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Audit Market Report 2021

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Gareth Carpenter Audit, Audit, Financial Services and Banking...

Internal Audit is a cornerstone offering for Hamlyn Williams and we are delighted to be launching our 2021 report. 

Our annual reports offer insights and guidance to clients seeking to hire and build teams as well as candidates considering the market. 

We released last year’s Internal Audit Market Report just as it was being realized how significant and far-reaching the consequences of Covid-19 would be, not just from the point of view of the catastrophic global health crisis, but also from an economic and social perspective. In our 2020 report, hastily re-written to reflect the situation, we looked at the potential effects on the world of work and individual career pathways, whether appetite to hire would diminish, the effects on physical workspaces, and how regulators would react given additional pressure on Audit and other governance functions. Looking back at this point in 2021, with multiple vaccines being rolled out in the U.S. and tentative optimism returning, it is interesting to consider our perspectives a year ago when so much was still unknown.

2021 Audit Market Report 

In this year's Hamlyn Williams Audit Market Report we discuss how the reality has been both more challenging, and in some senses less dramatic, than anyone may have expected. Auditors, just as every other professional group, have been required to navigate the logistical and mental health challenges of working from home (mostly 100%) for over a year now. This is in addition to dealing with the health implications of daily life, the severity of which has depended upon which State one happens to live in. At the same time, Internal Audit functions have adjusted well to hiring and onboarding remotely. While firms have been more careful about the roles they authorize, and candidates have themselves been more risk-averse to the thought of joining a new employer on a fully remote basis, recruitment has continued relatively consistently across the majority of our clients, with some taking the opportunity afforded by remote working to accelerate location strategies that were already in motion pre-pandemic.  

 

This report includes:

  • Setting The Scene- Foreword and Introduction

  • Audit Hiring Update

  • Top New Candidate Skills – Business Audit and IT Audit

  • Recent Regulatory Impacts

  • Location Strategies/Offices

  • Audit Outlook for the Future

  • Leader Interview with David J. Dunn

  • Interview with Shirley Jiang

  • Salary Benchmarking

 

View the report here: Audit Market Report 2021

 

We would like to thank our contributors David J. Dunn, Assistant General Auditor at PNC Bank, and Shirley Jiang, Managing Director Deputy Cheif Audit Executive at Bank of China. Insight from Audit Leaders and other subject-matter experts forms a key part of Hamlyn Williams Client Value Proposition and we appreciate the generous time invested.

We hope you enjoy this report. Please feel free to contact us with any questions or suggestions at g.carpenter@hamlynwilliams.com or on LinkedIn 

 

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