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Benchmarking Report Share, Compare, Validate Year: 2018 Your Organization Date SAMPLE
Benchmarking ReportShare, Compare, Validate
Year: 2018Your Organization Date
SAMPLE
Terms and ConditionsThis report contains confidential data and is for the exclusive use of your organization. Distribution to other companies is strictly prohibited. By accepting this document you are consenting to be bound by an agreement between your organization and the Institute of lntemal Auditors (The IIA). Unauthorized reproduction or distribution of this document, or any portion of it, may result in severe civil or criminal penalties.
Your suggestions for improvement are always welcome and can be submitted via e-mail to [email protected].
Thank you for your continued participation in the Audit Intelligence Suite – Benchmarking Report.
Benchmarking Report: Your Organization
Benchmarking Tier 1: Your Organization
Benchmarking Tier 2: Government
Benchmarking Tier 3: North America
Benchmarking Tier 4: Audit Staff Size: 1 to 5
Benchmarking Tier 5: Universe
SAMPLE
Table Of Contents
Section 1: Demographic Information Page 1
Respondents by Tier Group ....................................................................................... Page 2
Demographic Information: Financial .......................................................................... Page 3
Respondents by Expense Class ................................................................................ Page 4
Demographic Information: Employees ....................................................................... Page 5
Respondents by Industry ........................................................................................... Page 6
Organizational Demographics .................................................................................... Page 7
Organizational Demographics .................................................................................... Page 8
Sarbanes-Oxley ......................................................................................................... Page 9
Section 2: Summary Information Page 10
Summary Information (Tier 1) .................................................................................. Page 11
Summary Information (Tier 2) .................................................................................. Page 12
Summary Information (Tier 3) .................................................................................. Page 13
Summary Information (Tier 4) .................................................................................. Page 14
Summary Information (Tier 5) .................................................................................. Page 15
Revenues and Assets Per Auditor ........................................................................... Page 16
Expenses and Employees Per Auditor ..................................................................... Page 17
Section 3: Internal Audit Costs Page 18
Summary of Audit Costs .......................................................................................... Page 19
Salary and Bonuses as % of Total Audit Costs (Excl. Benefits & Costs) .................. Page 20
Salary and Bonuses as % of Total Audit Costs (Incl. Benefits & Costs) ................... Page 21
Benefits as a Percentage of Total Audit Costs ......................................................... Page 22
Travel and Training as % of Total Audit Costs (Excl. Benefits & Costs) ................... Page 23
Travel and Training as % of Total Audit Costs (Incl. Benefits & Costs) ..................... Page 24
Total Costs per Auditor ............................................................................................ Page 25
Total Costs per Auditor (with and without Travel) ..................................................... Page 26
Travel and Training Costs per Auditor...................................................................... Page 27
Summary of Compensation ..................................................................................... Page 28
Summary of Compensation ..................................................................................... Page 29
Employee Compensation - Certification ................................................................... Page 30
Employee Compensation - Increases ...................................................................... Page 31
Employee Compensation - Avg Increase (Tier 1) ..................................................... Page 32
Employee Compensation - Avg Increase (Tier 1) ..................................................... Page 33
Employee Compensation - Avg Increase (Tier 2) ..................................................... Page 34
Employee Compensation - Avg Increase (Tier 2) ..................................................... Page 35
Employee Compensation - Avg Increase (Tier 3) ..................................................... Page 36
Employee Compensation - Avg Increase (Tier 3) ..................................................... Page 37
Employee Compensation - Avg Increase (Tier 4) ..................................................... Page 38
Employee Compensation - Avg Increase (Tier 4) ..................................................... Page 39
Employee Compensation - Avg Increase (Tier 5) ..................................................... Page 40
Employee Compensation - Avg Increase (Tier 5) ..................................................... Page 41
Salary Adjustments and Reasoning (Tier 1) ............................................................. Page 42
Salary Adjustments and Reasoning (Tier 2) ............................................................. Page 43
Salary Adjustments and Reasoning (Tier 3) ............................................................. Page 44
Salary Adjustments and Reasoning (Tier 4) ............................................................. Page 45
Salary Adjustments and Reasoning (Tier 5) ............................................................. Page 46
Section 4: Internal Audit Staffing Page 47
Internal Audit Staff Profile ........................................................................................ Page 48
Change in Internal Audit Staff Size .......................................................................... Page 49
Summary of Professional Audit Staff by Function ..................................................... Page 50
General and IT Auditors as a Percentage of Total Auditors ...................................... Page 51
Fraud and ESH Auditors as a Percentage of Total Auditors ..................................... Page 52
Other Compliance Auditors as a Percentage of Total ............................................... Page 53
Presence of Dedicated IT Audit Group ..................................................................... Page 54
Level of Education Sought for Auditors .................................................................... Page 55
Level of Education Sought for Auditors Continued ................................................... Page 56
Internal Audit Experience of Auditors ....................................................................... Page 57
Relevant Non-Internal Audit Experience of Auditors ................................................. Page 58
