EFFECTIVENESS EVALUATION OF INTERNAL AUDIT

Evaluation of the effectiveness of internal audit allows one side information on its operation and is one of the criteria for assessing the quality of internal audit and on the other hand allows us to analyze the benefits arising from the ownership, justifying its desirability. You can, therefore, speak of the effectiveness of internal audit in terms of efficiency measures, where should analyze its compliance with standards and in terms of efficacy, where you should evaluate the benefits and costs of its operation. It should be noted that the full evaluation of the effectiveness should cover both of these aspects.