Competencies as Determinants of Employability of FEU IA Students ( Undergraduates and Graduates )

Bac ground of t!e Study "!roug! t!e years t!e Far Eastern Uni#ersity ( FEU ) !as been in t!e forefront of producing $ualified indi#iduals t!at %or ed and ser#ed in t!e de#elopment of our country may it be in t!e pri#ate and public sectors or in t!eir o%n personal capacity& "!e products of FEU !as ser#ed as t!e bac bone of our de#eloping economy' may it be in t!e field of science' art' engineering and business& FEU !as continuously and consistently producing top board passers all t!ese years& Indi#iduals %!ose competence in t!eir respecti#e fields are %ort! emulating and could not be $uestioned& (ecently' one of t!e institutes of t!e Far Eastern Uni#ersity' t!e Institute of Accounts' Business and Finance ( IABF ) !as started to offer a ne% degree on Internal Audit ( IA )& A degree t!at could be pi#otal for t!e gro%t! of t!e country in general and t!e FEU in particular since t!e said discipline !as already been %ell establis!ed in ot!er countries particularly in t!e United States and most European countries& "!e financial scandals in particularly in t!e corporate America and t!e dropped of stoc mar ets !as gi#en birt! to t!e importance of Internal Audit& It !ad pro#o e t!e U&S& Congress to gi#e a free rein to its most s%eeping regulatory and corporate reform legislation since t!e Securities Acts of )*++ and )*+, in order to restore t!e trust and confidence of t!e people on t!e mar et& -n t!e forefront of t!is c!anges' t!e responsibility fell on t!e people %!o perform t!e function of internal auditing& "!us' many belie#ed t!at t!e function of t!e internal audit is #ery important especially of t!at of t!e C!ief Audit E.ecuti#e ( CAE ) as a integral components to t!e solution on a percei#ed brea do%n in t!e systems of business reporting' internal control and et!ical be!a#ior& Internal Auditing as been defined by t!e Institute of Internal Auditors ( IIA )' stated t!at it is an independent' ob/ecti#e assurance and consulting acti#ity designed to add #alue and to impro#e an organi0ation1s operations& Internal Audit' in addition' !elped an organi0ation accomplis! its ob/ecti#es by bringing systematic and disciplined approac! to e#aluate and impro#e t!e effecti#eness of ris management' control and go#ernance process& 2it! t!e increased demand for internal auditors from t!ese countries' t!e profession started to build up t!at led to t!e emergence of ne% /ob opportunities& 3ig! performance internal auditing demanded broad perspecti#e and capabilities& 4eading internal audit organi0ation today %ere no longer limited to !a0ard a#oidance and compliance& "!ey need to demonstrate a command of ris management' business process impro#ement and no%ledge t!at %ere more of a c!aracteristics of a consultants t!an t!at of a classic internal auditor& Furt!er' internal auditors %ere no longer re$uired to focus solely on financial audits as t!ey increasingly need to pro#ide #alue5added support to t!e management across all areas of operation& From t!eir pre#ious role of pro#iding appraisal' e.amination' analysis and e#aluation of t!e ser#ices' acti#ities and information of t!e organi0ation' no% came t!e more comple. role of internal auditors t!at no% include assurance and consulting ser#ices' fraud detection' internal control assessment and information tec!nology go#ernance& "!ese %ere all in order to add more #alue to t!e organi0ation' impro#e its o#erall operation and !elp accomplis! t!e organi0ation6s ob/ecti#es& 2it! t!at in mind' t!at6s probably t!e reason %!y FEU !as started to offer a ne% degree on Internal Audit under t!e Institute of Accounts' Business and Finance& In so far' since FEU is on t!e forefront of t!is de#elopment in t!e academic field' t!ey remained t!e only uni#ersity in our country t!at offered suc!& 2it! ne% discipline to con$uer' it opened a ne% #enue for its students to master for t!eir personal and career gro%t!& Barely fi#e years from its e.istence' t!is study %ould li e to no% t!e competencies of t!e degree Internal Audit in terms of employability of t!ose students %!o !ad already graduated from t!e said field&