Roles and missions of the Internal Controller
Internal Controllers are high-level professionals who ensure that their organisations operate effectively and with integrity. They provide assurance to shareholders, directors and management that the organisation is addressing its risks and complying with applicable laws and regulations. The main roles and missions of an Internal Controller include :
- Evaluating internal control systems to check that they are effective and appropriate for meeting the objectives of the strategic plan;
- Providing advice to management to improve the planning and control of risks and operational processes;
- Review procedures for compliance with applicable policies and legislation;
- Review financial statements and other reports to ensure that they are properly prepared;
- Ensure compliance with internal procedures and regulations for staff and operations;
- Analyse business practices and operations to identify and control risks;
- Provide assurance and added value through the implementation of effective control systems;
- Review operations to ensure compliance with policies and procedures;
- Monitor the activities of all departments within the organisation;
- Investigate allegations of fraud and corruption;
- Report the results of its investigations and recommend corrective measures;
- Assess regulatory changes and their impact on existing practices and procedures;
- Assisting and advising management on state and legal issues; and
- Develop and maintain compliance policies and procedures.
Salary and career development of the Internal Controller
An Internal Controller's salary can vary considerably depending on professional experience and skills. On average, the gross annual salary of an Internal Controller can vary between €30,000 and €50,000. Here's a bullet-point list to help you estimate gross annual salary based on experience:
- 0 to 2 years: €30,000
- 2 to 5 years: €35,000
- 5 to 10 years: €40,000
- 10 to 15 years: €45,000
- More than 15 years: €50,000
There are many possible career paths for an Internal Controller. Here is a non-exhaustive list of 5 possible careers:
- Financial Director ;
- Internal Control Director
- Risk Manager ;
- Chief Financial Officer;
- Audit Manager.
