What are Internal Audit Team metrics? Finding the right Internal Audit Team metrics can be daunting, especially when you're busy working on your day-to-day tasks. This is why we've curated a list of examples for your inspiration.
Copy these examples into your preferred app, or you can also use Tability to keep yourself accountable.
Find Internal Audit Team metrics with AI While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI metrics generator below to generate your own strategies.
Examples of Internal Audit Team metrics and KPIs 1. Audit Completion Rate The percentage of planned audits completed in a given period
What good looks like for this metric: 90%-95% completion rate
Ideas to improve this metric Set clear priorities for audits Allocate resources effectively Enhance time management skills Streamline audit processes Regularly review audit plans 2. Number of Findings per Audit Average number of findings identified during each audit
What good looks like for this metric: 2-5 findings per audit
Ideas to improve this metric Improve risk assessment techniques Incorporate data analytics in audits Enhance auditor training programmes Focus on high-risk areas Use checklists to standardise audits 3. Implementation Rate of Audit Recommendations Percentage of audit recommendations implemented within the agreed timelines
What good looks like for this metric: 80% implementation within 90 days
Ideas to improve this metric Ensure recommendations are actionable Engage with auditees to understand constraints Follow up regularly on recommendations Provide practical solutions Prioritise high-impact recommendations 4. External Audit Discrepancy Comparison between internal audit findings and external audit findings
What good looks like for this metric: Less than 5% discrepancy
Ideas to improve this metric Align internal audit focus with external audits Improve coordination with external auditors Regularly update auditing standards Review and improve audit documentation Provide sufficient training to internal auditors 5. Audit Cost Efficiency Cost of auditing per audit presented as a value component to business value
What good looks like for this metric: $5,000-$10,000 per audit
Ideas to improve this metric Implement cost-saving technologies Opt for risk-based audit planning Streamline the audit process Utilise a hybrid auditing team (internal and external) Automate repetitive tasks where possible
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1. Regulatory Audit Pass Rate Percentage of audits passed without any non-compliance findings
What good looks like for this metric: 85-95%
Ideas to improve this metric Conduct regular internal audits Provide ongoing compliance training Implement a regulatory compliance management system Review and update compliance policies regularly Engage external consultants for unbiased evaluations 2. Compliance Training Completion Rate Percentage of employees who complete compliance training on time
What good looks like for this metric: 90% or higher
Ideas to improve this metric Utilise engaging training materials Set clear deadlines for training completion Offer flexible training schedules Provide incentives for timely completion Assess and improve training efficacy 3. Incident Response Time Average time taken to respond to compliance-related incidents
What good looks like for this metric: Within 24 hours
Ideas to improve this metric Establish clear incident response protocols Conduct incident response drills Use automated incident management tools Provide quick-access reporting channels Evaluate past incidents to improve speed 4. Number of Compliance Violations Total number of compliance violations identified within a specific period
What good looks like for this metric: Minimise below industry average
Ideas to improve this metric Enhance monitoring and reporting tools Increase frequency of compliance reviews Strengthen enforcement of compliance measures Educate employees on recognising violations Implement preventative measures 5. Policy Update Implementation Rate Percentage of policy updates implemented within the target timeframe
What good looks like for this metric: 95% or higher
Ideas to improve this metric Establish a structured policy review process Coordinate with internal departments for smooth implementation Communicate updates clearly to all stakeholders Allocate resources for rapid policy rollouts Monitor and track policy adoption
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Tracking your Internal Audit Team metrics Having a plan is one thing, sticking to it is another.
Having a good strategy is only half the effort. You'll increase significantly your chances of success if you commit to a weekly check-in process .
A tool like Tability can also help you by combining AI and goal-setting to keep you on track.
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Planning resources OKRs are a great way to translate strategies into measurable goals. Here are a list of resources to help you adopt the OKR framework:
Tability's check-ins will save you hours and increase transparency
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