What new competencies are required by the updated Standards?

Standard 3.1 Competency of the Global Internal Audit Standards states, “Internal auditors must possess or obtain the competencies to perform their responsibilities successfully. The required competencies include the knowledge, skills, and abilities suitable for

one’s job position and responsibilities commensurate with their level of experience. Internal auditors must possess or develop knowledge of The IIA’s Global Internal Audit Standards.

“Internal auditors must engage only in those services for which they have or can attain the necessary competencies.

“Each internal auditor is responsible for continually developing and applying the competencies necessary to fulfill their professional responsibilities. Additionally, the chief audit executive must

ensure that the internal audit function collectively possesses the competencies to perform the internal audit services described in the internal audit charter or must obtain the necessary competencies. (See also Standards 7.2 Chief Audit Executive Qualifications and 10.2 Human Resources Management.)”