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Technical Education a Must for CAEs

Please note: This item is from our archives and was published in 2007. It is provided for historical reference. The content may be out of date and links may no longer function.

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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 .