Turnover for internal audit

Question

Accepted Answer

Turnover for internal audit refers to the rate at which employees leave the internal audit department and are replaced.

Turnover for internal audit can be calculated by dividing the number of employees who left the internal audit department by the average number of employees in the department during a specific period.
High turnover in internal audit can indicate potential issues such as lack of career growth opportunities, poor management, or work-life balance.
Low turnover in internal audit may suggest a stable and satisfied workforce, but could also indicate a lack of new talent entering the department.
It is important for finance managers to monitor turnover rates in internal audit to ensure the department is functioning effectively and retaining top talent.

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