Critical demand for data analytics, cybersecurity, and artificial intelligence skills.
By CPA Trendlines Research
Internships could play a pivotal role in addressing the talent needs of the profession, according to a new study.
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With 74 percent of internships designed to lead to permanent employment, these programs are not just supplemental but foundational to preparing students for professional roles.
Still, only 28 percent of college programs make internships integral to the curriculum.
However, according to the 2024 Student Talent Pipeline Report by The Institute of Internal Auditors, educational institutions that actively integrate internships see notably higher rates of successful placements.
Addressing the Skills Gap through Diverse Recruitment
While the internal audit field has traditionally favored accounting graduates, the report identifies a critical demand for data analytics, cybersecurity, and artificial intelligence skills. Recognizing the importance of diversity in skills and backgrounds, expanding recruitment to include fields such as information technology and business management is essential for addressing the evolving technological landscape and non-financial risks.
The report illuminates the imminent retirement of a significant portion of the workforce and the transformative impact of technology on internal audit roles. It calls for strategic adjustments in hiring and training practices to align with the expectations of newer generations and digital transformation requirements.
The findings advocate for strengthened connections between academia and industry, urging educators and hiring managers to enhance internship programs and broaden recruitment criteria. This approach aims to cultivate a workforce that is not only technically proficient but also versatile and adaptable to rapid changes.
The 2024 Student Talent Pipeline Report underscores the urgency of innovative strategies to cultivate a robust internal audit workforce capable of meeting future challenges. By prioritizing comprehensive internship experiences and embracing a broader educational focus, the industry can ensure it remains resilient and forward-thinking.
