While auditors are still responsible for providing an independent assurance function, there is a growing trend for them to work more closely within the business, according to the Hays Accountancy & Finance Salary Guide 2013. The traditional role of internal auditors has evolved considerably in recent years. This is partly due to the increased focus on financial transparency, intense scrutiny of regulators and rigorous government legislation, which has driven the demand for internal auditors and corporate governance professionals.
Internal auditors are increasingly broadening their remit as organisations are giving them greater access to all business areas to address weaknesses in their processes and systems, mitigate risk and build efficiencies. Despite these professionals being sought after, salaries have remained steady across the country, with audit managers earning on average in the region of £60,000, while senior level audit directors can earn on average £100,000.
Mark Sheldon, Managing Director of Hays Accountancy & Finance, says “The fierce regulatory environment has heightened the demand for those with specialist skills in audit, risk and regulation. Candidates who stand out in today’s market don’t just need strong technical and accounting skills but must be able to act as a consultative business partner. Employers are increasingly asking more of their audit professionals including engaging with other parts of the business, taking a commercial view and looking to minimise risk. Employers are also looking for strong communicators and professionals who can proactively identify areas of opportunity such as streamlining processes to save costs. A good auditor spends more time than ever reviewing end-to-end business processes with a view to improving efficiencies and ultimately profitability. Therefore, despite salaries remaining static last year, we expect a there to be steady increase in 2013 to reflect the demand for auditors.”
About the Hays Accountancy & Finance salary guide 2013
The Hays Accountancy & Finance Salary Guide 2013 is compiled from a survey of 570 employers and 780 employees. To read the salary guide visit: www.hays.co.uk/finance-salary-guide/
Hays plc (the "Group") is a leading global professional recruiting group. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK and Asia Pacific and one of the market leaders in Continental Europe and Latin America. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As at 30 June 2012 the Group employed 7,800 staff operating from 245 offices in 33 countries across 20 specialisms. For the year ended 30 June 2012:
– the Group reported net fees of £734 million and operating profit (pre-exceptional items) of £128 million;
– the Group placed around 55,000 candidates into permanent jobs and around 182,000 people into temporary assignments;
– 33% of Group net fees were generated in Asia Pacific, 36% in Continental Europe & RoW (CERoW) and 31% in the United Kingdom & Ireland;
– the temporary placement business represented 56% of net fees and the permanent placement business represented 44% of net fees;
– Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Colombia, Chile, China, the Czech Republic, Denmark, France, Germany, Hong Kong, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Russia, Singapore, Spain, Sweden, Switzerland, UAE, the UK and the USA
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