Industry Experience of Auditors ............................................................................... Page 59
Staff with Professional Designation as Percent of Total Staff ................................... Page 60
Percent of Staff with Professional Designations ....................................................... Page 61
Professional Designation Mix ................................................................................... Page 62
CIA Designation ....................................................................................................... Page 63
Internal Audit Hiring Practices .................................................................................. Page 64
Staff Turnover .......................................................................................................... Page 65
Training Hours ......................................................................................................... Page 66
Section 5: Sourcing Page 67
Sourced Staff Profile ................................................................................................ Page 68
Costs of Purchased Services ................................................................................... Page 69
Level of Sourcing ..................................................................................................... Page 70
What Internal Audit Activities are Sourced ............................................................... Page 71
Percentage of Audit Areas Sourced ......................................................................... Page 72
Sourced Hours and Fees ......................................................................................... Page 73
Fees For Purchased Services .................................................................................. Page 74
Future Reliance on Sourcing .................................................................................... Page 75
Section 6: External Audit Page 76
External Audit .......................................................................................................... Page 77
Total IA Hours Spent on External Audit .................................................................... Page 78
External Audit Fees as Percentage of Total Revenues, Assets, and Expenses ........ Page 79
Benchmarking Report: Your Organization
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Section 7: Internal Audit Oversight Page 80
Section 7.1: Internal Audit Oversight - Chief Audit Executive Page 81
CAE Administrative Reporting Line .......................................................................... Page 82
CAE Functional Reporting Line ................................................................................ Page 83
Title of Chief Audit Executive ................................................................................... Page 84
Responsibilities of Chief Audit Executive ................................................................. Page 85
Section 7.2: Internal Audit Oversight - Audit Committee Page 86
Audit Committee ...................................................................................................... Page 87
Audit Committee Chair............................................................................................. Page 88
Audit Committee Chair............................................................................................. Page 89
Private Sessions with Audit Committee .................................................................... Page 90
Presence of Audit Committee Charter...................................................................... Page 91
Responsibilities of Audit Committee ......................................................................... Page 92
Information Shared with Audit Committee ................................................................ Page 93
Professional Development of Audit Committee Provided by Internal Audit ............... Page 94
Evaluations of Audit Committee and Charter ........................................................... Page 95
Expertise Present on Audit Committee .................................................................... Page 96
Section 8: Risk Assessment and Audit Planning Page 97
Section 8.1: Audit Planning Page 98
Audit Performance ................................................................................................... Page 99
Percent of Audits Planned Actually Performed ....................................................... Page 100
Number of Unplanned Audits ................................................................................. Page 101
Audits Per Auditor .................................................................................................. Page 102
Allocation of Audit Plan .......................................................................................... Page 103
Percent of Total Hours for Unallocated Time ......................................................... Page 104
Percent of Management Requests Completed ....................................................... Page 105
Type of Audit Plan ................................................................................................. Page 106
Years Covered By Audit Plan ................................................................................ Page 107
Section 8.2: Risk Assessments Page 108
Presence of Formal Risk Assessment Process for Internal Audit ........................... Page 109
Frequency of Internal Audit Risk Assessment ........................................................ Page 110
Factors Influencing Risk Assessment..................................................................... Page 111
Presence of Engagement Level Risk Assessments ............................................... Page 112
Engagement Level Risk Assessments ................................................................... Page 113
Section 9: Audit Implementation / Life Cycles / Reporting Page 114
Allocation of Audit Staff Time ................................................................................. Page 115
Audit Life Cycle ...................................................................................................... Page 116
Audit Life Cycle - Reporting ................................................................................... Page 117
Tools and Techniques Utilized on Audits ............................................................... Page 118
Audit Engagement Reporting ................................................................................. Page 119
Section 9.1: Observations and Follow-Up Audits Page 120
Audit Follow-Up Activities ...................................................................................... Page 121
Days Outstanding for Open Items .......................................................................... Page 122
Opinion Activities ................................................................................................... Page 123
Section 10: Performance Management Page 124
Presence of Formal Quality Assurance and Improvement Program ....................... Page 125
Section 10.1: Internal Quality Assessments Page 126
Frequency of Internal Quality Assessments ........................................................... Page 127
