Latest News

HIAF Benchmarking Survey 2007

In 2007, HIAF undertook a benchmarking exercise on internal audit functions. Despite a disappointing response rate, the results make for interesting reading.

HIAF surveyed its members in 2007 to gauge the level and extent of internal audit functions currently being performed in the housing association sector. There are the results:

• Of the respondents, 35% had no internal auditors, 16% had 1 internal auditor, 10% had 2 internal auditors, 6% had 3 internal auditors and the rest had increasing numbers. The size of units impacted on the positions held (such as Head of Internal Audit, Audit Manager, and Senior Auditor etc.
• Two thirds of internal audit unit spent between 30% and 80% of their time focusing on internal audit, some stating they spend more time, and strangely around 10% spending less than 30% of their time on internal audit. Another use of internal audit time included risk management, occupying up to 40% of available time.
• The average number of audit assignments varied between 1-5 and 60, a large majority of units undertaking less than 30, and 20% undertaking less than 5.
• Around 40% of units reported to the chief executive, and only 20% reported to the finance director.  

HIAF is considering whether it is useful to be involved in further benchmarking exercises. One difficulty is that like for like comparisons may be difficult given the range in sizes of housing organisations and the differing forms of provision, such as fully in house, fully contracted out and various hybrid models.

If you have any thoughts or comments regarding the above, then please contact HIAF’s chair, Gordon Mattocks

Back to news page