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How to Solve the Internal Audit Talent Gap?

by Nathan Zachary
internal audit financial services

Resolving the rising internal audit gap requires a clear-cut strategy. Below, we list some of the result-yielding activities adopted by internal audit financial services.

Upgrade your talent acquisition game

While they enhance their talent acquisition strategies, internal audit financial services should take into account the company’s complicated profile. They can also look at the skill sets the job demands. To ensure the constituency needs are met and resolved, the talent acquisition strategy should maintain a certain cooperation. This is done between human resources, internal audit, and business units. The internal audit advisory services should also make an effort to analyze the skills gap. This will help identify the talent needs and facilitate the means to attract the right talent. During the talent hunt, stakeholders can also become part of the interview process. Here, skills such as critical thinking and leadership could be given more prominence.

Spend time on mentoring and development

Best audit companies in Kuwait are investing in offering innovative mentoring programs. They aim to address the risking development skills the new talents require. Some of the best education approaches employed by internal audit consulting services include rotational programs, apprentice models, and executive coaching. These programs aim to shed light on business risks and strategies. It opens up doors for incorporating specialized knowledge into various business departments. They also shed light on administering staff appreciation and informal feedback.

The need for a proper sourcing strategy

Top audit companies in Kuwait are engaging in innovative activities to manage their risk landscapes effectively. Strategic sourcing helps them achieve this cost-efficiently. These departments fulfill a lot of functionalities including taking care of staff shortages. They offer assistance in finding the right subject matter experts and accelerate staff development, and even curate innovative audit capabilities. These services also allow for the expansion of geographic reach, building cost-effective delivery models, and more.

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