Internal Quality Assessments ................................................................................. Page 128
Section 10.2: External Quality Assessments Page 129
Completion of External Quality Assessment ........................................................... Page 130
Obstacles of External Quality Assessment ............................................................. Page 131
Performance of External Quality Assessments ...................................................... Page 132
Results of External Quality Assessment Shared With ............................................ Page 133
Section 11: Subscribers By Industry Group Page 134
Benchmarking Report: Your Organization
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Section 1: Demographic Information
Benchmarking Report: Your Organization
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Respondents
Your Organization 1
Government 33
North America 235
Audit Staff Size: 1 to 5 58
Universe 316
Respondents by Tier Group
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Demographic Information: Financial
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Respondents by Expense Class
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Demographic Information: Employees
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Value
Aerospace and Defense 2%
Agriculture, Forestry, and Fisheries 2%
Chemical/Drug 3%
Communications/Telecommunications 4%
Engineering/Construction 2%
Education 3%
Energy, Oil & Gas, and Mining 11%
Financial Services/Banking/Insurance 38%
Government 10%
Healthcare 6%
Manufacturing 19%
Real Estate 3%
Services 9%
Technology 6%
Transportation 4%
Utilities 10%
Wholesale/Retail 7%
Respondents by Industry
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Organizational Demographics
Page 7
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Organizational Demographics
Page 8
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Sarbanes-Oxley
Page 9
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Section 2: Summary Information
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Revenues Total Employees Audit Staff Count Internal Audit Costs Total External Audit Fees
IA Costs AS % of Revenues
EA Fees AS % of Revenues
Under $500 Million
$500 Million - $1 Billion
$1 Billion - $5 Billion
$5 Billion - $15 Billion $5,000,000,000 1,000.00 4.00 $325,000 $50,000 0.0065% 0.001%
$15 Billion - $25 Billion
Over $25 Billion
Overall $5,000,000,000 1,000.00 4.00 $325,000 $50,000 0.0065% 0.001%
Revenues
Assets Total Employees Audit Staff Count Internal Audit Costs Total External Audit Fees
IA Costs AS % of Assets
EA Fees AS % of Assets
Under $500 Million
$500 Million - $1 Billion
$1 Billion - $5 Billion
$5 Billion - $15 Billion $5,000,000,000 1,000.00 4.00 $325,000 $50,000 0.0065% 0.001%
$15 Billion - $25 Billion
Over $25 Billion
Overall $5,000,000,000 1,000.00 4.00 $325,000 $50,000 0.0065% 0.001%
Assets
Expenses Total Employees Audit Staff Count Internal Audit Costs Total External Audit Fees
IA Costs AS % of Expenses
EA Fees AS % of Expenses
Under $500 Million
$500 Million - $1 Billion
$1 Billion - $5 Billion $4,000,000,000 1,000.00 4.00 $325,000 $50,000 0.0081% 0.0013%
$5 Billion - $15 Billion
$15 Billion - $25 Billion
Over $25 Billion
Overall $4,000,000,000 1,000.00 4.00 $325,000 $50,000 0.0081% 0.0013%
Expenses
Summary Information(Your Organization)
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Revenues Total Employees Audit Staff Count Internal Audit Costs Total External Audit Fees
IA Costs AS % of Revenues
EA Fees AS % of Revenues
Under $500 Million $225,864,005 812.00 5.13 $957,150 $41,234 0.6377% 0.0399%
$500 Million - $1 Billion $767,549,333 2,074.00 12.27 $2,742,694 $366,977 0.3432% 0.0461%
$1 Billion - $5 Billion $2,436,776,744 2,550.00 17.93 $3,734,239 $487,445 0.1709% 0.0225%
$5 Billion - $15 Billion $6,301,292,020 3,677.00 18.39 $3,984,422 $363,452 0.0621% 0.0058%
$15 Billion - $25 Billion
Over $25 Billion $64,954,433,500 25,864.00 31.50 $6,181,024 $485,911 0.0096% 0.0007%
Overall $6,474,851,034 3,772.00 15.25 $3,179,805 $326,115 0.2636% 0.0237%
Revenues
Assets Total Employees Audit Staff Count Internal Audit Costs Total External Audit Fees
IA Costs AS % of Assets
EA Fees AS % of Assets
Under $500 Million $150,346,444 856.00 7.90 $1,337,592 $38,598 1.5834% 0.0618%
$500 Million - $1 Billion $811,887,168 597.00 5.50 $937,119 $52,738 0.1232% 0.0075%
$1 Billion - $5 Billion $2,877,414,721 2,857.00 8.14 $2,166,603 $363,242 0.1079% 0.0169%
$5 Billion - $15 Billion $7,726,528,000 5,684.00 8.88 $1,649,916 $70,000 0.0225% 0.001%
$15 Billion - $25 Billion $16,600,000,000 5,000.00 12.00 $1,684,077 0.0101%
Over $25 Billion $338,671,321,605 4,807.00 23.73 $4,950,600 $501,465 0.0036% 0.0004%
Overall $156,058,878,765 3,772.00 15.25 $3,179,805 $326,115 0.2269% 0.0132%
Assets
Expenses Total Employees Audit Staff Count Internal Audit Costs Total External Audit Fees
IA Costs AS % of Expenses
EA Fees AS % of Expenses
Under $500 Million $264,878,695 1,009.00 12.22 $2,406,331 $261,657 0.9551% 0.0999%
$500 Million - $1 Billion $736,844,739 2,130.00 23.07 $5,530,763 $460,849 0.7609% 0.0628%
$1 Billion - $5 Billion $2,438,482,824 3,683.00 15.46 $3,386,480 $282,431 0.2003% 0.0175%
$5 Billion - $15 Billion $5,189,066,666 7,067.00 12.00 $2,265,427 $415,000 0.0431% 0.0083%
$15 Billion - $25 Billion
Over $25 Billion $64,628,256,000 48,557.00 25.00 $2,746,072 $417,100 0.0042% 0.0006%
Overall $3,209,817,071 3,772.00 15.25 $3,179,805 $326,115 0.648% 0.069%
Expenses
Summary Information(Government)
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Revenues Total Employees Audit Staff Count Internal Audit Costs Total External Audit Fees
IA Costs AS % of Revenues
EA Fees AS % of Revenues
Under $500 Million $242,754,530 1,160.00 6.95 $973,219 $477,329 0.5145% 0.2715%
$500 Million - $1 Billion $769,436,327 2,585.00 10.79 $1,809,173 $1,370,195 0.2467% 0.2164%
$1 Billion - $5 Billion $2,284,285,541 5,180.00 11.17 $1,894,434 $1,948,115 0.0939% 0.09%
$5 Billion - $15 Billion $8,577,423,090 21,323.00 24.68 $4,152,681 $3,344,445 0.0495% 0.04%
$15 Billion - $25 Billion $18,844,951,727 75,580.00 30.65 $5,417,340 $4,923,347 0.0285% 0.0263%
Over $25 Billion $64,881,674,034 94,650.00 165.28 $27,459,721 $16,711,246 0.0462% 0.029%
Overall $9,769,173,505 19,321.00 28.61 $4,766,022 $3,488,736 0.1604% 0.1127%
Revenues
Assets Total Employees Audit Staff Count Internal Audit Costs Total External Audit Fees
IA Costs AS % of Assets
EA Fees AS % of Assets
Under $500 Million $282,764,014 2,027.00 6.04 $948,540 $630,968 2.2548% 1.8022%
$500 Million - $1 Billion $747,820,788 3,237.00 4.89 $762,342 $873,670 0.1026% 0.1202%
$1 Billion - $5 Billion $2,774,525,398 6,266.00 8.22 $1,309,975 $1,284,478 0.0536% 0.0525%
$5 Billion - $15 Billion $8,444,090,980 19,579.00 15.71 $2,477,240 $2,493,512 0.0313% 0.0321%
$15 Billion - $25 Billion $19,003,725,952 24,384.00 20.44 $3,564,420 $4,304,942 0.0184% 0.0219%
Over $25 Billion $263,118,949,501 40,764.00 78.12 $13,179,151 $8,028,552 0.0098% 0.0069%
Overall $71,992,052,711 19,321.00 28.61 $4,766,022 $3,488,736 0.1969% 0.1652%
Assets
Expenses Total Employees Audit Staff Count Internal Audit Costs Total External Audit Fees
IA Costs AS % of Expenses
EA Fees AS % of Expenses
Under $500 Million $250,461,746 1,427.00 9.49 $1,504,281 $687,437 0.6266% 0.289%
$500 Million - $1 Billion $762,654,314 2,724.00 12.47 $2,321,730 $1,297,109 0.316% 0.1886%
