High-Risk Audit Findings Rate
Proportion of internal audit issues rated high or critical risk out of all findings raised
What is High-Risk Audit Findings Rate?
High-risk audit findings rate is the percentage of audit findings that are rated high or critical. It shows how serious the issues found by auditors are.
A high share means significant control weaknesses, while a falling share suggests improving control.
How this KPI is measured
- Function
- Finance
- Sub-function
- Internal Audit
- Industry
- All Industries
- Type
- Lagging
- Impact
- Risk
- Unit
- %
- Measurement frequency
- Quarterly / Annual
- Formula
- (High/critical findings / Total audit findings) × 100
How to calculate it
Divide high and critical findings by total audit findings, and multiply by 100.
For example, if 9 of 60 findings were rated high or critical, the rate is 15%.
Use the same rating scale each time, and read it with the number of findings, since a low percentage of a large number may still be a lot.
Where it is used
Assessing control strength
See how serious findings are.
Prioritising action
Focus on the worst.
Reporting to boards
Show risk exposure.
How to improve it
Tips and common mistakes
- Ratings should follow a consistent scale.
- Look at absolute numbers as well.
- Repeat high-risk findings are a serious warning.
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