Internal auditor

What does an internal auditor do? – Tasks and work environment

An internal auditor works to review and evaluate an organization's internal processes, routines, and systems to ensure compliance with laws, regulations, and internal guidelines. Tasks include risk assessment, analysis of business processes, designing audit plans, and reporting deviations and improvement suggestions to management. The work is often carried out in close collaboration with various departments within the organization, requiring both integrity and communication skills. Internal auditors typically have an office-based work environment with meetings, documentation, and sometimes travel between different operational sites.

Salary development over time

The salary for internal auditors has shown a steady upward trend over the past three years. In 2022, the average salary was 47,800 SEK per month, increasing to 48 200 SEK in 2023. During 2024, the average salary continued to rise to 50 300 SEK, representing an increase of approximately 5.2% over this period. This positive salary development can partly be explained by increased demand for qualified internal auditors, especially within larger organizations and companies where requirements for internal control and compliance have tightened. Skills in digitalization and risk management are also highly valued, positively influencing salary levels. Despite good opportunities for salary growth, some gender pay gaps remain, with men earning on average higher incomes than women in the profession.

Internal auditor salary – comprehensive overview

• Average salary: 50 300 SEK/month
• Lowest salary: 39,500 SEK/month (female, high school education)
• Highest salary: 56,300 SEK/month (male, private sector, postgraduate education)
• Hourly wage (average): 303 SEK/hour
• Gender differences: Men 54 000 SEK, women 48 100 SEK (women earn 89 % of men's salary)
• Regional differences: Salary levels may vary depending on region and employer

Education and qualifications

To work as an internal auditor, a university degree in economics, accounting, or a related field is generally required. Many employers also seek experience in auditing, risk management, or financial control, and sometimes certification in internal auditing. Practical experience through trainee programs or internships is advantageous and can provide an edge in hiring.

• Formal degree: Bachelor's degree in economics, accounting, or similar (3 years)
• Certifications: Examples include CIA (Certified Internal Auditor) or equivalent
• Internship/trainee: Meritorious in auditing or finance
• Prerequisites: Good analytical skills and knowledge of business processes and regulations
• Tips for choosing: Courses in risk management and internal control are recommended

Common benefits and compensations

Internal auditors are often offered benefits such as occupational pension, wellness contributions, flexible working hours, and remote work options. Other common compensations include bonus programs, professional development, and extra vacation days. Employers in larger companies and the public sector may also offer insurance solutions and subsidized lunches.

Competition and challenges

The competition for internal auditor positions is moderate to high, especially in metropolitan areas and with sought-after employers. A major challenge is staying updated on changing regulations and new risk areas, such as IT security and sustainability reporting. The role requires high integrity and the ability to handle sensitive issues diplomatically. The job sometimes involves tight deadlines and meticulous documentation, which can be stressful. However, there are good opportunities for career development for those who are committed and willing to continue their education.

Tips for those wanting to become an internal auditor

To succeed as an internal auditor, it is beneficial to combine analytical skills with thoroughness and a strong sense of ethics. Building a broad understanding of business processes and regulations through education and practical experience provides an advantage. It is also important to be communicative and able to collaborate effectively across departments, as the role often involves explaining complex conclusions in an understandable way. Being solution-oriented and proactive facilitates the implementation of improvement suggestions. Finally, initiative and curiosity are highly valued, especially in a role where change and development are constant.

Key facts about Internal Auditor

• Educational level: Bachelor's degree in economics or accounting
• Work environment: Office-based, sometimes with remote work options
• Demand: Great opportunities for employment nationwide
• Typical work form: Full-time, often within larger companies and public sector
• Special skills: Risk management, compliance, and internal control

Career paths and future prospects

After three to five years as an internal auditor, there are opportunities to advance to roles such as chief auditor, risk manager, or controller within larger organizations. Some choose to specialize in areas like IT auditing or sustainability auditing. According to the Swedish Public Employment Service's forecast, demand for internal auditors is expected to remain unchanged over the next five years, but job opportunities remain strong nationwide. The recruitment situation is characterized by a shortage of experienced candidates, while many leave the profession for other roles within finance and corporate management. In total, there were 758 job openings in the auditing profession at the latest count.

Frequently asked questions about Internal Auditor

• What does an Internal Auditor earn?
  - An internal auditor earns an average of 50 300 SEK per month, with variations depending on experience and employer.
• Are there salary differences between genders?
  - Yes, men have an average of 54 000 SEK, while women earn 48 100 SEK, meaning women earn 89 % of men's salaries.
• What education is required to become an internal auditor?
  - Usually, a bachelor's degree in economics or accounting and preferably certification in internal auditing.
• What is the job market like for internal auditors?
  - Opportunities for employment are large nationwide, and demand is expected to remain unchanged in the coming years.
• What tasks does an internal auditor perform?
  - Tasks include reviewing processes, risk assessment, reporting, and improvement work within the organization.
• What career opportunities are available after a few years in the profession?
  - Internal auditors can advance to managerial roles, specialize, or work with risk management and controlling.