$1 Billion - $5 Billion $2,417,827,963 8,546.00 11.89 $1,998,309 $2,259,651 0.0959% 0.1019%
$5 Billion - $15 Billion $8,195,010,025 24,364.00 26.32 $4,476,205 $3,904,115 0.0549% 0.0503%
$15 Billion - $25 Billion $18,493,371,116 83,352.00 47.21 $7,065,639 $4,650,018 0.0369% 0.027%
Over $25 Billion $59,118,046,031 104,961.00 178.32 $29,640,145 $18,256,918 0.0592% 0.0349%
Overall $7,833,122,344 19,321.00 28.61 $4,766,022 $3,488,736 0.2411% 0.1422%
Expenses
Summary Information(North America)
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Revenues Total Employees Audit Staff Count Internal Audit Costs Total External Audit Fees
IA Costs AS % of Revenues
EA Fees AS % of Revenues
Under $500 Million $201,617,143 1,058.00 3.11 $507,818 $208,709 0.4881% 0.228%
$500 Million - $1 Billion $744,551,173 2,238.00 3.47 $522,133 $590,886 0.0743% 0.0845%
$1 Billion - $5 Billion $1,679,584,459 6,189.00 4.08 $773,524 $1,037,058 0.0534% 0.071%
$5 Billion - $15 Billion $5,000,000,000 1,600.00 3.50 $807,500 $440,000 0.0161% 0.0088%
$15 Billion - $25 Billion
Over $25 Billion
Overall $808,077,736 2,498.00 3.41 $584,509 $461,346 0.3027% 0.1617%
Revenues
Assets Total Employees Audit Staff Count Internal Audit Costs Total External Audit Fees
IA Costs AS % of Assets
EA Fees AS % of Assets
Under $500 Million $237,316,679 1,616.00 2.92 $407,205 $344,183 2.0794% 1.8581%
$500 Million - $1 Billion $743,036,892 2,714.00 3.52 $619,792 $662,364 0.0867% 0.0992%
$1 Billion - $5 Billion $2,317,575,656 2,246.00 3.65 $684,836 $502,907 0.0344% 0.0312%
$5 Billion - $15 Billion $7,580,633,000 1,783.00 3.68 $629,100 $140,100 0.0082% 0.0018%
$15 Billion - $25 Billion
Over $25 Billion $2,130,000,000,000 13,585.00 4.00 $743,250
Overall $75,104,687,554 2,498.00 3.41 $584,509 $461,346 0.676% 0.5919%
Assets
Expenses Total Employees Audit Staff Count Internal Audit Costs Total External Audit Fees
IA Costs AS % of Expenses
EA Fees AS % of Expenses
Under $500 Million $175,399,111 1,162.00 3.16 $507,411 $291,212 0.5112% 0.1919%
$500 Million - $1 Billion $727,674,304 2,241.00 3.62 $580,215 $785,081 0.0878% 0.1169%
$1 Billion - $5 Billion $1,892,869,173 6,637.00 4.01 $754,168 $682,667 0.0493% 0.0417%
$5 Billion - $15 Billion $5,000,000,000 2,200.00 3.00 $1,290,000 $830,000 0.0258% 0.0166%
$15 Billion - $25 Billion
Over $25 Billion
Overall $709,140,379 2,498.00 3.41 $584,509 $461,346 0.3342% 0.1479%
Expenses
Summary Information(Audit Staff Size: 1 to 5)
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Revenues Total Employees Audit Staff Count Internal Audit Costs Total External Audit Fees
IA Costs AS % of Revenues
EA Fees AS % of Revenues
Under $500 Million $253,421,055 1,134.00 6.60 $903,436 $386,006 0.4847% 0.2062%
$500 Million - $1 Billion $761,404,138 2,403.00 11.63 $1,649,781 $1,051,996 0.2249% 0.1643%
$1 Billion - $5 Billion $2,381,174,878 6,166.00 12.92 $1,994,406 $1,814,896 0.0949% 0.0822%
$5 Billion - $15 Billion $8,294,494,817 24,199.00 23.10 $3,774,693 $3,123,019 0.0461% 0.0373%
$15 Billion - $25 Billion $18,849,732,623 64,510.00 66.20 $11,011,943 $5,404,795 0.0575% 0.0289%
Over $25 Billion $62,330,357,124 90,639.00 156.43 $25,229,501 $15,488,928 0.0436% 0.0274%
Overall $8,989,730,310 19,112.00 28.82 $4,594,365 $3,154,084 0.1672% 0.0977%
Revenues
Assets Total Employees Audit Staff Count Internal Audit Costs Total External Audit Fees
IA Costs AS % of Assets
EA Fees AS % of Assets
Under $500 Million $253,319,928 1,556.00 5.65 $799,279 $438,488 1.6356% 1.2196%
$500 Million - $1 Billion $767,541,721 2,533.00 4.93 $745,949 $824,027 0.0994% 0.1141%
$1 Billion - $5 Billion $2,805,155,678 6,599.00 8.60 $1,323,369 $1,180,178 0.053% 0.047%
$5 Billion - $15 Billion $8,526,460,708 21,518.00 16.75 $2,481,450 $2,259,074 0.031% 0.0285%
$15 Billion - $25 Billion $18,919,158,607 20,896.00 19.13 $3,267,667 $4,029,773 0.0171% 0.0208%
Over $25 Billion $294,433,960,191 39,509.00 78.10 $12,638,243 $7,340,923 0.0098% 0.0067%
Overall $80,212,032,771 19,112.00 28.82 $4,594,365 $3,154,084 0.1721% 0.1347%
Assets
Expenses Total Employees Audit Staff Count Internal Audit Costs Total External Audit Fees
IA Costs AS % of Expenses
EA Fees AS % of Expenses
Under $500 Million $231,427,054 1,401.00 8.50 $1,284,774 $580,599 0.6365% 0.2534%
$500 Million - $1 Billion $756,155,817 2,675.00 13.01 $2,164,162 $1,147,327 0.294% 0.1664%
$1 Billion - $5 Billion $2,500,625,264 9,915.00 13.83 $2,122,346 $2,028,150 0.102% 0.0891%
$5 Billion - $15 Billion $8,229,170,503 28,147.00 34.11 $5,514,112 $3,756,580 0.0629% 0.0469%
$15 Billion - $25 Billion $18,352,084,463 71,452.00 66.92 $9,788,562 $5,204,410 0.0517% 0.0291%
Over $25 Billion $58,264,492,827 101,434.00 165.33 $27,206,977 $17,071,880 0.0543% 0.0327%
Over $25 Billion $7,293,282,222 19,112.00 28.82 $4,594,365 $3,154,084 0.2525% 0.128%
Expenses
Summary Information(Universe)
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Revenues and Assets Per Auditor
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Expenses and Employees Per Auditor
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Section 3: Internal Audit Costs
Benchmarking Report: Your Organization
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Salary Bonuses Employee Benefits Travel Training Purchased Services
Allocated or Overhead Costs
Outsourced Project Work
Total
Your Organization $230,000 $20,000 $60,000 $10,000 $5,000 $0 $0 $0 $325,000
Government $1,892,043 $134,464 $518,182 $95,927 $37,212 $106,018 $363,873 $43,113 $3,179,805
North America $2,709,609 $340,295 $728,788 $186,356 $37,847 $391,344 $233,280 $141,095 $4,750,909
Audit Staff Size: 1 to 5
$336,747 $35,271 $81,390 $21,236 $6,510 $75,257 $15,960 $13,573 $584,509
Universe $2,608,802 $310,991 $691,316 $191,406 $41,156 $363,526 $260,682 $130,610 $4,583,669
Summary of Audit Costs
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Salary and Bonuses as % of Total Audit Costs (Excl. Benefits and Allocated Costs)
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Salary and Bonuses as % of Total Audit Costs (Incl. Benefits and Allocated Costs)
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Benefits as a Percentage of Total Audit Costs
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Travel and Training as % of Total Audit Costs (Excl. Benefits and Allocated Costs)
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Travel and Training as % of Total Audit Costs (Incl. Benefits and Allocated Costs)
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Total Costs per Auditor
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Total Costs per Auditor (with and without Travel)
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Travel and Training Costs per Auditor
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Salary Cash Bonus Equivalent USD Value of Other Non-Cash Bonus
Total
Your Organization $150,000 $20,000 $5,000 $175,000
Government $150,000 $20,000 $5,000 $5,303
North America $125,000 $15,000 $5,000 $1,234
Audit Staff Size: 1 to 5 $150,000 $20,000 $5,000 $3,017
Universe $125,000 $15,000 $5,000 $918
CAE
Salary Cash Bonus Equivalent USD Value of Other Non-Cash Bonus
Total
Your Organization $75,000 $2,500 $5,000 $82,500
Government $75,000 $2,500 $5,000 $2,500
North America $67,500 $1,750 $3,750 $621
Audit Staff Size: 1 to 5 $75,000 $2,500 $5,000 $1,422
Universe $67,500 $1,750 $3,750 $462
Lead Auditor
