiveness and risks of operational processes, activities, policies and systems

❖  He even reports to management on the existence and effectiveness of the system of internal controls

❖  He even establishes audit objectives, and designing and implementing audit methodologies, processes and audit report criteria 

Visa Pathways to Immigrate to Australia as an Internal Auditor

 1. Skilled Independent Visa (Subclass 189)

Also known as Skilled independent visa, Subclass 189, allows skilled professionals on the basis of skills inherited during their course of education and experience gained in the subsequent field.

 2. Skilled Nominated Visa (Subclass 190)

As mentioned, Subclass 190 is a skill-nominated visa which allows applicants to migrate only when they are being nominated by the Australian states such as South Australia, Western Australia, and Queensland.

 3. Skilled Work Regional (Provision) Visa (Subclass 491)

Subclass 491, allows skilled professionals to immigrate to Australia only when they are being nominated by the regional areas of Australia such as New Castle, Perth, and Adelaide.

 4. Graduate post-Vocational Visa (Subclass 485)

Subclass 485, is specially designed for international students who have just graduated or have an associate degree now desire to immigrate to Australia for better job opportunities. 

Average Salaries Drawn by the Internal Auditor in Australia

An internal auditor who takes all the responsibility of managing a company's finance is regarded as one of the demanding roles, making them on the list of some of the highest paying job profiles in Australia. An internal auditor earns a significant amount of money throughout their career. The average salary drawn by the internal auditor is presented below: 

How to Immigrate to Australia as an Internal Auditor

Immigration to Australia is not at all a complex process as if followed in a sequenced manner, skilled professionals can immigrate to Australia in a pleasant manner.

 1.  Check Eligibility

The initial step any qualified internal auditor has to take for immigration purposes is to check the eligibility requirements for the process. The eligibility factors are:

❖  65 points:

●    Age

●    Work experience

●    Educational qualifications

●    English language proficiency test score (IELTS, PTE, TOEFL)

❖   Selected occupation to be listed on the Australia Skilled Occupation List with a valid ANZSCO Code

 2.  Skill Assessment from Skillset

An internal auditor who desires to immigrate to Australia has to submit all the educational credentials to the VETASSESS Skill Assessment Authority. The skill assessment authority evaluates candidates qualifications according to the Australian standards. Along with educational credentials, applicants need to submit some of the essential documents, such as:

●    Valid passport

●    Employer reference letter

●    Work experience letter

●    Bank statement (3-6 months)

 3.  Apply ROI

After skill assessment, applicants are required to submit ROIs (Registration of Interest). ROIs are official declarations, stating candidates' interest in Australian states or territories for immigration. Without submission of ROIs applicants cannot proceed with the procedure of immigration. Applicants applying under subclass 190 and 491 are required to submit ROIs

 4.  Register EOI

The next step after submitting ROIs is to lodge an EOI (Expression of Interest). EOIs are official statements submitted by the applicant highlighting the purpose behind immigration and the duration of stay in Australia. 

 5.  Receive ITA

The last step in this journey is receiving an ITA (Invitation to Apply) from the Department of Home Affairs. Receiving an ITA ensures completion of the procedure and allows the submission of the official documents of the applicant.

 As international innovation increases, Australia continues to seek skilled internal auditors who can strengthen the organisation’s growth, minimise risk and secure management from future financial losses. Australia not only offers career advancement but also a stable lifestyle and a multicultural environment.