Internal Audit Quality

Appendix CList of Key Performance Indicators

Quality Indicators

Quality Assurance and Improvement Program

• Quality assurance and improvement program implemented

Internal Assessment

• Periodic assessments and/or health checks performed on a biannual basis
• All policies and procedures covered through health checks
• Conformance with policies and procedures
• Professional standards covered through health checks
• Conformance with professional standards
• Numbers of improvements embedded (include target)
• Proportion of engagement working papers reviewed through health checks (include target)
• Level of management satisfaction (include target)
• Level of audit committee satisfaction (include target)

External Assessment

• External assessment undertaken at least once every five years

Strategy and Planning Indicators

• Annual review of the internal audit strategy
• Endorsement of the strategy by the audit committee
• Endorsement of the internal audit values by the audit committee
• Level of management satisfaction with strategy (include target)
• Level of audit committee satisfaction with strategy (include target)
• Internal audit risk assessments conducted annually
• Capability and resource planning undertaken annually
• Business continuity planning undertaken annually

Areas of Responsibility Indicators

• Total number of engagements completed by the internal audit function (include target)
• Time spent on functional engagements, program-based engagements, and integrated auditing (include target)
• Number of assurance ...