Salary Cash Bonus Equivalent USD Value of Other Non-Cash Bonus
Total
Your Organization $95,000 $10,000 $5,000 $110,000
Government $95,000 $10,000 $5,000 $3,333
North America $85,000 $7,500 $3,000 $813
Audit Staff Size: 1 to 5 $95,000 $10,000 $5,000 $1,897
Universe $85,000 $7,500 $3,000 $604
Reviewers / Managers
Summary of Compensation
Page 28
Benchmarking Report: Your Organization
SAMPLE
Salary Cash Bonus Equivalent USD Value of Other Non-Cash Bonus
Total
Your Organization $50,000 $500 $1,000 $51,500
Government $50,000 $500 $1,000 $1,561
North America $47,500 $375 $1,000 $416
Audit Staff Size: 1 to 5 $50,000 $500 $1,000 $888
Universe $47,500 $375 $1,000 $309
College Hire
Salary Cash Bonus Equivalent USD Value of Other Non-Cash Bonus
Total
Your Organization $60,000 $1,000 $2,500 $63,500
Government $60,000 $1,000 $2,500 $1,924
North America $55,000 $750 $2,250 $494
Audit Staff Size: 1 to 5 $60,000 $1,000 $2,500 $1,095
Universe $55,000 $750 $2,250 $367
Staff
Summary of Compensation
Page 29
Benchmarking Report: Your Organization
SAMPLE
Employee Compensation - Certification
Page 30
Benchmarking Report: Your Organization
SAMPLE
Employee Compensation - Increases
Page 31
Benchmarking Report: Your Organization
SAMPLE
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
100%
Reviewers / Managers
100%
Lead Auditor
100%
Staff 100%
College Hire
100%
CIA
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
100%
Reviewers / Managers
100%
Lead Auditor
100%
Staff 100%
College Hire
100%
CRMA
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
100%
Reviewers / Managers
100%
Lead Auditor
100%
Staff 100%
College Hire
100%
CPA
Employee Compensation - Avg Increase (Your Organization)
Page 32
Benchmarking Report: Your Organization
SAMPLE
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
100%
Reviewers / Managers
100%
Lead Auditor
100%
Staff 100%
College Hire
100%
CISA
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
100%
Reviewers / Managers
100%
Lead Auditor
100%
Staff 100%
College Hire
100%
CFE
Employee Compensation - Avg Increase (Your Organization)
Page 33
Benchmarking Report: Your Organization
SAMPLE
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
100%
Reviewers / Managers
100%
Lead Auditor
100%
Staff 100%
College Hire
100%
CIA
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
100%
Reviewers / Managers
100%
Lead Auditor
100%
Staff 100%
College Hire
100%
CRMA
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
100%
Reviewers / Managers
100%
Lead Auditor
100%
Staff 100%
College Hire
100%
CPA
Employee Compensation - Avg Increase (Government)
Page 34
Benchmarking Report: Your Organization
SAMPLE
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
100%
Reviewers / Managers
100%
Lead Auditor
100%
Staff 100%
College Hire
100%
CISA
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
100%
Reviewers / Managers
100%
Lead Auditor
100%
Staff 100%
College Hire
100%
CFE
Employee Compensation - Avg Increase (Government)
Page 35
Benchmarking Report: Your Organization
SAMPLE
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
50% 50%
Reviewers / Managers
50% 50%
Lead Auditor
100%
Staff 50% 50%
College Hire
50% 50%
CIA
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
50% 50%
Reviewers / Managers
100%
Lead Auditor
50% 50%
Staff 50% 50%
College Hire
50% 50%
CRMA
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
50% 50%
Reviewers / Managers
50% 50%
Lead Auditor
100%
Staff 50% 50%
College Hire
50% 50%
CPA
Employee Compensation - Avg Increase (North America)
Page 36
Benchmarking Report: Your Organization
SAMPLE
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
50% 50%
Reviewers / Managers
50% 50%
Lead Auditor
100%
Staff 50% 50%
College Hire
50% 50%
CISA
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
50% 50%
Reviewers / Managers
50% 50%
Lead Auditor
50% 50%
Staff 50% 50%
College Hire
50% 50%
CFE
Employee Compensation - Avg Increase (North America)
Page 37
Benchmarking Report: Your Organization
SAMPLE
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
100%
Reviewers / Managers
100%
Lead Auditor
100%
Staff 100%
College Hire
100%
CIA
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
100%
Reviewers / Managers
100%
Lead Auditor
100%
Staff 100%
College Hire
100%
CRMA
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
100%
Reviewers / Managers
100%
Lead Auditor
100%
Staff 100%
College Hire
100%
CPA
Employee Compensation - Avg Increase (Audit Staff Size: 1 to 5)
Page 38
Benchmarking Report: Your Organization
SAMPLE
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
100%
Reviewers / Managers
100%
Lead Auditor
100%
Staff 100%
College Hire
100%
CISA
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
100%
Reviewers / Managers
100%
Lead Auditor
100%
Staff 100%
College Hire
100%
CFE
Employee Compensation - Avg Increase (Audit Staff Size: 1 to 5)
Page 39
Benchmarking Report: Your Organization
SAMPLE
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
50% 50%
Reviewers / Managers
50% 50%
Lead Auditor
100%
Staff 50% 50%
College Hire
50% 50%
CIA
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
50% 50%
Reviewers / Managers
100%
Lead Auditor
50% 50%
Staff 50% 50%
College Hire
50% 50%
CRMA
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
50% 50%
Reviewers / Managers
50% 50%
Lead Auditor
100%
Staff 50% 50%
College Hire
50% 50%
CPA
Employee Compensation - Avg Increase (Universe)
Page 40
Benchmarking Report: Your Organization
SAMPLE
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
50% 50%
Reviewers / Managers
50% 50%
Lead Auditor
100%
Staff 50% 50%
College Hire
50% 50%
CISA
Do Not Offer
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% Greater than 25%
Chief Audit Executive
50% 50%
Reviewers / Managers
50% 50%
Lead Auditor
50% 50%
Staff 50% 50%
College Hire
50% 50%
CFE
Employee Compensation - Avg Increase (Universe)
Page 41
Benchmarking Report: Your Organization
SAMPLE
1 - Very Frequent 2 - Occasional 3 - Infrequent, but possible 4 - Never 5 - Don't Know
Annual merit/performance assessment
100%
Length of services/time in job/Step rate
100%
Promotion 100%
Accelerated timing of salary increase cycle to move employee closer to target salary
100%
Internal equity/addressing salary compression
100%
Market adjustment/competitive adjustment due to movement of salaries in external market for talent
100%
General/COLA (cost-of-living adjustment) increase granted at the same level to all employees in the organization Adjustment for retention/critical skill need
100%
Pay increase for acquisition of specific skill
100%
Salary Adjustments and Reasoning (Your Organization)
Page 42
Benchmarking Report: Your Organization
SAMPLE
1 - Very Frequent 2 - Occasional 3 - Infrequent, but possible 4 - Never 5 - Don't Know
Annual merit/performance assessment
100%
Length of services/time in job/Step rate
100%
Promotion 100%
Accelerated timing of salary increase cycle to move employee closer to target salary
100%
Internal equity/addressing salary compression
100%
Market adjustment/competitive adjustment due to movement of salaries in external market for talent
100%
General/COLA (cost-of-living adjustment) increase granted at the same level to all employees in the organization Adjustment for retention/critical skill need
100%
Pay increase for acquisition of specific skill
100%
Salary Adjustments and Reasoning (Government)
Page 43
Benchmarking Report: Your Organization
SAMPLE
