Evaluation of Internal Audit Performance by the Balanced Scorecard (Bs) Method
Keywords:internal audit; balanced scorecard method; internal audit function; internal audit strategy; risk management
The motivation of studying the ways in which the internal audit activity can be improved as well
as the impact that this activity has on the decisions of the entity is justified by the complexity of the internal
audit field as well as its rapid development. The evaluation of the efficiency and effectiveness of the internal
audit function is an important objective of the entity's management, and it must be carried out annually in
order to make this function more efficient and to determine the cost-benefit ratio. Analyzing the effective
ways of evaluating the performance of the internal audit presented in the specialized literature, two
methodological approaches of evaluating the performance of the internal audit were identified: a traditional
approach through the structure, quantitative and qualitative indicators, and an approach by the Balanced
Scorecard (BS) method, the latter being used in the presented study.
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