Ideal strong internal auditors team
Strong internal auditors team gather together different skills, ranging from specialized industry and technical knowledge to seasoned business acumen that may include advanced degrees in business administration, finance and law. It is not uncommon for team members to have professional designations from other disciplines beyond accounting. After all, internal audit functions examine all aspects of a business entity which is a key challenge in today’s complex business climate.
One would ask however can existing employees of a company become internal auditors. There is no prohibition against employees of a company becoming joining the in house team however; many companies often host a guest auditor program whereby employees are assigned to the company’s internal audit function for a short duration. They assist in this case on one or more specific internal audit related matters. When transferring existing employees into the internal audit function, it is best to consider the following:
• Does the person have a good employment record? Has the person performed at a high level in his or her current department or function? If not, why is this employee being considered for a transfer to internal audit?
• Does the employee possess:
o Balanced assessment abilities, integrity and trustworthiness
o Relevant operating and functional experience to be effective
o Appropriate educational background to be successful
o Objective attitude and professional skepticism
o Commitment to competency, technical proficiency, continuing education and ethics as set forth in The IIA standards.
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The internal audit function objective