How to measure and communicate the value of internal audit

Internal audit, like all other departments in a company, is seen as an investment that is expected to generate meaningful returns. But unlike departments where the return on investment (ROI) can easily be calculated and traced back to the bottom line, internal auditing is faced with the challenge of assessing the inherent qualitative benefits of their work: compliance with laws, risk reduction, process improvements or the provision of security through security against the quantitative costs incurred such as wage, travel, software and training costs.

While each internal audit function faces different perceptions and unique value expectations, all internal audit teams can use a cost-benefit analysis to measure, increase and communicate their value and ultimately their ROI.

Read more about the possibility of a cost-benefit analysis for internal auditing in this article by The Institute of Internal Auditors.