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 .

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