Numerous vocal internal audit leaders from around the world are promoting the idea of licensing practitioners as a way to enhance the profession’s stature and proficiency. They profess a licensing requirement would give internal auditors greater credibility and even influence. In fact, a few IIA institutes have even taken up the cause within their respective countries.
I say, be careful what you wish for.
I acknowledge that licensing might come with some benefits, such as creating the appearance of greater parity between internal auditors and their external audit counterparts, such as CPAs, chartered accountants, etc. It is also argued that licensing would enhance internal audit’s ability to deliver assurance that meets rigid standards and regulations that often accompany licensing requirements, thereby elevating the confidence of internal audit’s stakeholders, corporate shareholders, and others.…