Characteristics of performance of small internal audit activities: The case study of organizations in Serbia

Abstract

Internal auditing should establish performance metrics and related measurement criterion appropriate to its environment/organization to measure the degree (including quality) of achievements of objectives for which the internal audit activity is established. The case study of the performance of small internal audit activities in Serbia reveals that high level of regulation contributes to the establishment of objectives which enhance credibility of internal audit activities, although they do not fully comply with the international auditing standards.