Talent shortages are impacting a variety of professions, and the internal audit field is among them. You can blame it on a tight labor market or the unique set of skills the profession requires, but that won’t change the demand for growth within internal audit departments.
According to the 2019 Internal Audit Priorities Report, internal audit leaders shared that their departments have increased headcount in the last several years. With adequate resources and the ability to grow their team, audit leaders today are in a prime position to succeed, but they must ensure that they’re identifying the right talent required to continue adding value to the business.
“Sourcing talent right now is a tremendous challenge given the shortage in the workforce,” says David Cook, managing director of internal audit at Robert W. Baird. “What we’ve done at my firm is focused on trying to hire more internal people. The external people are just harder to find.”
In part one of this four-part series on internal audit priorities in 2019, Internal Audit Insights caught up with Cook who shared his thoughts and advice on how audit leaders today can realign their resources effectively.