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Internal Audit Needs to Better Measure Performance, IIA Says

Tammy Whitehouse | December 2, 2015

Internal audit departments might better demonstrate the value they bring to public companies if they had a more robust way of measuring their own performance.

That’s the conclusion of a recent report from the Institute of Internal Auditors as it continues to digest the findings of its 2015 global Common Body of Knowledge study. In a global survey of internal audit executives, IIA found two-thirds of audit departments measure their performance by reviewing the percentage of audit plan coverage. Nearly half focus on the timely closure of audit issues, and an equal number focus on the completion of mandated coverage.

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