（1996）Benchmarking - a comparison of internal audit in Australia, Malaysia and Hong Kong.pdfVIP

Benchmarking – a comparison of internal audit in Australia, Malaysia and Hong Kong Barry J. Cooper Professor and Head, Department of Accountancy; Philomena Leung Associate Professor and Clive M.H. Mathews Senior Lecturer, all at the Royal Melbourne Institute of Technology, Australia Benchmarking is a continu- • Perform as though you have competi- ous process of comparing and Benchmarking – a definition tors for internal customers’ business. measuring an organization’s Benchmarking is the continuous process of 3 Using quality concepts to improve the audit business processes against comparing and measuring an organization’s process: those of business leaders business processes against those of business • Map existing activities. anywhere in the world. leaders anywhere in the world. The objective • Build in activities that respond to cus- Attempts to benchmark is to identify and understand best practices, tomers’ needs and expectations. internal auditing in Australia, and a best practice is, simply, the best way to • Involve all internal auditors in process Malaysia and Hong Kong. execute a process[1]. improvement, including identifying Bases the analysis on surveys Benchmarking is an effective business areas for improvement. undertaken in all three coun- strategy which has the potential to drive • Establish performance measures for tries. The surveys of both quantum improvements in internal auditing. the new processes. chief executives and internal