1 - Very Frequent 2 - Occasional 3 - Infrequent, but possible 4 - Never 5 - Don't Know
Annual merit/performance assessment
50% 50%
Length of services/time in job/Step rate
50% 50%
Promotion 50% 50%
Accelerated timing of salary increase cycle to move employee closer to target salary
50% 50%
Internal equity/addressing salary compression
50% 50%
Market adjustment/competitive adjustment due to movement of salaries in external market for talent
50% 50%
General/COLA (cost-of-living adjustment) increase granted at the same level to all employees in the organization Adjustment for retention/critical skill need
100%
Pay increase for acquisition of specific skill
50% 50%
Salary Adjustments and Reasoning (North America)
Page 44
Benchmarking Report: Your Organization
SAMPLE
1 - Very Frequent 2 - Occasional 3 - Infrequent, but possible 4 - Never 5 - Don't Know
Annual merit/performance assessment
100%
Length of services/time in job/Step rate
100%
Promotion 100%
Accelerated timing of salary increase cycle to move employee closer to target salary
100%
Internal equity/addressing salary compression
100%
Market adjustment/competitive adjustment due to movement of salaries in external market for talent
100%
General/COLA (cost-of-living adjustment) increase granted at the same level to all employees in the organization Adjustment for retention/critical skill need
100%
Pay increase for acquisition of specific skill
100%
Salary Adjustments and Reasoning (Audit Staff Size: 1 to 5)
Page 45
Benchmarking Report: Your Organization
SAMPLE
1 - Very Frequent 2 - Occasional 3 - Infrequent, but possible 4 - Never 5 - Don't Know
Annual merit/performance assessment
50% 50%
Length of services/time in job/Step rate
50% 50%
Promotion 50% 50%
Accelerated timing of salary increase cycle to move employee closer to target salary
50% 50%
Internal equity/addressing salary compression
50% 50%
Market adjustment/competitive adjustment due to movement of salaries in external market for talent
50% 50%
General/COLA (cost-of-living adjustment) increase granted at the same level to all employees in the organization Adjustment for retention/critical skill need
100%
Pay increase for acquisition of specific skill
50% 50%
Salary Adjustments and Reasoning (Universe)
Page 46
Benchmarking Report: Your Organization
SAMPLE
Section 4: Internal Audit Staffing
Benchmarking Report: Your Organization
SAMPLE
Chief Audit Executive Directors / Managers Seniors / Supervisors Staff Professional Staff Total Administration / Clerical
Total Positions
Your Organization 1 1 1 1 4 0 4
Government 1 3 4 7 15 1 16
North America 1 5 9 11 27 1 28
Audit Staff Size: 1 to 5 1 1 1 1 3 0 3
Universe 1 5 10 12 27 1 29
In-House Staff Profile
Chief Audit Executive Directors / Managers Seniors / Supervisors Staff Professional Staff Total Administration / Clerical
Total Positions
Your Organization 0 0 0 0 0 0 0
Government 0 0 0 0 1 0 1
North America 0 0 0 1 2 0 2
Audit Staff Size: 1 to 5 0 0 0 0 0 0 1
Universe 0 0 0 1 1 0 1
Sourced Staff Profile
Chief Audit Executive Directors / Managers Seniors / Supervisors Staff Professional Staff Total Administration / Clerical
Total Positions
Your Organization 1 1 1 1 4 0 4
Government 1 3 4 7 15 1 17
North America 1 6 10 12 29 1 30
Audit Staff Size: 1 to 5 1 1 1 1 3 0 4
Universe 1 5 10 13 29 1 30
Overall Staff Profile
Internal Audit Staff Profile
Page 48
Benchmarking Report: Your Organization
SAMPLE
Change in Internal Audit Staff Size
Page 49
Benchmarking Report: Your Organization
SAMPLE
General Internal Auditors
Information technology (IT) auditors
Fraud auditors Environment, Health, and Safety internal
auditors
Other compliance auditors
Other Total
Your Organization 2 1 1 0 0 0 4
Government 10.27 4.09 0.06 0.03 0.17 0.62 15.25
North America 20.52 5.05 0.91 0.15 0.95 0.94 28.53
Audit Staff Size: 1 to 5 2.62 0.49 0.11 0 0.16 0.04 3.41
Universe 21.16 4.89 0.92 0.17 0.79 0.83 28.76
Summary of Professional Audit Staff by Function
Page 50
Benchmarking Report: Your Organization
SAMPLE
General and IT Auditors as a Percentage of Total Auditors
Page 51
Benchmarking Report: Your Organization
SAMPLE
Fraud and ESH Auditors as a Percentage of Total Auditors
Page 52
Benchmarking Report: Your Organization
SAMPLE
Other Compliance Auditors as a Percentage of Total
Page 53
Benchmarking Report: Your Organization
SAMPLE
Presence of Dedicated IT Audit Group
Page 54
Benchmarking Report: Your Organization
SAMPLE
Level of Education Sought for Auditors
Page 55
Benchmarking Report: Your Organization
SAMPLE
Level of Education Sought for Auditors Continued
Page 56
Benchmarking Report: Your Organization
SAMPLE
Internal Audit Experience of Auditors
Page 57
Benchmarking Report: Your Organization
SAMPLE
Relevant Non-Internal Audit Experience of Auditors
Page 58
Benchmarking Report: Your Organization
SAMPLE
Industry Experience of Auditors
Page 59
Benchmarking Report: Your Organization
SAMPLE
Staff with Professional Designation as Percent of Total Staff
Page 60
Benchmarking Report: Your Organization
SAMPLE
Percent of Staff with Professional Designations
Page 61
Benchmarking Report: Your Organization
SAMPLE
Internal Auditing (such as CIA, MIIA, PIIA)
Information Systems Auditing (such as CISA,
QiCA, CISM)
Government Auditing, Finance (such as CIPFA,
CGAP, CGFM)
Control Self-Assessment (such as CCSA)
Public Accounting, Chartered Accountancy
(such as CA, CPA, ACCA, ACA)
Management, General Accounting (such as CMA,
CIMA, CGA)
Your Organization 100% 25%
Government 45% 39% 15% 24% 38% 17%
North America 32% 26% 16% 14% 41% 18%
Audit Staff Size: 1 to 5 67% 52% 45% 47% 58% 44%
Universe 33% 26% 14% 17% 41% 17%
Accounting - technician level (such
as CAT, AAT)
Fraud Examination (such as CFE)
Financial Services Auditing (such as CFSA, CIDA, CBA)
Fellowship (such as FCA, FCCA, FCMA)
Certified Financial Analyst (such as CFA)
Certification in Risk Management
Assurance (CRMA)
Other Certifications
Your Organization
Government 24% 15% 27% 10% 25% 25%
North America 9% 18% 14% 10% 7% 18% 27%
Audit Staff Size: 1 to 5 27% 52% 35% 31% 48% 70%
Universe 10% 19% 14% 15% 7% 18% 28%
Professional Designation Mix
Page 62
Benchmarking Report: Your Organization
SAMPLE
CIA Designation
Page 63
Benchmarking Report: Your Organization
SAMPLE
Internal Audit Hiring Practices
Page 64
Benchmarking Report: Your Organization
SAMPLE
Staff Turnover
Page 65
Benchmarking Report: Your Organization
SAMPLE
Training Hours
Page 66
Benchmarking Report: Your Organization
SAMPLE
Section 5: Sourcing
Benchmarking Report: Your Organization
SAMPLE
Chief Audit Executive Directors / Managers Seniors / Supervisors Staff Professional Staff Total Administration / Clerical
Total Positions
Your Organization 0 0 0 0 0 0 0
Government 0 0.01 0.08 0.49 0.58 0.05 0.63
North America 0 0.24 0.48 0.99 1.71 0.01 1.72
Audit Staff Size: 1 to 5 0.01 0.13 0.14 0.21 0.49 0.02 0.51
Universe 0.01 0.2 0.43 0.85 1.49 0.01 1.5
Sourced Staff Profile
Sourced Staff Profile
Page 68
Benchmarking Report: Your Organization
SAMPLE
Costs of Purchased Services
Page 69
Benchmarking Report: Your Organization
SAMPLE
Level of Sourcing
Page 70
Benchmarking Report: Your Organization
SAMPLE
General internal auditing Information technology (IT) auditing
Subject matter expertise Fraud auditing Other None
Your Organization
Government 21% 27% 33% 3% 12% 42%
North America 38% 55% 46% 6% 9% 24%
Audit Staff Size: 1 to 5 26% 40% 22% 3% 7% 33%
Universe 38% 51% 43% 8% 9% 24%
