Factor Structure of the Competency Framework for Internal Auditing (CFIA) Skills for Entering Level Internal Auditors

Inshik Seol, Joseph Sarkis and Frank Lefley

International Journal of Auditing, Vol. 15, No. 3, 217-230, 2011.

Recently, the Institute of Internal Auditors (IIA) published a framework that summarized a listing of competency standards, Competency Framework for Internal Auditing (CFIA) (Birkett et al. 1999), and discusses the attributes required by all internal auditors to endure a high level of professional competence. One of the biggest concerns in the application of the framework is the onerous number of potential factors to consider. In this paper, using factor analysis, we attempted to reduce the number of skills while maintaining the overall significance of the original framework. This study is a contribution to both academic research and practitioner application. For the former, researchers can revisit the internal auditor selection models previously developed and reformulate, if necessary, and apply those models to more empirical research using the reduced number of factors discussed in this paper. For the latter, organizations can further streamline their decision processes by utilizing a more focused set of factors for internal auditing personnel selection.

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