The chief audit executive was asked to define me internal audit activity s key performance indicators (KPIs) tor the upcoming year. The KPIs must measure efficiency and effectiveness. Which of the…

Question

Options

• AInternal audit reports are consistently submitted prior to the audit report deadline
• BPost engagement surveys completed by management indicate a "meets or exceeds expectations"
• CThere is a significant reduction of travel costs per project over the next fiscal year
• DInternal auditors identify a minimum number of issues and provide recommendations to address

• A
  10% (5)
• B
  83% (43)
• C
  4% (2)
• D
  4% (2)

Explanation

A key performance indicator (KPI) that measures effectiveness reflects how well the internal audit activity achieves its objectives and meets stakeholder expectations. Post-engagement surveys completed by management, indicating a "meets or exceeds expectations" rating, directly measure the perceived value and impact of the audit work. This KPI shows whether the internal audit function is providing useful insights, recommendations, and assurance that align with management's needs and expectations, thus demonstrating the effectiveness of the audit activity.

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