What Internal Audit Activities are Sourced
Page 71
Benchmarking Report: Your Organization
SAMPLE
Percentage of Audit Areas Sourced
Page 72
Benchmarking Report: Your Organization
SAMPLE
Sourced Hours and Fees
Page 73
Benchmarking Report: Your Organization
SAMPLE
Fees For Purchased Services
Page 74
Benchmarking Report: Your Organization
SAMPLE
Future Reliance on Sourcing
Page 75
Benchmarking Report: Your Organization
SAMPLE
Section 6: External Audit
Benchmarking Report: Your Organization
SAMPLE
External Audit
Page 77
Benchmarking Report: Your Organization
SAMPLE
Total IA Hours Spent on External Audit
Page 78
Benchmarking Report: Your Organization
SAMPLE
External Audit Fees as Percentage of Total Revenues, Assets, and Expenses
Page 79
Benchmarking Report: Your Organization
SAMPLE
Section 7: Internal Audit Oversight
Benchmarking Report: Your Organization
SAMPLE
Section 7.1: Internal Audit OversightChief Audit Executive
Benchmarking Report: Your Organization
CAE Administrative Reporting Line
Page 82
Benchmarking Report: Your Organization
SAMPLE
CAE Functional Reporting Line
Page 83
Benchmarking Report: Your Organization
SAMPLE
Title of Chief Audit Executive
Page 84
Benchmarking Report: Your Organization
SAMPLE
General internal auditing
IT auditing Fraud auditing Forensic investigations
Environment, Health, and
Safety
Compliance Risk management
Ethics and business conduct
Corporate social responsibility (sustainability)
Other
Your Organization
100% 100% 100%
Government 100% 91% 73% 18% 21% 67% 52% 45% 18% 27%
North America 99% 94% 75% 30% 11% 55% 43% 39% 12% 18%
Audit Staff Size: 1 to 5
98% 83% 66% 28% 7% 52% 43% 40% 14% 16%
Universe 99% 94% 73% 30% 15% 58% 47% 41% 16% 19%
Responsibilities of Chief Audit Executive
Page 85
Benchmarking Report: Your Organization
SAMPLE
Section 7.2: Internal Audit OversightAudit Committee
Benchmarking Report: Your Organization
Audit Committee
Page 87
Benchmarking Report: Your Organization
SAMPLE
Audit Committee Chair
Page 88
Benchmarking Report: Your Organization
SAMPLE
Audit Committee Meetings
Page 89
Benchmarking Report: Your Organization
SAMPLE
Private Sessions with Audit Committee
Page 90
Benchmarking Report: Your Organization
SAMPLE
Presence of Audit Committee Charter
Page 91
Benchmarking Report: Your Organization
SAMPLE
Selects the external auditor and reviews the
audit fees and the engagement letter
Reviews the external auditor's overall audit plan
Reviews preliminary annual and interim financial statements
Reviews results of engagements performed
by external auditors, including management
letter
Approves the charter of the internal audit activity
Reassesses and approves a new internal audit
activity charter annually
Your Organization 100% 100% 100%
Government 36% 85% 79% 85% 70% 58%
North America 91% 94% 92% 94% 94% 76%
Audit Staff Size: 1 to 5 79% 81% 74% 84% 78% 53%
Universe 87% 92% 89% 92% 91% 71%
Reviews and approves the internal audit activity's
plans and resource requirements
Directly communicates with the chief audit
executive who regularly attends and participates in
meetings
Reviews evaluations of risk management control
and governance processes as reported by the internal
auditors
Ensures that engagement results are given due
consideration and receive distributions of communications
Reviews policies on unethical and illegal
procedures
Reviews financial statements to be
transmitted to regulatory agencies
Your Organization
Government 73% 88% 88% 73% 52% 42%
North America 95% 97% 93% 75% 65% 74%
Audit Staff Size: 1 to 5 76% 84% 84% 60% 50% 59%
Universe 92% 93% 91% 71% 62% 71%
Participates in the selection of accounting
policies
Reviews the impact of new or proposed legislation or
regulations
Reviews the organization's insurance program
Considers evaluations of the effectiveness and
efficiency of information systems
Review performance of Chief Audit Executive
Reviews proposed compensation
Your Organization
Government 18% 33% 9% 61% 76% 39%
North America 31% 65% 29% 64% 81% 38%
Audit Staff Size: 1 to 5 21% 41% 28% 50% 62% 29%
Universe 34% 59% 28% 63% 79% 34%
Responsibilities of Audit Committee
Page 92
Benchmarking Report: Your Organization
SAMPLE
Financial and resource budgets
Financial variance analysis (actual versus budgeted
expenses)
Productivity measures Benchmark comparisons versus other companies
Organizational structure Coordination of internal and external audit plans
Your Organization
Government 87% 67% 67% 67% 73% 87%
North America 83% 49% 67% 59% 83% 80%
Audit Staff Size: 1 to 5 67% 27% 41% 39% 63% 61%
Universe 78% 46% 62% 53% 81% 76%
Risk assessment system Overall assessment of the corporate control environment
Coverage of key organizational risks
Fraud risks Assessment of fraud control environment
Your Organization
Government 87% 83% 83% 70% 80%
North America 72% 72% 81% 62% 48%
Audit Staff Size: 1 to 5 67% 69% 61% 41% 29%
Universe 70% 73% 79% 61% 47%
Overall audit plan Percentage of audit plan completed
Status of audits performed, outstanding issues, etc. ("Audit
Dashboard")
Results of monitoring programs concerning compliance with laws, codes of conduct, and
ethics
Significant findings from engagements
Your Organization
Government 97% 97% 97% 63% 93%
North America 100% 90% 97% 63% 98%
Audit Staff Size: 1 to 5 98% 84% 94% 53% 92%
Universe 99% 91% 96% 63% 97%
Information Shared with Audit Committee
Page 93
Benchmarking Report: Your Organization
SAMPLE
Professional Development of Audit Committee Provided by Internal Audit
Page 94
Benchmarking Report: Your Organization
SAMPLE
Evaluations of Audit Committee and Charter
Page 95
Benchmarking Report: Your Organization
SAMPLE
Financial Business management
Legal Industry-specific knowledge
Operational Information technology
Fraud/forensics Internal/external audit
Your Organization 100% 100%
Government 91% 91% 39% 76% 70% 45% 18% 58%
North America 97% 94% 32% 80% 73% 32% 9% 55%
Audit Staff Size: 1 to 5
86% 84% 26% 62% 62% 17% 12% 47%
Universe 95% 92% 33% 78% 71% 31% 11% 54%
Expertise Present on Audit Committee
Page 96
Benchmarking Report: Your Organization
SAMPLE
Section 8: Risk Assessment and Planning
Benchmarking Report: Your Organization
SAMPLE
Section 8.1: Audit Planning
Benchmarking Report: Your Organization
Audit Performance
Page 99
Benchmarking Report: Your Organization
SAMPLE
Percent of Audits Planned Actually Performed
Page 100
Benchmarking Report: Your Organization
SAMPLE
Number of Unplanned Audits
Page 101
Benchmarking Report: Your Organization
SAMPLE
Audits Per Auditor
Page 102
Benchmarking Report: Your Organization
SAMPLE
Allocation of Audit Plan
Page 103
Benchmarking Report: Your Organization
SAMPLE
Percent of Total Hours for Unallocated Time
Page 104
Benchmarking Report: Your Organization
SAMPLE
Percent of Management Requests Completed
Page 105
Benchmarking Report: Your Organization
SAMPLE
Type of Audit Plan
Page 106
Benchmarking Report: Your Organization
SAMPLE
Years Covered By Audit Plan
Page 107
Benchmarking Report: Your Organization
SAMPLE
Section 8.2: Risk Assessment
Benchmarking Report: Your Organization
Presence of Formal Risk Assessment Process for Internal Audit
Page 109
Benchmarking Report: Your Organization
SAMPLE
Frequency of Internal Audit Risk Assessment
Page 110
Benchmarking Report: Your Organization
SAMPLE
Degree of manual intervention / degree of automation
Confidence in management Extent of major change (reorganization, new product
line, etc.)
