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Internal Audit Capabilities and Needs Survey
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Over the years, the responsibilities of internal audit functions have increased substantially in scope and complexity, creating the need for a commensurate increase in the knowledge, skills and expertise of internal audit professionals. With the third survey report released in 2009, this research follows internal audit professionals’ ongoing quest to continue to expand their knowledge base in an environment with increasing demands.
2008 Edition
2006 Edition
2009 Edition
In today’s difficult economic environment, internal auditors are playing a critically important role in monitoring organizationwide systems, processes and controls, as their companies today can ill afford even the slightest breakdowns, losses or inefficiencies. It is in this environment that Protiviti conducted its third Internal Audit Capabilities and Needs Survey among chief audit executives (CAEs), as well as internal audit directors, managers and staff.
This year, along with reviewing the results of our latest survey, the report charts and comments on some of the more interesting trends that have emerged since 2006, when this survey was first conducted. Each section of the report includes a three-year summary comparing the top areas for improvement since Protiviti released the results of the first Internal Audit Capabilities and Needs Survey. The report also reviews three-year trends among the responses of chief audit executives.
Survey findings include:
- Now that this survey has been conducted three times over the past four years, it is interesting to note the activities and competencies that have emerged as consistent high priorities for chief audit executives and internal audit professionals: Enterprise Risk Management; Fraud (monitoring, detection and prevention); Continuous Auditing and Computer-Assisted Audit Techniques; Developing Other Board Committee Relationships.
- Overall, the greatest need to improve is with The IIA's Guide to the Assessment of IT Risk (GAIT), although it is not ranked among the lowest competency levels.
- IFRS and XBRL also rank high as "Need to Improve" areas, likely because of the pending conversion in the United States to these financial reporting requirements.
- Computer-Assisted Audit Techniques ranks as the top "Need to Improve" area for the second consecutive year, tying with Continuous Auditing, which ranked second a year ago.
- Four fraud-related activities also rank among the areas in most need of improvement - this is a significant change from the previous survey, in which no fraud-related internal audit activities ranked among the top responses.
- Developing Other Board Committee Relationships ranks as the top area in need of improvement for the third time in as many surveys.
- Dealing with Confrontation, an area added to the 2009 study, ranked as the second highest "Need to Improve" area.
Download 2009 Internal Audit Capabilities and Needs Survey (PDF) (requires Acrobat Reader; please disable your pop up blocker)
2008 Edition
More than 500 internal audit (IA) professionals, including chief audit executives (CAEs), internal audit directors, managers and other auditing professionals answered more than 70 questions in three subject areas: General Technical Knowledge, Audit Process Knowledge, and Personal Skills and Capabilities.
Download 2008 Internal Audit Capabilities and Needs Survey (PDF) (requires Acrobat Reader; please disable your pop up blocker)
2006 Edition
In 2006, Protiviti conducted its inaugural survey of 456 chief audit executives, internal audit directors, managers and other professionals to determine how they perceive their present capabilities, where they currently see need for improvement and how they prioritize those needs.
Download Internal Audit Capabilities and Needs Survey (PDF) (requires Acrobat Reader; please disable your pop up blocker)
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