How Mature is your Internal Audit Team?
Anu Sood asks just how mature is your organisation’s Internal Audit team?
The IIA Research Foundation has recently released a global benchmark report that examines the maturity of internal audit departments. Benchmarking the maturity of internal audit departments helps build strategies to develop these departments and reach desired audit-quality levels. The report discusses the following key indicators:
1. Alignment of internal audit with the organisation’s strategic plan.
2. Risk assessment.
3. Internal audit competence.
4. Internal audit planning.
5. Audit procedures.
6. Use of technology.
7. Quality assurance and improvement program (QAIP).