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Question 273 - IIA-CIA-Part2 discussion

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During an audit of the human resources department, an internal auditor adopts benchmarking to test the employee turnover rate. How should the internal auditor apply this technique?

A.
Compare turnover m the organization to published turnover rates of peer organizations.
Answers
A.
Compare turnover m the organization to published turnover rates of peer organizations.
B.
Compare turnover in one period with turnover in the previous period in the organization
Answers
B.
Compare turnover in one period with turnover in the previous period in the organization
C.
Compare turnover in the period to total employees in the organization
Answers
C.
Compare turnover in the period to total employees in the organization
D.
Compare turnover with the auditor's general knowledge of the organization
Answers
D.
Compare turnover with the auditor's general knowledge of the organization
Suggested answer: A

Explanation:

When using benchmarking to test the employee turnover rate, the internal auditor should compare the organization's turnover rate to the published turnover rates of peer organizations. This method provides a relevant standard or point of reference to evaluate the organization's performance relative to similar entities. By using external benchmarks, the auditor can identify whether the turnover rate is above or below industry norms, which helps in assessing the effectiveness of the organization's HR practices.

The Institute of Internal Auditors (IIA) Practice Guide: Internal Audit and Organizational Performance

IIA Standard 1220 - Due Professional Care

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asked 18/09/2024
Donn Policarpio
43 questions
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