In a fast-evolving risk and control environment, how can internal audit leaders measure and elevate their team’s capabilities in a way that’s both practical and impactful?
In July, the Institute of Internal Auditors (IIA) released the “Internal Auditing Competency Framework – Global Practice Guide.” This tool offers a structured approach to evaluating the core skills and attributes required in the internal audit profession.
But to turn this guidance into real results, we need more than awareness, we need implementation.
Turning Frameworks into Action
I believe in practical, cost-effective solutions. That’s why I’ve adopted a hands-on approach using a dynamic competency matrix to bring the IIA framework to life.
The process begins with each team member conducting a self-assessment of their own competencies. This creates space for honest reflection and personal accountability.
Following that, a structured one-on-one discussion with their manager allows for calibration, feedback, and confirmation of proficiency across core areas.
This step is critical, not just for validation, but for creating shared understanding between team member and leader.
Tailor the Matrix to Fit Your Organisation
The key to making this matrix effective lies in customization.
Every audit function operates within a unique business context. That means the competency categories and weightings must be tailored to your organization’s strategic priorities, operating model, and team composition. This ensures the matrix doesn’t become a theoretical exercise but a relevant, living tool.
When implemented this way, the matrix becomes a clear and measurable roadmap for both current capability and future needs.
Strategic Benefits Beyond Skills Assessment
The impact of a well-executed competency matrix goes far beyond identifying gaps.
It allows for the development of targeted training and upskilling programs, reducing wasted spending on irrelevant development.
It also becomes a strategic asset for succession planning and capability building, especially when future demands shift with the business landscape.
Perhaps most importantly, it provides team members with a transparent, structured view of how they can grow within the organization. It creates clarity around what success looks like, how to reach it, and what support is available along the way.
In essence, it’s about building a valuable portfolio of strengths, one that not only supports team performance but also compounds value across the wider business.