Two-thirds (67%) of internal auditors believe that they are under-resourced, and consequently unable to carry out their job effectively, according to a survey of internal auditors carried out by Protiviti. Just 14% of them believe they have access to all the skills required to meet the requirements of their audit charter.
Of those questioned, 40% said that prior to the recession, their internal audit function was not focused on the ‘right’ risks, and therefore unable to adequately assess and carry out their requirements.
Sukhdev Bal, director, Protiviti said: “The last couple of years have exposed deep flaws in the governance and risk management landscape. We believe that internal audit can help to address these flaws, but to do this, there needs to be a clear understanding of the evolving role, requirements and expectations of internal audit. Internal auditors must continue to enhance their skills and educate themselves on new technologies and competencies that will be required by their organisations in the months and years to come.”
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