[PDF] internal audit kpi examples

What are the two types of KPIs in internal audit?

Within internal audit, there are two main types of KPIs: execution and value. Most of the KPIs tracked by internal audit measure execution and completion rates. Percentage of the audit plan completed. Count of issues found and recommendations made. Percentage of recommendations implemented on time. Hours spent per audit.

Why do we find it so difficult to measure internal audit performance?

Why do we find it so difficult to measure the performance of internal audit? EQAs frequently report that key performance indicators (KPIs) are narrow and focussed on simple execution-based metrics, generally relating to completion of the audit plan within budget.

What are internal audit performance indicators?

Performance indicators of an internal audit department are seen as means of measuring the extent to which it meets its objectives. These objectives are focused on audit specific (i.e. internal) issues but also linked to organization wide (i.e. external) issues. The following clear principles apply to internal audit department KPIs:

What are key performance indicators (KPIs)?

Key performance indicators (KPIs) are quantifiable measurements that demonstrate the effectiveness of an individual, department, or organization in achieving key goals. Clearly defining goals and tracking meaningful KPIs can provide valuable evidence to show that internal audit’s activities are supporting the business’s strategic objectives.