Internal audit competencies : skills requirements for internal audit staff in South Africa

Abstract

The need for competent internal audit staff in South Africa is increasing significantly. Skills development initiatives are high on the agenda of the internal audit profession globally. Prior research has addressed competencies in various professional disciplines, as well as general competencies for internal auditors, but little research has been done to determine the perceived levels of importance of the competency requirements specifically for internal audit staff. This study aims to expand this knowledge area, first by identifying the levels of importance accorded to the various competencies, as presented in formal professional guidance. Thereafter, these required levels of competencies for internal audit staff are compared with the perceived levels of importance ascribed to them by South African and global internal audit leaders. The study found that there are inconsistencies in the categorisation of competencies and skills in the officially published internal audit guidance. Despite this, the views of South African leaders do not differ significantly from their global counterparts, although it appears that the overall level of perceived importance held by those in internal audit practice is higher than that in the published internal audit guidance. It is recommended that the IIA standardise, align and revise its guidance on required competencies and skills. THIS ARTICLE SHOULD BE READ IN CONJUNCTION WITH THE FOLLOWING TWO ARTICLES IN THIS SPECIAL EDITION: Internal audit competencies: skills requirements for internal audit management in South Africa, by Fourie et al. Internal audit competencies: skills requirements for chief audit executives in South Africa, by Coetzee et al.