20-01-2011
20-01-2011Effective Sizing of Internal Audit Departments | ||
The Research Foundation of the IIA Recently published a study on the Effective Sizing of Internal Audit Departments The purpose of this research is to develop a conceptual model of internal audit effective-sizing. Not all internal audit departments are the same, nor do they have the same mission within their companies. Therefore, simply comparing the size of one internal audit department with another – even in the same industry and the same relative size of company – can give misleading indications as to the appropriate size of an internal audit department. This study led to development of a conceptual model of internal audit effective-sizing that articulates the key factors that may be tailored to each company’s unique characteristics, mission, personnel, and quality profile. It examines seven critical factors that determine the size of an internal audit department:
This model will help organizations better allocate their resources and reflect better alignment between management and audit committee values for internal audit and the delivery of value added activities. |