When developing an internal auditing department, the best approach is to hire:

When developing an internal auditing department, the best approach is to hire:

• A. Internal auditors who collectively have the knowledge and skills needed to complete all internal audit assignments.
• B. Internal auditors each of whom possesses all the skills required to handle all audit assignments.
• C. Degreed accountants since most audit work is accounting related.
• D. Inexperienced personnel and train them the way the company wants them trained.

Answer: (A)

Building an internal auditing function works best when the team has a diverse mix of knowledge and experience that collectively covers every type of audit the department will face. No single auditor can master all possible areas—financial controls, IT systems, operations, compliance, data analytics, and fraud detection require different skill sets. Hiring internal auditors who together possess the breadth needed ensures complete coverage of the audit universe, depth in each domain, and the ability to assign engagements to the right specialists while maintaining objectivity and independence. This approach also supports efficiency and quality. With a team that brings complementary strengths, the department can draw on appropriate expertise without overburdening any one person, and it can respond more quickly to emerging risks. Training inexperienced staff alone would slow work, create gaps in critical areas, and undermine credibility. Degreed accountants can be valuable, but most audit work today spans more than accounting basics, so relying on accounting credentials alone is too limiting. Having everyone possess every skill is unrealistic, which is why a collectively competent team is the best path.

Building an internal auditing function works best when the team has a diverse mix of knowledge and experience that collectively covers every type of audit the department will face. No single auditor can master all possible areas—financial controls, IT systems, operations, compliance, data analytics, and fraud detection require different skill sets. Hiring internal auditors who together possess the breadth needed ensures complete coverage of the audit universe, depth in each domain, and the ability to assign engagements to the right specialists while maintaining objectivity and independence.

This approach also supports efficiency and quality. With a team that brings complementary strengths, the department can draw on appropriate expertise without overburdening any one person, and it can respond more quickly to emerging risks. Training inexperienced staff alone would slow work, create gaps in critical areas, and undermine credibility.

Degreed accountants can be valuable, but most audit work today spans more than accounting basics, so relying on accounting credentials alone is too limiting. Having everyone possess every skill is unrealistic, which is why a collectively competent team is the best path.