• 30 May 2012

State of Internal Audit Survey 2012

Results show adequate skilled resources required to meet growing demands and challenges.

Caption|REUTERS/Asmaa WaguihThomson Reuters recently surveyed over 1,500 global internal audit practitioners to canvass their views on the state of internal audit and their greatest challenges for the year ahead. The results reflect an evolving professional discipline that is focused on internal control, IT risk and security, risk management, compliance and fraud.

Read the special results report for insight on current trends and issues facing the internal audit profession.

Audit committee chairs and executive management alike need to understand and address the increasing scope and strain on internal audit. A vital factor in easing the pressure on the internal audit function is the provision of adequate skilled resources to meet the growing demands and challenges. The often under-valued task of internal audit can be made substantially easier where senior managers visibly and vocally demonstrate support for the internal audit function and promote a culture of sound corporate governance.

The responses received covered Europe, the Americas, Australasia, Asia, Africa and the Middle East. They represent firms from across a wide set of industries including financial services, manufacturing, government, education, life sciences, energy and other highly regulated industries. Feedback came from internal audit departments of all sizes, ranging from those whose departments were comprised of less than five auditors to global conglomerates with departments exceeding 100 auditors.

It is clear from both the number of respondents and the details of the information received that internal audit professionals from all industries are faced with an evolving and diverse job, expanding job duties, and challenges with internal and external changes.