Integration between the balanced scorecard approach and the benchmark approach to enhance the strategic role of internal audit in activating and implementing corporate governance (case study)

Abstract

The aim of this study is to find a framework for the integration between entries of both Balanced Scorecard and Reference Measurement in order to enhance the strategic role of internal audit in activating and applying of corporate governance. To achieve this aim, a questionnaire was prepared and a sample of the study population, who belong to the Cement Sector in Libya, was selected. The number of participants was (40) whereas the number of respondents was (36);which means 90% of them. The methodology adopted was the descriptive and analytical approach using the Statistical Package for the Social Sciences (SPSS) to analyse the data. This study found that the development of internal audit by applying integrated framework of entries of both Balanced Scorecard and Reference Measurement would improve the performance of the internal audit profession. However, these two entries will play a positive role in raising the efficiency and effectiveness of the internal auditor's professional performance which can be reflected on strengthening of his/her role in activating the corporate governance.