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This paper researches the role of IT auditors in conducting the internal audit activities (IIA) and the competencies of IT auditors and other audit staff in supporting those activities in internal audit departments. The internal audit function must be able to deliver a value for money service to management of the company. In an era when competitive advantage and cost reduction are critical, full advantage must be taken of technology. Therefore, the role of IT auditors has become very important in supporting the internal audit activities (IIA). Also, IT auditing supports many types of internal auditing in companies because today it is not possible to conduct auditing processes without IT support (e.g. CAAT tools and techniques). Research was conducted on three electrical industry companies (ESB-Electricity Supply Board from Ireland, IEC-Israel Electric Corporation and HEP-Croatian Electricity Company) in relation to roles and competencies. Also, this paper compares these same results with the ECIIA Common Body of Knowledge (CBOK) study of staffing, skills, competencies and the role of internal audit activities (IAA).