The following posting appeared in the Audit-l discussion list in August 2003:
I am tasked with the compilation of a Balanced Score Card for the Internal Audit Function, with particular emphasis on strategic goals rather than operational goals. Is there anybody who can share info in this regard. I am particularly challenged by the "measurement indicators/ tools".
I offered to establish a page on balanced scorecard for internal auditors as a clearinghouse for information, articles tools and resources. If you have something you would like to share on this subject contact us.
What is it?
The balanced scorecard is a management system (not only a measurement system) that enables organizations to clarify their vision and strategy and translate them into action. It provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results. When fully deployed, the balanced scorecard transforms strategic planning from an academic exercise into the nerve center of an enterprise. (Source: The Balanced Scorecard Institute)
Measuring Internal Audit Effectiveness and Efficiency - IPPF Practice Guide
Balanced Scorecard from ToolsHero - This article explains the Balanced Scorecard, developed by Robert Kaplan and David Norton, in a practical way. After reading you will understand the basics of this powerful strategy and performance management tool.