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Is it ok to benchmark your internal audit team?

Why assessing your team against the Internal Audit Competency Framework is a good idea

The success of an Internal Audit team is dependant on its people. Where the audit team fails to meet minimum standards, its unlikely that audit is adding any value to the organisation, nor is it providing the Audit Committee, Board and Management the assurance which they require.

To help ensure an audit team is continuously meeting its minimum standards, but also striving to improve, the Institute of Internal Auditors released the Internal Audit Competency Framework, which you can download here. As per the IIA website, "the IIA’s Internal Audit Competency Framework provides a clear and concise professional development plan for internal auditors at every level of their career".

Why use the IIA's Internal Audit Com