Please use this identifier to cite or link to this item: https://www.um.edu.mt/library/oar/handle/123456789/82407
Title: The applicability of benchmarking in local internal audit units : an evaluation
Authors: Balzan, Lara (2005)
Keywords: Total quality management -- Malta
Benchmarking (Management) -- Malta
Auditing, Internal -- Malta
Issue Date: 2005
Citation: Balzan, L. (2005). The applicability of benchmarking in local internal audit units : an evaluation (Bachelor’s dissertation).
Abstract: Purpose: The organisation-wide drive towards Total Quality Management (TQM) and the call for sound corporate governance require that local internal audit (IA) units benchmark their operations as a first step towards the critical evaluation of their processes and the management of change. This study sets out to establish the extent to which local IA units have embraced the benchmarking philosophy and examine the manner in which this TQM tool is employed. Design: The objective of this study is achieved through a series of semi-structured interviews with 12 local IA executives representing most of the IA units of Maltese companies. Findings: From the study it emerges that local IA executives have a weak grasp of the benchmarking concept and that current IA performance evaluation techniques are mere rudimentary comparisons, essentially backward- and inward-looking in nature. Although there is a trace of survey-based benchmarking in the local IA scenario, the current situation is yet a long way from what IA units really need to do, in order to grow and improve. Value: While local IA executives feel the need to evaluate IA quality, are fully aware of the benefits that benchmarking can offer, and are willing to adopt such a concept, there are organisational and cultural barriers that are leaving local IA executives out of reach of its potential benefits. This study recommends regulatory and organisational changes for overcoming such barriers to implementation.
Description: B.ACCTY.(HONS)
URI: https://www.um.edu.mt/library/oar/handle/123456789/82407
Appears in Collections:Dissertations - FacEma - 1959-2008
Dissertations - FacEMAAcc - 1983-2008

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