Technical Education a Must for CAEs


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 .

SPONSORED REPORT

Gearing up for the new FASB lease accounting standard

Management accountants in the United States face significant challenges as companies prepare for the far-reaching change. This report looks at the standard, common challenges companies are likely to face and first steps to consider.

CHECKLIST

Being responsive to clients

CPAs and their firms have daily pressures and hectic schedules, but being responsive is crucial to client satisfaction. Leaders in the profession offer advice for CPA firms that want to be responsive to clients.

QUIZ

Learn to choose between ‘who’ and ‘whom’

Writers can stumble over who and whom (or whoever and whomever). If you write for business, this quiz can help make your copy above reproach.