BSA 2024 Internal Audit Salary Guide v3 SPREADS - Flipbook - Page 7
07
Contract recruitment trends
The interim market for internal audit, assurance
and controls enjoyed a buoyant year in 2023, having
experienced a relatively subdued period over the
preceding 12 months.
Demand peaked in the 昀椀rst six months of the year,
but gradually tapered off in the latter half. Nonetheless,
it has still been a busy time for contractors, temporary
workers and co-source services.
“We have seen a lot of interim hiring across both internal
audit and controls roles,” says Andrew Whyte, Associate
Director and Head of Interim at Barclay Simpson.
“Preparations for UK SOx were a particularly large driver
of demand, with organisations seeking either experienced
project directors or internal UK SOx controls managers
to help them comply with any potential obligations.”
As such, leveraging subject matter expertise was
the primary reason for hiring interim staff for 47%
of organisations in 2023, while 17% engaged with
contractors for speci昀椀c projects.
Two years ago, 18% of employers said they hired interim
staff because they simply could not source the permanent
employees they needed. This 昀椀gure has since plummeted
to just 5%, which is unsurprising given the more depressed
demand in the permanent market over the last 12 months.
In fact, our consultants report that permanent employees
are increasingly open to interim opportunities. Some are
contractors who are returning to the space after being
forced to switch to permanent roles when the interim
market slowed in 2022.
Other professionals, however, are exploring contracting
for the 昀椀rst time, citing the cost-of-living crisis and a desire
for greater 昀氀exibility in their role.
Primary reasons for using interim, contract and co-source staff
Absence cover: 12%
Support BAU
due to increased
workloads: 12%
2023
Leverage
subject matter
experience: 47%
Speci昀椀c
projects: 17%
Absence cover: 15%
Leverage
subject matter
experience: 27%
Inability to
source perm
staff: 18%
2022
Speci昀椀c
projects: 21%
Inability to
source perm
staff: 6%
Absence
cover: 21%
Speci昀椀c
projects: 21%
2021
Leverage
subject matter
experience: 35%
