The growth of the internal audit profession is more than just numbers

Philna Coetzee, Houdini Fourie and Pricilla A Burnaby

Managerial Auditing Journal, 2015, vol. 30, issue 6/7, 514-538

Abstract: Purpose - – The purpose of this paper is to investigate whether the internal audit quality was maintained in relation to the rapid growth in Institute of Internal Auditors (IIA) membership in South Africa. As The IIA in South Africa (SA) has seen more than double the membership growth (59 per cent) than the IIA (25 per cent) over the period 2006 to 2010, the change in internal audit quality indicators for these two are compared. Design/methodology/approach - – The responses from SA respondents and all “Other” respondents are analysed from the 2006 and 2010 Common Body of Knowledge studies on specific questions addressing internal audit quality, to determine whether there is a growth in quality-related indicators and whether the growth is in relation to the membership growth. The chi-square test is used to look for change in response frequencies. Findings - – The paper finds that the SA respondents have a greater increase of internal audit quality indicators than “Other” respondents, suggesting that the increase in membership could also result in improved internal audit quality. Originality/value - – This study links the increase in membership with improved internal audit quality. This could assist the IIA in determining the feasibility of developing key indicators of internal audit quality. The IIA-SA will obtain an understanding whether the exceptional growth in membership is in line with the internal audit excellence as prescribed by SA guidance and legislation. Last, individual internal audit activities could benchmark their growth statistics against the SA and “Other” respondents’ growth pattern – both in numbers and quality indicators.

Keywords: South Africa; Internal auditing; IIA membership growth; Internal audit quality (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:eme:majpps:maj-10-2014-1122

DOI: 10.1108/MAJ-10-2014-1122

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