IIA Unveils New Framework to Enhance Internal Audit Competencies

08-10-2020

The Institute of Internal Auditors (IIA), as the internal audit profession’s most widely recognized advocate, educator, and provider of standards, guidance, and certifications, announced that it is launching a new, comprehensive framework for the professional development of internal auditors.

The IIA’s Internal Audit Competency Framework provides career advancement direction and support for practitioners at all levels – from those just beginning to develop their professional acumen, to more experienced practitioners seeking to further boost their performance, to existing and aspiring leaders who want to demonstrate their ability to improve their organization’s overall performance.

“Expectations by stakeholders are growing exponentially, presenting challenges but also opportunities for internal auditors to evolve and enhance their value to organizational success,” said IIA President and CEO Richard F. Chambers, CIA, QIAL, CGAP, CCSA, CRMA. “A Competency Framework, uniquely developed by The IIA and geared toward advancing the profession and the individual, with tools that assess professional strengths and development needs, not only strengthens our footing in the International Professional Practices Framework (IPPF) and the Standards, but positions internal auditors for what lies ahead.”

With attention to three levels of competency – general awareness, applied knowledge, and expert – the Framework allows users to assess where they stand in various knowledge areas, then identify the Standards and guidance, training and educational resources, targeted content, and more based on four distinct tracks, or disciplines:

  • Professionalism – These are competencies required to demonstrate authority, credibility, and ethical conduct essential to effective internal audit.
  • Performance – From knowledge in organizational governance and risk management to internal control, fieldwork, and outcomes, these competencies are aimed toward planning and performing internal audit engagements in conformance with the Standards.
  • Environment – A prerequisite to identifying and addressing risks specific to the industry and the environment in which an organization operates is an understanding of organizational strategic planning, business practices, sustainability and social responsibility, IT, and finance.
  • Leadership & Communications – Leading an internal audit activity or engagement requires an ability to understand and define strategic direction, communicate effectively and build and maintain productive relationships with internal and external stakeholders, and manage and appropriately direct personnel and processes.

 

Survey

To support this major initiative and ensure the tools and other resources are available and relevant to the Framework and its 22 knowledge areas, the Internal Audit Foundation is also launching a global survey on October 5 to assess competency levels of internal audit practitioners. 

Objectives of the survey are to evaluate the current state of internal audit competencies in the field, how those competencies apply to expectations in the workplace and individual performance, the availability of resources and training supporting practitioner advancement, and where gaps must be filled to overcome obstacles to furthering the value of the profession.

The survey will be conducted October 5–26 and can be accessed here.

For more information about the Internal Audit Competency Framework, visit The IIA’s website.

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