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Audit survey reveals technical and process concerns

by Scott Priest, Editorial Director

April 14, 2010

Protiviti's report for its 2010 Internal Audit Capabilities and Needs Survey is out, and shows some interesting results as to where companies view themselves in terms of their internal audit knowledge.

I encourage you to look over the full report for an explanation of their methods and full scores, but I wanted to highlight a couple of points.

Respondents appeared to feel they last less technical knowledge than process knowledge. For example, in the general technical knowledge question, the top 5 responses were general assessment of IT (GAIT) risk, IFRS, XBRL, ISO 27000 (information security), and COBIT. On a scale of 1-5 in technical acumen, respondents rated themselves between 2.1 (XBRL) and 2.7 (COBIT). Not a lot of confidence there.

For processes, though, the answers were nearly a point higher on average: from auditing IT -- program development (3.1) to statistical analysis, data manipulation, and quality assurance and improvement (all 3.3).

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