Before the Sarbanes-Oxley Act of 2002 -- the government's response to the infamous years of Enron, WorldCom and Adelphia -- the internal audit function focused largely on financial reporting and compliance. "It wasn't surprising," says Paul Sobel, chief audit executive with Georgia-Pacific and an Institute of Internal Auditors director and executive committee member. While internal auditors can offer a range of skills, he says, they "are known to be well-versed in financial controls and reporting."
But while those skills remain critical, several other issues are rising in importance these days, shifting the focus of many internal auditors' responsibilities, and requiring some slightly different abilities. Those are the findings of a report by the IIA's Research Foundation, based on input from more than 13,500 survey participants in 107 countries.
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