<Li> Technology: IA functions use a variety of technology tools / software to support audit process workflow, statistical analysis, and obtaining data from systems . </Li> <P> Building the IA strategy may involve a variety of strategic management concepts and frameworks, such as strategic planning, strategic thinking, and SWOT analysis . </P> <P> The measurement of the internal audit function can involve a balanced scorecard approach . Internal audit functions are primarily evaluated based on the quality of counsel and information provided to the Audit Committee and top management . However, this is primarily qualitative and therefore difficult to measure . "Customer surveys" sent to key managers after each audit engagement or report can be used to measure performance, with an annual survey to the Audit Committee . Scoring on dimensions such as professionalism, quality of counsel, timeliness of work product, utility of meetings, and quality of status updates are typical with such surveys . Understanding the expectations of senior management and the audit committee represent important steps in developing a performance measurement process, as well as how such measures help align the audit function with organizational priorities . Independent peer reviews are part of the quality assurance process for many internal audit groups as they are often required by standards . The resulting peer review report is made available to the Audit Committee . </P> <P> The Chief Audit Executive (CAE) typically reports the most critical issues to the Audit Committee quarterly, along with management's progress towards resolving them . Critical issues typically have a reasonable likelihood of causing substantial financial or reputational damage to the company . For particularly complex issues, the responsible manager may participate in the discussion . Such reporting is critical to ensure the function is respected, that the proper "tone at the top" exists in the organization, and to expedite resolution of such issues . It is a matter of considerable judgment to select appropriate issues for the Audit Committee's attention and to describe them in the proper context . </P>

The audit committee of an organisation has charged the director of internal auditing