2. Internal Audit Staff
Perhaps the top challenge for internal audit is the “war for talent.” How can a
department recruit and retain the type of talent that will close gaps in audit coverage,
meet new requirements in the audit plan, and make strategic contributions?
The demand for individuals who bring the triple threat significantly exceeds the supply
and will likely continue to do so in the near and short-term future due to the heavy
emphasis on risk coming from industry, market, and business. Many candidates boast
impressive financial and compliance skills but are deficient in the specialized skills
required to deal with an organization’s developing risk profile. Internal audit must find a
way to attract people who might not have a traditional background in audit and finance
but are business-minded and can solve problems.