Chief audit executives reported relatively high competency levels in the technical areas important to internal audit but said there’s still room for improvement. The top responsibilities needing improvement were:
|
“Need to Improve” Rank |
General Technical Knowledge |
Competency |
| 1 |
COSO Enterprise Risk Management Framework |
3.2 |
| 2 |
Enterprise Risk Management |
3.6 |
| 3 |
International Financial Reporting Standards |
2.3 |
| 4 |
Fraud Risk Management |
3.3 |
| 5 |
Six Sigma |
2.5 |
Note: Competency assessed on a scale of one to five with one being the lowest and five being the highest.
Source: Protiviti’s Internal Audit Capabilities and Needs Survey , 2006, www.protiviti.com .