04 Strategic Performance Review for Internal Audit (eng)

——————— Strategic Performance Review for Internal Audit Many organizations are increasingly relying on their internal audit function to help put their key success factors, including workforce effectiveness, business processes efficiency, and strategic positioning, into a meaningful business context. But until it has a clear picture of its own people, processes, and positioning, internal audit’s contribution and, ultimately, its strategic value to the organization can be significantly hampered. The internal audit functions that provide the greatest value to senior management will be those that have a clear picture of their own value and a vision for rapidly increasing it. According to the Standards for the Professional Practice of Internal Auditing issued by the Institute of Internal Auditors (IIA Standards), periodic reviews should be performed through self-assessment or by other persons within the organization, with knowledge of internal auditing practices and the IIA Standards. In addition, an external assessment of its internal audit activity should be conducted at least once every five years by a qualified, independent reviewer or a review team from outside the organization. How KPMG can help n align the internal n People Does internal audit function with audit have the right KPMG’s Strategic the organization’s “people strategy” to Performance Review for business objectives; achieve the objectives Internal Audit (K’SPRint) ...