Institute Chief Executive, Dr Ian Peters, has warned that Boards and Audit Committees must be watchful of resourcing of their internal audit functions as pressures to manage costs continue.

Peters was responding to the results of a recent survey suggesting that internal audit resources are under real pressure. In an interview with Accountancy Age TV, Peters said that whilst anecdotal evidence suggested that internal audit teams were weathering the recession relatively well, the breadth of scope of internal audit was increasing and this as much as anything is putting pressure on internal audit resources.