(Practice Guide) Measuring Internal Audit Effectiveness and Efficiency - Download PDF

  • Item No. : 1078.dl
  • Publisher : The Institute of Internal Auditors
  • Publish Date : December 2010
  • Authors : Gregory S. Dubis, CIA, CCSA
    Princy Jain, CIA, CCSA
    Amipal Manchanda
    Rita Thakkar, CIA
  • Media : Download
  • Page count : 19
  • Member Price : $0.00
  • Non-Member Price : $24.99

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Practice Guides provide detailed guidance for conducting internal audit activities. They include detailed processes and procedures, such as tools and techniques, programs, and step-by-step approaches, as well as examples of deliverables. Practice Guides are part of The IIA's International Professional Practices Framework. As part of the Strongly Recommended category of guidance, compliance is not mandatory, but it is strongly recommended and the guidance is endorsed by The IIA through formal review and approval process.







When effectively managed, internal auditing becomes an important element in helping an organization achieve its objectives. Organizations with internal audit activities are better able to identify business risks and system inefficiencies, take appropriate corrective action, and ultimately support continuous improvement. However, to maintain and enhance internal audit’s credibility, its effectiveness and efficiency must be monitored.

This practice guide helps internal auditors measure their effectiveness and efficiency by providing guidance on establishing a performance measurement process, identifying key performance measures, and monitoring and reporting on the level of customer service provided to internal audit stakeholders.

Sources to consider when identifying key performance effectiveness and efficiency measures of the internal audit activity include The IIA’s International Professional Practices Framework (IPPF), the internal audit charter and mission, applicable laws and regulations, and audit strategies and plans. Effectiveness and efficiency measurements can be both quantitative and qualitative. It is important for the internal audit activity to obtain feedback from key stakeholders on audit effectiveness and make adjustments where needed.