IIA-Australia Factsheet - Internal Audit Performance Measures

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Author	IIA-Australia
Date	2023
Topics Explored	Internal Audit
Format	Factsheet
Extract/Description	Good practice in internal auditing suggests that, like most organisation business units, internal audit should have performance measures in place to demonstrate its level of performance. Internal audit should be held to account for its performance and to ensure it is delivering a value-adding and cost-effective internal audit service.
Key Points	Use a relatively small number of performance measures to target what really counts. Use a balance of quantitative and qualitative performance measures to allow for hard data assessment and consideration of perceptions via feedback. Internal audit performance measure results should be reported to the audit committee and senior management.
Relevant Industries	All
Level of Assumed Knowledge	Intermediate