Internal Auditors Doing More, Need More Training


Internal auditors are expanding their roles beyond compliance to include advising on business improvement and strategy, but their skills in these specialty areas may not be keeping up, according to the Ernst & Young 2008 Global Internal Audit Survey.

The results of the survey, which included 348 internal audit executives in 35 countries, show a need for greater focus on operational risks over the next two years. Respondents cited the following as the top areas in need of increased attention:

IT (75%)

Mergers and acquisitions (61%)

Major capital programs (53%)

Performance improvements (45%)

Information security (44%)

Fraud (39%)

However, the survey also found that internal audit’s traditional competencies don’t fully meet the needs of today’s organizations. Only 17% of respondents rated their risk assessment performance as “very competent.” Lack of time dedicated to training efforts is the key impediment to specialty skills development, said 55% of the respondents.

Source: Ernst & Young 2008 Global Internal Audit Survey.

SPONSORED REPORT

Cybersecurity threats proliferating for midsize and smaller businesses

This report details how SMBs can properly protect private information from breaches, design and implement a cybersecurity policy, and create safeguards for training and education.

QUIZ

News quiz: Senate health care bill in the spotlight

Reports related to the Republican bill to repeal many provisions of the PPACA, other tax issues, and the giant AICPA ENGAGE Conference offered a diverse reading list for June. See how much you know about recent news with this short quiz.