Audit Findings Closure Rate
Percentage of internal audit findings closed within the agreed remediation timeframe
What is Audit Findings Closure Rate?
Audit findings closure rate is the percentage of audit findings resolved by the agreed deadline. It shows how quickly and reliably an organisation acts on the issues auditors raise.
Findings left open mean known risks remain, so closure is a key sign of a healthy control environment.
How this KPI is measured
- Function
- Finance
- Sub-function
- Internal Audit
- Industry
- All Industries
- Type
- Lagging
- Impact
- Risk
- Unit
- %
- Measurement frequency
- Quarterly
- Formula
- (Audit findings closed on time / Total audit findings raised) × 100
How to calculate it
Divide audit findings closed on time by total audit findings raised, and multiply by 100.
For example, if 45 of 60 findings were closed by their agreed date, the rate is 75%.
Agree an owner and a date for each finding, and check that closures are genuinely verified rather than just marked done.
Where it is used
Managing control improvement
Track fixes.
Reporting to audit committees
Show progress.
Holding owners to account
Follow up on overdue actions.
How to improve it
Tips and common mistakes
- Closing on paper is not the same as fixing the issue.
- Prioritise high-risk findings.
- Watch repeat findings.
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