View from the institute: Professional values
Continuous development is one of the tenets of professionalism. Lawyers do it, accountants do it – and internal auditors do it. Those who don’t continue to learn, develop and grow in their roles will quickly fall behind as the world changes beneath their feet. This is why it is a requirement of the both the CIA, awarded by Global, and Chartered status, which is awarded by the institute through its Royal Charter, that our members complete annual records to prove that they are doing sufficient continuing professional education (CPE) activities across the year.
It is also why those who do not complete their CPE records, or who do not gain the required CPE points, will, in time, lose their CIA or Chartered designations. However, anyone who does the bare minimum just to maintain their status is missing the point (as well as a valuable opportunity). Continuous development is essential for internal audit teams to deliver best value to their organisations. So much is changing in every aspect of business, politics and society in every region that anyone who fails to keep up will become obsolete.
Recording CPE is a great opportunity to think about the skills you need to improve what you do and what you offer professionally, and to take stock of what you have achieved and think about what you could do better in future. Time to reflect is precious and looking back over the past 12 months to identify what you have already done can be rewarding and illuminating.
This is one reason why people who have entered the Audit & Risk Awards frequently say that the process of writing the nomination is a valuable exercise in itself. Winning the award would be the cherry on the cake. We celebrated this year’s winners’ huge achievements at our Awards event last month, but every individual and team who entered the awards had something to celebrate.
Reflecting on your achievements and condensing these to a coherent story on a nomination form records a journey and creates evidence that can be used to reward and encourage everyone involved and to inform others across the business more widely. As with CPE, recognition of past achievements can be an incentive and a guide to future progress. No one can rest on their laurels, but it’s important to acknowledge and praise past good work.
It can sometimes feel that there is a treadmill to continual learning, but that may mean that you are not looking at the right things. Motivation and reward are more powerful drivers than rules and regulations – and moving beyond your comfort zone is hard. Everyone needs encouragement and everyone needs support.
Being part of a profession means that you are not alone in the challenges you take on – someone else will be facing the same issues, or may even have found a solution. This is where the institute can help. By providing resources such as the Internal Audit Conference, regional events, training courses, forums, technical guidance and working groups, we can connect members with others who can inspire, advise and help them to tackle new things.
The institute must also continue to guide the development of the profession. This is why IIA Global has introduced the new Global Internal Audit Standards and why the Chartered IIA is currently combining its Internal Audit Codes of Practice into a single enhanced, combined code for all sectors.
Raising the bar for the whole profession and updating requirements to help everyone take their work to the next level will, in turn, improve the reputation of the profession and encourage others to join it. It creates a virtuous circle in which CPE requirements and the new Standards and Code of Practice are part of the same positive continuum.
As we head into the second half of the year, I urge all our members to think about what they want to achieve in their CPE. It’s worth remembering that attending (physically or virtually) the annual Internal Audit Conference provides opportunities to learn, which is why delegates can claim up to 42 CPE points if they attend both days.
I also urge those in senior internal audit roles to consider gaining Chartered status, as well as encouraging everyone in their teams to gain CIA accreditation and develop their own careers. This sets an example and demonstrates a further commitment to professionalism – while opportunities for professional development will attract others to become internal auditors. A professional reputation pays dividends in every area, so help us to keep that wheel turning.
This article was published in July 2024.