The role of internal audit has evolved over the years to more than just assurance, and leaders in internal audit need to respond to the new challenges and expectations facing them in the field. As firms recognize the unique value that internal auditors can bring to the company, to meet these demands, internal audit leaders need to find ways to acquire, train, and keep their talent.
Understanding this new wave in internal audit, Bank of America looks to innovate their talent acquisition process to ensure that they can adjust to the responsibilities facing internal audit. The bank is looking for operational skills, as well as technical knowledge and business communications. Using internal audit as a resource for risk mitigation has led internal audit leaders to value data analytics and systems programming skills in their recruits to further develop into forward-looking internal auditors.
