What challenges do internal auditors face?

Building trust with staff in units being audited can be a challenge. Some employees may view auditors as a threat to their jobs or their position in the organization. Auditors who encounter this viewpoint often struggle to obtain critical information and may never learn of pain points and underlying issues that impact the success of the enterprise.

In addition, the role of the internal auditor is constantly evolving. Internal audit is often tasked with providing both assurance and advisory services, and the expectations of executive leadership continue to increase. To be effective, an internal audit function needs team members with a variety of skillsets and expertise in areas such as accounting, finance, information technology, research compliance, data analytics, business operations and other specialized areas.
 

Futhermore, internal auditors must be able to work under the pressure caused by a managing a heavy workload, dealing with highly sensitive matters, communicating with the highest levels of the organization, and the constant need to enhance their skills and knowledge. The continuous introduction of new technologies adds another layer of complexity. While these tools can assist internal audit in performing its duties and increasing its coverage of the enterprise, auditors must spend significant time gaining and retaining proficiency in their use.

Why is EQ the antidote?

The five critical elements of emotional intelligence can help internal auditors face these challenges.  Encouraging and practicing the use of EQ can improve:

1. Self-awareness. Internal auditors should be able to recognize their moods and have strategies for either taking advantage of, or compensating for, those moods to ensure they do not negatively affect work quality or performance. A self-assessment can help auditors become more aware of their moods and the related impact on their work. Regardless of the situation, a team with self-awareness will be better able to handle pressure.

2. Empathy. This element of EQ enables a person to understand others' emotions, which can help in reaching consensus during a disagreement. Often, the challenge of establishing trust can be lessened by understanding the reasons other people may be anxious during an audit. Empathetic auditors can adjust their approach or communication style to put other employees at ease.

3. Internal Motivation. Auditors who are internally motivated will take the initiative to learn from each audit and apply those lessons to future projects. In addition, they will seek out best practices and find ways to apply them to their audit toolkit. For example, if new technology is creating excitement in the internal audit profession or the ACUA community, motivated staff will be eager to learn the skills needed to use the new technology for the betterment of their audit department and university. 

4. Self-regulation. Internal auditors must continuously identify and regulate their emotions to avoid any negative impact on audit work. For example, when working with uncooperative clients, auditors must manage their feelings and not respond with anger. Focusing on the larger mission and objectives rather than on personal feelings can help auditors self-regulate.

5. Social skills. Social skills enable auditors to relate to and communicate well with others. Internal auditors must work with people at all levels of the organization, and the response they receive depends heavily on the impression they make. Strong social skills help to develop positive relationships, enabling auditors to be more effective and efficient in their work.

Combining the Scholar and Practitioner approach through EQ