Resource challenges are growing because of many firms entering the outsourcing and co-sourcing business. We know what it means to meet the needs of management committees, to be effective in dealing with process issues, and to be in-house consultants. Phelps, who considers diversity an important ingredient in a well-rounded IA function, chooses to replenish his staff with experienced auditors and a complement of new graduates. The difference is the management paradigm you create. The traditional public accounting firm structure, which many IA organizations mirror, is like a pyramid, with many levels for training.
Auditors move up the pyramid and take on management roles.
But that structure isn't effective in IA because of the turnover. Off campus hires are short term, on average just two to four years. I find that professionals who are experienced can deal with management level issues, while less experienced staff aren't always capable of that. We have experienced professionals in the heart and soul of our department and this flattening of the hierarchy means we need far less internal communication and less training. More of our time can be spent partnering with external clients.