Report: Internal auditors not confident about strategic, compliance risk

Top management and boards increasingly want auditors skilled in strategic and compliance risk. Unfortunately, auditors' skills don't always match up, according to a report by the Institute of Internal Auditors. About 70% of respondents see strategic risk as a top priority, yet only 4% of audit resources will be devoted to it during the next year, partly because "internal auditors don't have the confidence that's an area they have expertise in," IIA President and CEO Richard Chambers said.

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