Performances Evaluation of the Internal Audit Department

Author:Nadir ALI, PwC

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Keywords:corporate governance, quality assurance program, internal evaluations, external evaluations, succession planning, career planning, risk assessment, electronic working papers, knowledge base management, quality indicators

Abstract:
Considering the increased focus on corporate governance during the last period and the role of internal audit in this context, the author presents the practical aspects of the evaluation of the internal audit department performance based on his professional experience. \r\n\r\nCompliance with the International Standards for the Professional Practice of Internal Auditing is a good starting point but this is not sufficient to answer the question on the agenda of the audit committee: „How effectively is the potential of the internal audit department used in our organisation?” \r\n\r\nThe author presents the benefits of the external evaluation of the internal audit. He introduces several dimensions of the evaluation of the internal audit department and illustrates a series of practical problems in our country.

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