The quest for internal audit talent as stakeholders expect more

Today's forward-thinking Chief Audit Executives are modernizing the way they find, hire, develop, and retain talent

 

For internal audit, many factors are converging to magnify both the importance and the challenge of building an effective talent model. Higher stakeholder expectations and increasingly complex risks demand different skill sets from internal audit such as advanced business acumen and expertise in specific technologies, functional areas, or industry regulations. This paper explores leading practices for acquiring, developing, managing, and sourcing internal audit talent. 

 

 

No matter where internal audit falls on the maturity spectrum there are steps audit leaders can take to advance the talent management capability. 

 

 

Talent acquisition

Consider the following:

  • Promote your Internal Audit brand inside and outside the company by using internal and external social media platforms.
  • Widen your net beyond Financial & IT talent.  Acquire diverse talent that matches your risk areas, even with non-traditional backgrounds such as engineers, supply chain professionals or deep industry specialists.

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Mentoring and development

Consider the following:

  • Create a capability model that shows your people what they need to do to succeed in your organization.  Include non-technical attributes such as leadership, executive presence and business acumen.
  • Establish a culture of real-time development with frequent, informal feedback and encourage new habits such as providing feedback after a meeting or deliverable.  

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Sourcing

Consider the following:

  • Think strategically about the entire strategic sourcing value proposition for your organization. Effective internal audit leaders use sourcing for much more than episodic staffing.  
  • Be honest about where your capabilities are strong, and where they are weaker. It may be more effective to access talent when needed through sourcing than through additional hiring.

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Performance management

Consider the following:

  • Use a strategic internal audit assessment to evaluate your department’s performance against your objectives and stakeholder expectations.
  • Invest in modern technologies including audit management systems that integrate with other risk technologies to promote greater awareness and alignment with strategic business risks

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Contact us

Jason Pett
Internal Audit, Compliance & Risk Management Solutions Leader
Tel: +1 (410) 659 3380
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Sean Torcasi
Partner, Internal Audit, Compliance & Risk Management Solutions
Tel: +1 (206) 398 3137
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Michelle Hubble
Internal Audit Solutions Center of Excellence Leader
Tel: +1 (309) 680 3230
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Kevin Basden
Director, Internal Audit, Compliance & Risk Management Solutions
Tel: +1 (267) 271 9508
Email

Contact us

Dean Simone
US, Asia-Pacific, and Americas Cluster Risk Assurance Leader
Tel: +1 (267) 330 2070
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Jason Pett
Internal Audit, Compliance & Risk Management Solutions Leader
Tel: +1 (410) 659 3380
Email

Scott Greenfield
Advanced Risk and Compliance Analytics Solutions Leader
Tel: +1 (646) 471 5383
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Grant Waterfall
Europe, Middle East & Africa Cybersecurity and Privacy Leader
Tel: +1 (646) 471 7779
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Todd Bialick
Trust and Transparency Solutions Leader
Tel: +1 (973) 236 4902
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Julianne Inozemcev
Process Assurance Solutions Leader
Tel: +1 (617) 530 5119
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Bob Clark
Enterprise Systems Solutions Leader
Tel: +1 (267) 330 2497
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