Auditing is a stepping stone for the business leaders of tomorrow

Todayís auditors see the profession as a stepping stone to senior roles outside the industry according to a new survey of auditors across the globe by www.careersinaudit.com. Almost two thirds (65%) of those surveyed expect to leave the industry within five years with the aim of taking the business skills developed as an auditor into control, consultation and corporate finance.

The findings of the ëThe State of the Industry 2006í report which surveyed auditors on every continent reveal that audit is increasingly a ëyoungí industry with 89% of those questioned being aged under 30. The prospect of career development serves as an incentive for 47% of auditors, yet only 15% saw their long term future in the industry. Todayís auditors are planning to transfer their professional skills and experience elsewhere with a role in financial control a likely destination for just under a quarter (24%).

ìAuditing is a young and vibrant profession which offers the opportunity to develop a varied and successful business careerî, said Max Williamson, CEO of www.careersinaudit.com. ìWith former heads of internal audit teams now moving into CFO positions, auditing is a genuine stepping stone for the business leaders of tomorrow.î

The report also reveals that the introduction of IFRS and SOx legislation continues to have a positive affect on pay levels. 44% of respondees saw increases of up to 10% in the last twelve months with more than 1 in 10 (11%) seeing a 30% rise. Over a quarter (26%), expect this trend to continue with a further salary rise of up to 20% in the coming year. Legislation has also resulted in greater workloads with 19% pointing to volume of work as their greatest challenge.

New legislation has also had a positive impact on the perception of auditors. Only 7% felt that they were perceived as a policeman or an expensive irritation (6%) by their audit clients. 4 in 10 (40%) believe that they are seen as a valuable resource of information and advice.

ìGiven that salary levels are rising and opportunities for career development are increasing itís not surprising to hear that auditors feel very optimistic about their careers in the post-Enron climateî, commented Max Williamson. ìWe can expect to see more auditors moving into senior finance positions.î