ABBOTT LABORATORIES Director, Internal Audit Salary in the United States

How much does a Director, Internal Audit make at companies like ABBOTT LABORATORIES in the United States? The average salary for Director, Internal Audit at companies like ABBOTT LABORATORIES in the United States is $412,412 as of August 27, 2023, but the range typically falls between $299,020 and $525,804. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, helps you determine your exact pay target.  View the Cost of Living in Major Cities2


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What does a Director, Internal Audit do at companies like ABBOTT LABORATORIES?

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 103,000 colleagues serve people in more than 160 countries.

Oversee the Finance audit function for Corporate Audit including supervising a team of managers and auditors in the U.S., Latin America and Europe. Plan and manage financial/operational internal audits for global manufacturing, marketing, and distribution sites in order to determine the adequacy of the systems of internal controls. Continually recruit, train and develop  professional staff primarily from large public accounting firms, including goal setting and performance management. Liaise with other Audit Directors in planning, executing and reporting of audits and staffing. A high level of interpersonal and communication skills is essential. Identify opportunities to develop improvements of department processes and procedures and support departmental projects and initiatives. Periodically assist in OEC (Office of Ethics and Compliance) investigations.  Requires sufficient operational experience to adequately address and dispose of audit issues as they arise.

Major Responsibilities: 

  • Responsible for compliance with applicable Corporate and Divisional Policies and procedures.
  • Assessing risk, and based upon risk assessment results, planning, scheduling and staffing individual audits.
  • Determine the adequacy of the systems of internal control.  Review and assess the soundness, adequacy and application of accounting, financial, and operating controls and the integrity of accounting records.
  • Develop and direct execution of audit procedures to assess compliance with established Corporate and Division policies, plans, procedures and approvals.
  • Prepare written reports of the audits performed; meet with appropriate levels of management, as needed, to review the results of the audit and follow-up on findings and recommendations to ensure that appropriate and timely action is taken by those responsible.
  • Travel extensively to the Company’s worldwide locations to direct internal audit engagements, as well as to assess and react to urgent situations and “fire drills” resulting from alleged illegal acts, violations of the code of conduct, and other suspected improprieties.
  • Coordinate internal audit efforts with those of external auditors.
  • Continually recruit, train, develop and place into the worldwide organization, high potential finance and accounting professionals.  Engage affiliate business leaders to identify future organizational needs and manage pipeline to meet those needs.

Position Accountability/Scope: 

The Director, Internal Audit is accountable both administratively and functionally to the Corporate Vice President, Internal Audit.  The Corporate Vice President, in turn reports administratively to the Chief Financial Officer and functionally to the Audit Committee and the Board of Directors.

Taken as a whole, the corporation has annual sales of more than $30 billion and is comprised of more than 100,000 employees worldwide, with products sold in more than 130 countries (120 auditable sites).

The Corporate Audit Department in total includes 62 audit professionals. This position requires international travel of approximately 20 - 40%.

Education/Experience/Training Required: 

The incumbent should have at least ten years of related work experience.  Part of the experience would have been obtained from employment with a major Public Accounting firm and/or as a member of an internal audit staff performing financial and operational audits; or a combination of these prerequisites.  The balance of the work experience should be in financial management activities.  

  • This position requires a bachelor’s degree, with a concentration in Accounting or Finance from a four-year college or university.  A CPA and/or an advanced degree are desirable.
  • Broad business background and the ability to apply sound business judgment regarding matters not covered by formal Company policies and procedures.
  • Sound background and understanding of international operations of the Company, including prior controllership/directorship experience in one or more profit-division operations.
  • Demonstrated sensitivity to foreign business practices and diverse cultures, including extensive first-hand experience interacting with management styles and methods in multiple countries.
  • Strong familiarity with financial and operational auditing procedures.  Knowledge and understanding of computer systems and capabilities and the ability to identify and evaluate potential computer applications.
  • Excellent supervisory and mentorship skills and the ability to work effectively with people at all levels on a one-to-one basis.
  • Demonstrated ability to communicate effectively, both orally and in writing to all levels of management including Corporate and Divisional Vice Presidents, General Managers, Directors and Controllers.
  • Personal qualities and characteristics consistent with the desired Company image.
  • A capacity for learning and a desire to keep abreast of the developments in the profession, and be capable of promotion to higher levels of management within the Company.
  • A high level of analytical ability is required to evaluate the problem to determine the best solution to a particular situation.   
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$299,020 Low Average $412,412 High $525,804

Understand the total compensation opportunity for Director, Internal Audit at companies like ABBOTT LABORATORIES, base salary plus other pay elements

Average Total Cash Compensation

Includes base and annual incentives

The chart shows total cash compensation for the ABBOTT LABORATORIES Director, Internal Audit in the United States, which includes base, and annual incentives can vary anywhere from $299,020 to $525,804 with an average total cash compensation of $412,412. Total compensation includes the value of any benefits received in addition to your salary and some of the benefits that are most commonly provided within a total compensation package including bonuses, commissions, paid time off, and Insurance. The total cash compensation may get paid differently by industry, location, and other factors.
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