Final answer:
The organization itself, particularly the Chief Audit Executive (CAE) or the Audit Committee, is responsible for determining the appropriate levels of education and experience for the internal audit staff.
Step-by-step explanation:
For an internal audit staff, the responsibility of determining the appropriate levels of education and experience lies with the organization itself. This decision is typically made by the Chief Audit Executive (CAE) or the Audit Committee of the organization.
The CAE or the Audit Committee will consider various factors such as the complexity of the organization's operations, the industry it operates in, and any regulatory requirements. They may also refer to professional standards and guidelines, such as those provided by The Institute of Internal Auditors (IIA), to help determine the necessary qualifications. The CAE should assess the complexity and volume of the organization's operations, the specific skills needed to cover all relevant risks, and create job profiles that reflect these requirements. Continuous professional development initiatives are also a key responsibility of the CAE to maintain and enhance the capabilities of the internal audit staff.
The qualifications needed for an internal audit staff could include a relevant college degree in accounting, finance, or a related field, as well as professional certifications such as Certified Internal Auditor (CIA) or Certified Public Accountant (CPA). Experience in auditing or related fields may also be required.