Therefore, auditors should have a wide range of business knowledge, demonstrated through years of audit and industry-specific experience, educational background, professional certifications, training programs, committee participation, professional associations, and job rotational assignments.

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Staffing is a problem because there is a fixed number of people industry-wide who have the quantitative and business knowledge to be able to work in these areas.

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Academics have a habit of crawling along the frontiers of knowledge with a magnifying glass, blind to the wide vistas opening up before them, and often reducing the most engaging subjects to tedious debates about methodology.

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