Salary of Certified Internal Auditor
1. Auditor
The starting salary for an entry-level auditor in the United States is approximately $60,000. Internal auditors with less than a year of experience can expect to earn approximately £30,000 (approximately $41,000 USD) in the United Kingdom. An equivalent entry-level position in India remunerates approximately $5,300 USD, or 390,000 rupees. Numerous positions beyond that of an auditor will demand additional certification and experience. Successfully completing the Certified Internal Auditor examination signifies a comprehensive comprehension of the domain of internal auditing. Certification can not only result in an increased salary but also provide access to fresh professional opportunities.
2. Senior Auditor
A senior auditor is the position immediately above an auditor and is responsible for supervising a group of internal auditors. In addition to conducting final evaluations of the financial systems and information of the organisation, senior auditors verify the accuracy of all data prior to being released to management for decision-making purposes. An estimated senior internal auditor salary in the United States is $80,000, while in India it is 660,128 rupees (approximately $9,000 USD) or £54,000 (approximately $74,000 USD).
3. Audit Supervisor
The audit supervisor primarily assumes the responsibility of risk management. Alongside collaborating with senior auditors, this role entails establishing the organization’s risk threshold and conducting tests to verify compliance with said thresholds. A responsibility of the audit supervisor would also be to provide updates to executive management. An audit supervisor would earn approximately $90,000 annually on average. This amounts to approximately £78,500 (approximately $107,000) in the United Kingdom and 835,000 rupees (approximately $11,500) in India.
4. Chief Audit Executive
Chief Audit Executive (CAE) is the highest level of the corporate hierarchy. The CAE must communicate clearly with each staff member and the board of directors in order to make sure that the internal audit runs efficiently and that the results are accessible to upper management. The CAE must have an in-depth knowledge of how every aspect of the organisation operates. The average annual salary of a chief audit executive is $150,000 in the United States, £120,000 (approximately $164,000 USD) in the United Kingdom, and 3.1 million rupees (approximately $42,000 USD) in India.
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