Sensitivity (e.g., image, public relations, etc.)
Employee turnover
Your Organization
Government 73% 61% 97% 85% 73%
North America 73% 66% 94% 70% 71%
Audit Staff Size: 1 to 5 64% 47% 79% 55% 55%
Universe 70% 61% 93% 70% 66%
Fraud significance / potential Inherent risk Environmental factors Competitive pressures Complexity of activities
Your Organization
Government 88% 85% 67% 27% 85%
North America 87% 86% 52% 43% 86%
Audit Staff Size: 1 to 5 74% 74% 28% 26% 78%
Universe 87% 86% 50% 40% 86%
Control environment Time since last audit Continuous auditing - risk and controls
assessments
Degree of financial materiality
Velocity Aggregation of risks Volume of transactions
Your Organization
Government 97% 85% 55% 85% 18% 64% 76%
North America 91% 81% 32% 92% 34% 61% 68%
Audit Staff Size: 1 to 5 81% 76% 22% 79% 24% 55% 59%
Universe 90% 84% 33% 90% 29% 60% 67%
Factors Influencing Risk Assessment
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Presence of Engagement Level Risk Assessments
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Engagement Level Risk Assessments
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Section 9: Audit Implementation / Life Cycles / Reporting
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Assurance engagements
Consulting engagements
Fraud investigations
Management requests
Follow-up audits and activities
External audit assistance
Chargeable time -- other
Non-chargeable time -- training
Non-chargeable time -- other
Absences
Your Organization
5% 5% 10% 10% 10% 10% 50%
Government 50% 4% 1% 4% 4% 1% 9% 6% 9% 12%
North America 52% 5% 3% 5% 4% 4% 6% 4% 8% 9%
Audit Staff Size: 1 to 5
48% 6% 4% 8% 5% 4% 6% 5% 7% 9%
Universe 52% 5% 3% 5% 5% 3% 6% 4% 7% 10%
Allocation of Audit Staff Time
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Audit Life Cycle
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Audit Life Cycle - Reporting
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Analytical review Balanced scorecard or similar framework
Benchmarking Computer-assisted audit techniques (CAAT)
Continuous auditing
Your Organization 100% 100%
Government 94% 42% 70% 76% 30%
North America 88% 16% 54% 68% 34%
Audit Staff Size: 1 to 5 84% 10% 47% 40% 16%
Universe 89% 16% 52% 66% 31%
Control self-assessment Data mining Flowchart software Process modeling software Statistical sampling
Your Organization
Government 33% 48% 55% 61%
North America 33% 57% 62% 4% 55%
Audit Staff Size: 1 to 5 24% 38% 41% 36%
Universe 35% 56% 58% 4% 56%
Quality assessment review tools Total quality management techniques Six sigma methodologies Electronic workpaper software
Your Organization
Government 36% 9% 15% 73%
North America 29% 6% 12% 67%
Audit Staff Size: 1 to 5 17% 2% 50%
Universe 29% 8% 11% 66%
Tools and Techniques Utilized on Audits
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Highlight repeat findings in audit
reports
Rate observations and findings
Rank observations and findings based on
likelihood and significance
Include management action plans
Provide an overall "score" for the audit
Provide an overall opinion on the audit
Include positive findings
Your Organization 100% 100%
Government 76% 76% 67% 97% 30% 79% 79%
North America 81% 78% 50% 97% 33% 75% 57%
Audit Staff Size: 1 to 5 66% 72% 45% 93% 31% 69% 52%
Universe 79% 81% 55% 96% 40% 78% 59%
Audit Engagement Reporting
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Section 9.1: Observations and Follow-Up Audits
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Audit Follow-Up Activities
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Days Outstanding for Open Items
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Opinion Activities
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Section 10: Performance Management
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Presence of Formal Quality Assurance and Improvement Program
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Section 10.1: Internal Quality Assessments
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Ongoing Reviews Periodic Reviews
Your Organization 100%
Government 55% 45%
North America 58% 42%
Audit Staff Size: 1 to 5 54% 46%
Universe 59% 41%
Frequency of Internal Quality Assessments
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Engagement supervision
Checklists Project budgets Timekeeping systems
Audit plan completion and summary reports
Cost recoveries Interviews and surveys
Benchmarking
Your Organization 100% 100% 100%
Government 94% 100% 64% 79% 85% 12% 73% 64%
North America 91% 89% 70% 66% 88% 14% 57% 64%
Audit Staff Size: 1 to 5
85% 72% 57% 52% 78% 13% 48% 41%
Universe 92% 88% 65% 63% 88% 14% 57% 63%
Tools Utilized for Internal Assessments
Senior management Audit committee Board of directors External auditors Other appropriate persons outside the activity
No one
Your Organization 100% 100% 100%
Government 79% 88% 27% 48% 39% 3%
North America 80% 88% 18% 40% 21% 8%
Audit Staff Size: 1 to 5 70% 73% 25% 30% 11% 16%
Universe 76% 86% 24% 39% 21% 9%
Results of Internal Assessments Shared With
Internal Quality Assessments
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Section 10.2: External Quality Assessments
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Completion of External Quality Assessment
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Obstacles of External Quality Assessment
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Performance of External Quality Assessments
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Senior management Audit committee Board of Directors External auditors Other appropriate persons outside the activity
No one
Your Organization 100% 100%
Government 93% 90% 48% 59% 38%
North America 94% 95% 26% 63% 31%
Audit Staff Size: 1 to 5 95% 80% 45% 50% 25%
Universe 90% 95% 35% 62% 31%
Results of External Quality Assessment Shared With
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Section 11: Subscribers By Industry Group
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