Salaries Rising for Internal Auditors Despite Looming Downturn in Economy
ALTAMONTE SPRINGS, Fla. -- Internal auditors remain in demand, with their average salaries rising almost five percent this year, according to the 2008 Salary Guide from Robert Half International. The report identifies internal auditing as one of five jobs that are positioned for growth in the upcoming year."With the growth we've seen in the profession over the last five years - it's not surprising," said David A. Richards, CIA, president of The Institute of Internal Auditors (IIA). "But it's also definitely good to know that organizations are continuing to highly value internal auditing as essential to conducting business effectively and efficiently during lean times."The Robert Half Salary Guide reported that internal audit managers at large companies will post the largest salary gains at 6.7 percent. Information technology auditing managers will also see more compensation for their expertise, with a salary bump of 5.5 percent. And chief audit executives, vice presidents of internal audit, and internal audit directors will make as much as $213K in salary, annually - a pay hike of at least three percent over last year. The report also cited the Certified Internal Auditor (CIA) as a valuable designation, and the southeast and north-central regions of the U.S. as areas in most demand for internal auditors."The market remains very competitive for highly skilled and experienced auditors who can fill those in-demand positions," said Paul McDonald, executive director of Robert Half Management Resources, a division of Robert Half International specializing in the placement of senior-level accounting and finance professionals on a project and interim basis. "Certification can greatly enhance an auditor's marketability and earning potential."The internal audit profession has surged in growth over the last decade, with The IIA's membership doubling to more than 150,000 since 2002. According to the American Society of Association Executives, typical associations grow at an average rate of about three percent, annually. ###About Robert Half and the 2008 Salary GuideRobert Half International is the world's first and largest specialized staffing firm. Its 2008 Salary Guide is based on an analysis of the thousands of job placements managed by the company's U.S. offices and includes an overview of the hiring environment and national average starting salary ranges for positions in accounting, finance, banking and financial services. About The IIAEstablished in 1941, The Institute of Internal Auditors is an international professional association with members in 165 countries and global headquarters in Altamonte Springs, Fla., USA. The IIA is the internal audit profession's global voice, standard-setter, and resource for professional training and certification.Contact: Scott McCallumOffice: +1(407) 937-1247 Cell: (321) 246-7649Scott.McCallum@TheIIA.org