Live Online Training

Audit Scoring - Bridging the Gap between Organisational and Internal Audit Performance Management Systems

Session overview

Today, organisations are becoming more precise in measuring their performance.

As stated by Kaplan and Norton in their balanced scorecard, “you can’t manage performance if you don’t measure performance”. Therefore, organisations have implemented sophisticated performance management systems to properly measure performance against their business objectives. Simultaneously, risk management have also moved to more sophisticated approaches for measuring risk against these business objectives.

Meanwhile, many internal audit departments have failed to adopt similar approaches. In many cases, traditional audit ratings are still being used, which overly depend upon auditor judgment, and fail to identify improving and / or deteriorating governance, risk and control environments.

This session will discuss audit scoring, which reduces dependence upon auditor judgment, and identifies trends in governance, risk and control environments.

Specific issues covered

• Traditional audit ratings
• Audit scoring, including:
- Benefits
- Barriers

• Steps to be undertaken in implementing audit scoring
• Case study on audit scoring

Expected Learning Outcomes

• Understand the weaknesses associated with traditional audit ratings
• Understand the benefits associated with audit scoring
• Understand the barriers associated with audit scoring
• Understand the steps to be undertaken in implementing audit scoring

Who should attend

This seminar is intended for Audit Committees, Chief Audit Executives, Internal Audit Managers, IT Audit Managers and Risk Managers.