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By Jessica Thakur, November 28, 2024
Applying for a skills assessment as an Internal Auditor under ANZSCO Code 221214 requires careful preparation to meet the requirements set by VETASSESS, the assessing authority. Here’s a comprehensive guide to help you navigate the process and achieve a positive outcome.
1. Understand the Role of an Internal Auditor
Internal Auditors evaluate, verify, and report on financial, operational, and managerial processes to ensure compliance and effectiveness. They work independently to assess governance, risk management, and control processes, adhering to the International Professional Practices Framework (IPPF) by the Institute of Internal Auditors.
2. Educational Requirements
A positive assessment requires your qualification to be comparable to an Australian Qualifications Framework (AQF) Bachelor’s degree or higher. Relevant areas of study include:
Accounting
Commerce/Business
Course coverage: Your degree should include topics like risk analysis, business law, organizational methods, business management, accountancy, and systems. If your field of study is not explicitly related but you have highly relevant employment, your application may still be considered.
3. Employment Experience
You need at least one year of highly relevant post-qualification employment at the appropriate skill level within the last five years. Ensure your employment meets these criteria:
Key Tasks Considered Highly Relevant:
Evaluating cost-effectiveness and risks of operational processes.
Reporting on internal controls’ effectiveness.
Designing and implementing audit methodologies.
Ensuring independence and objectivity from areas audited.
Non-relevant or Partially Relevant Tasks:
Roles in risk management and compliance are not considered as Internal Auditor roles because these lack the independence required for the occupation.
4. Supporting Documentation
To ensure your skills and experience are accurately represented, prepare the following:
Mandatory Documents:
Reference Letters:
Details of tasks and areas audited.
Reporting structures and frequency.
Scope and objectives of audits.
Organizational Chart:
Position of your role within the company.
Reporting lines, including subordinates and supervisors.
Curriculum Vitae (CV):
Clearly outline roles, responsibilities, and achievements.
Supplementary Material (Highly Recommended):
Audit plans and charters.
Internal audit staffing summaries.
Company overview with key business statistics.
If you provide outsourced auditing services, include client organization details to highlight your role’s scope.
5. Professional Standards and Independence
Adhering to the IPPF is crucial. Demonstrate how you maintain independence and objectivity, ensuring your work aligns with professional auditing practices.
6. Key Points for a Successful Application
Qualification Check: Ensure your degree is recognized and contains relevant coursework.
Relevant Experience: Highlight tasks aligning with the job description of an Internal Auditor.
Detailed Documentation: Provide comprehensive evidence of your work and its relevance.
Primary Role Focus: If you have additional responsibilities, clarify that internal auditing is your main function.
7. Common Challenges and How to Address Them
Qualification Not Relevant:
If your degree is in a less relevant field, emphasize your professional experience in highly relevant tasks.
Role Misclassification:
Avoid confusion with roles like Accountants, Quality Assurance Managers, or Risk Managers by detailing the independence and scope of your audits.
Conclusion
Achieving a positive skills assessment as an Internal Auditor requires demonstrating the relevance of your qualifications, aligning your experience with the occupational standards, and presenting thorough documentation. By following these guidelines and ensuring attention to detail, you’ll enhance your chances of success.
For more detailed information, refer to the official VETASSESS guidelines or consult a migration agent for personalized assistance.
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