Standardize measurements and align business operations with balanced scorecards
The balanced scorecard is a system used to make sure business operations are aligned with the organization’s mission, vision, and strategy. Since it uses several measures to determine success, it helps everyone involved to balance what is achieved with how it is achieved. As a monitoring tool, it standardizes measurements, so managers and employees can use a common language to measure progress towards the achievement of organizational goals.
Internal audit departments have been using balanced scorecards for many years to help them maintain a quality assurance and improvement program covering every aspect of the internal audit activity (Standard 1300) and to make sure that audit activities are consistent with the organization’s goals (Standard 2010).
Learn what metrics to measure for a balanced scorecard and how they can help align business operations in the Measure the Performance of Internal Audit Departments Leadership Article. Download the rest of this article for free using the form below.