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

Revenue recognition: A complex effort

Implementing the new standard requires careful judgment. Learn how to make significant accounting judgments and document them and collaborate with peers for consistent application.

TECHNOLOGY Q&A

How to create maps in Excel 2016

Microsoft Excel 2016 has two new mapping capabilities. J. Carlton Collins, CPA, demonstrates how to make masterful 2D and 3D maps in Excel 2016.

QUIZ

News quiz: Economy and health care changes top CPAs’ list

CPA decision-makers’ economic outlook and the House Republicans’ proposed tax changes as part of replacing the Patient Protection and Affordable Care Act received attention recently. See how much you know with this short quiz.