Mumbai, the financial capital of India, is a hub for various industries, including finance, IT, and healthcare. The city’s economic growth has created a demand for skilled internal audit professionals. This article provides an in-depth overview of internal audit jobs in Mumbai, including salary ranges and a detailed job description.
Salary Overview
Internal audit salaries in Mumbai vary based on factors such as industry, company size, experience, and qualifications. Here are approximate salary ranges:
Internal Auditor (0-3 years):
– Small-sized companies (revenue < ₹500 crores): ₹4-7 lakhs (USD 5,500-9,600) per year
– Medium-sized companies (revenue ₹500-1000 crores): ₹7-12 lakhs (USD 9,600-16,500) per year
– Large-sized companies (revenue > ₹1000 crores): ₹12-18 lakhs (USD 16,500-24,500) per year
Senior Internal Auditor (4-7 years):
– Small-sized companies (revenue < ₹500 crores): ₹18-25 lakhs (USD 24,500-34,200) per year
– Medium-sized companies (revenue ₹500-1000 crores): ₹25-35 lakhs (USD 34,200-48,000) per year
– Large-sized companies (revenue > ₹1000 crores): ₹35-50 lakhs (USD 48,000-68,500) per year
Internal Audit Manager (8+ years):
– Small-sized companies (revenue < ₹500 crores): ₹50-70 lakhs (USD 68,500-96,000) per year
– Medium-sized companies (revenue ₹500-1000 crores): ₹70-100 lakhs (USD 96,000-137,000) per year
– Large-sized companies (revenue > ₹1000 crores): ₹100-150 lakhs (USD 137,000-205,000) per year
Job Description
Key Responsibilities:
- Audit Planning: Plan and conduct internal audits.
- Risk Assessment: Identify and assess business risks.
- Control Evaluation: Evaluate internal controls and processes.
- Audit Execution: Conduct audit procedures and testing.
- Report Writing: Prepare audit reports and presentations.
- Process Improvement: Recommend process improvements.
- Compliance: Ensure regulatory compliance and governance.
- Stakeholder Management: Communicate with stakeholders and management.
Requirements:
- Education: Bachelor’s degree in Accounting, Finance, or related field; CA, CMA, or CIA certification preferred.
- Experience: Minimum 1-3 years of internal audit experience.
- Language Skills: Fluency in English, Hindi, and Marathi.
- Technical Skills: Proficiency in audit software, such as ACL or IDEA.
- Soft Skills: Strong analytical, communication, and problem-solving abilities.
Industry-Specific Requirements:
- IT Industry: Knowledge of software development and IT security.
- Healthcare: Understanding of medical records and billing.
- Finance Industry: Familiarity with financial markets and instruments.
Career Path and Progression:
- Internal Auditor: Senior Internal Auditor, Internal Audit Manager.
- Senior Internal Auditor: Internal Audit Manager, Assistant Vice President.
- Internal Audit Manager: Vice President, Head of Internal Audit.
Challenges and Opportunities:
- Regulatory Complexity: Navigate India’s complex regulatory environment.
- Economic Volatility: Manage financial risks amidst economic uncertainty.
- Growth Opportunities: Identify emerging opportunities in internal audit.
- Talent Development: Attract and retain top internal audit talent.
Conclusion:
Internal audit jobs in Mumbai offer challenging and rewarding career opportunities. With competitive salaries and growing demand, Mumbai is an attractive destination for internal audit professionals.
If you are looking for suitable job, please upload your CV or apply here: www.finjobhub.com
