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Internal Auditor Competency Framework July 2010 COPYRIGHT The Institute of Internal Auditors Australia 2010 All rights are reserved. No part of this work may be reproduced or copied in any form or
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How to fill out internal auditor competency framework
01
Familiarize yourself with the internal auditor competency framework: The first step to filling out the internal auditor competency framework is to thoroughly read and understand the framework itself. Familiarize yourself with the purpose, structure, and requirements outlined in the framework. This will provide you with a solid foundation on which to build your competency assessment.
02
Identify the relevant competencies: Once you have a good understanding of the framework, identify the specific competencies that are applicable to your role or organization. Different organizations may have variations in the competencies required for internal auditors. It is essential to identify the competencies that are most relevant to your specific context.
03
Assess your current skills and knowledge: Once you have identified the relevant competencies, assess your own skills and knowledge in each area. This can be done through self-reflection, performance appraisals, or feedback from peers and supervisors. Be honest and objective in this assessment, as it will help you identify areas where you may need to improve or seek additional training.
04
Identify areas for development: Based on your self-assessment, identify the areas where you need to further develop your skills or knowledge. This could involve taking training courses, attending workshops or conferences, seeking mentorship, or engaging in self-study. It is important to prioritize these areas for development based on their importance and urgency.
05
Develop a competency development plan: Once you have identified the areas for development, create a plan outlining how you will enhance your skills and knowledge in each competency. Set specific goals, determine the steps you need to take to achieve those goals, and establish a timeline for completion. This plan will serve as a roadmap for your competency development journey.
06
Implement your competency development plan: Now it's time to put your plan into action. Start taking the necessary steps to develop the competencies identified in your plan. This may involve enrolling in courses, seeking mentorship or coaching, attending relevant conferences or webinars, or engaging in self-study and practice. Be proactive in seeking opportunities to learn and grow in each competency area.
07
Regularly assess and update your competencies: Competencies are not static; they evolve over time. Regularly assess your progress in developing each competency and update your competency development plan accordingly. Seek feedback from supervisors, peers, and other stakeholders to gauge your growth and identify areas for further improvement.
Who needs internal auditor competency framework?
01
Organizations: Organizations of all sizes and types benefit from having an internal auditor competency framework. It helps establish a standardized approach to assessing and developing the skills and knowledge of internal auditors within the organization. This ensures that internal auditors are equipped to effectively carry out their roles and responsibilities.
02
Internal auditors: Internal auditors themselves greatly benefit from having a competency framework. It provides them with a clear understanding of the competencies required for their roles and helps them identify areas for development. The framework serves as a guide for their professional growth and enables them to enhance their expertise and effectiveness in delivering value-added internal audit services.
03
Regulators and stakeholders: Regulators and stakeholders, such as audit committees, government agencies, and shareholders, also benefit from the existence of an internal auditor competency framework. It provides them with assurance that internal auditors possess the necessary skills and knowledge to carry out their responsibilities effectively. The framework helps establish confidence in the internal audit function and enhances the credibility and reliability of internal audit reports and recommendations.
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What is internal auditor competency framework?
Internal auditor competency framework sets out the required skills, knowledge, and experience for internal auditors.
Who is required to file internal auditor competency framework?
Internal auditors and organizations employing internal auditors are required to file the competency framework.
How to fill out internal auditor competency framework?
The competency framework can be filled out by documenting the relevant skills, knowledge, and experience possessed by the internal auditor.
What is the purpose of internal auditor competency framework?
The purpose of the competency framework is to ensure that internal auditors have the necessary qualifications to perform their roles effectively.
What information must be reported on internal auditor competency framework?
The competency framework must include details on the internal auditor's qualifications, certifications, training, and experience.
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