Despite all the books, articles, training, and guidance available from The IIA, not everyone in internal audit is a superstar. In most audit departments, some individuals are great examples of what not to do. They may be ineffective as leaders, have weak technical skills, or poor soft skills. Let’s look deeper into the habits that make them less than stellar.
1. Audit like it’s 1999
Every year some surveys capture the perceived value of internal audit within an organization. These surveys usually include board member opinions that the majority of their internal audit departments need to make some pretty significant improvements. When we know that these improvements must be made, this should move all of us to stay current with the profession. Unfortunately, many departments are still auditing the way they did over 15 years ago. Audit leadership must drive this change, but ultimately it is each auditor’s responsibility to stay current with business, industry, and audit trends. We are no longer checklist auditors or the compliance police. Auditors should be risk-focused and be applying the latest tools and techniques to our audit process.
2. Skip the certifications
The IIA and other professional groups for auditors offer conferences, seminars, books, magazine articles, and even free webinars. All of this information is meant to provide us with a means for continuous education. Ongoing education is required for those of us with certifications. Unfortunately, the majority of those practicing internal audit today are not certified and therefore do not keep up with industry trends.
3. Ignore the new hires
Most departments promote based on tenure and attrition. Audit managers may end up in their positions with no training in soft skills. The people who suffer the most are the staff auditors who need guidance and attention. Managers may blow them off saying “they won’t be “career” auditors anyway.”