5 internal audit KPIs you should be tracking

Automation doesn’t just translate to hours of savings. It also enables high-impact value shifts in internal audit responsibilities—like testing the full population vs. a sample, enabling continuous monitoring, and becoming a partner to the business instead of only focusing on compliance. But without leadership visibility into these benefits and clear goals in place to track, it might seem like you’re chasing automation for automation’s sake.  

To capture and share value, define a framework for showcasing automation ROI—think of it as your tool to establish goals, monitor progress, and quantify benefits throughout the span of your automation journey. Here are some things you might monitor: 

1. Cycle time acceleration: Reduction in process time—from start to finish 
2. Automation percentage: Portion of the end-to-end process that is automated instead of manually performed 
3. Cost reduction: Reduction in total cost to perform a process—from FTE cost to software and overhead 
4. Quality and value creation: Increased compliance, reduced error rates, better business insights, and higher employee and customer satisfaction 
5. Skillset redeployment: Assigning highly skilled resources to value-add activities 

For more tips on a leading practice internal audit transformation strategy, check out three considerations that lay the groundwork for success.