A summary of the global Common Body of Knowledge 2006 (CBOK) study in internal auditing

Priscilla Burnaby and Susan Hass

Managerial Auditing Journal, 2009, vol. 24, issue 9, 813-834

Abstract: Purpose - The 2006 global Common Body of Knowledge (CBOK) study is part of an ongoing research program designed to document how internal auditing is practiced. The purpose of this paper is to summarize responses to three global surveys of internal auditors. Design/methodology/approach - Based on literature reviews and a pre‐scope questionnaire, the researchers develop three questionnaires that are answered by internal auditors world wide. Topics in the questionnaires, which are translated from English into 16 languages, include the attributes of an effective internal audit activity (IAA); compliance with The Institute of Internal Auditor (IIA) Standards; internal auditor skills, competencies, and knowledge; internal audit tools and techniques; and emerging roles of the IAA. Findings - The profession of internal auditing is a rich resource for organizations as the IAA monitors the adequacy and effectiveness of management's internal control framework and contributes to the integrity of corporate governance; risk assessment; and financial, operating, and IT systems. Practical implications - The participation of IIA members from 91 countries and 9,366 usable responses provides information about the evolving role of internal auditing as a value‐added activity that helps an organization manage its risks and take advantage of opportunities. The CBOK 2006 database can be used to improve the understanding of the current state of internal auditing practices; anticipate the use of new skills, tools, and technologies; and promote the enhancement of standardization and performance of internal auditing world wide. Originality/value - This paper summarizes information in the most comprehensive database ever to capture a current view of the global state of the internal audit profession.

Keywords: Internal auditing; Auditors; Auditing standards; Databases (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:eme:majpps:02686900910994782

DOI: 10.1108/02686900910994782

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