Internal Audit Allocation 2024/25                                                                                 

 

DESCRIPTION	DAYS 2024/25	DAYS 2023/24	VARIANCE	NOTES
Total available days	1,040	1,040	0	1
Total lost days	264	238	25	2
Total non-chargeable days	110	90	0	3
Total chargeable days	666	712	(25)	4
Total lost, non-chargeable, chargeable days	1,040	1,040	0
Proportion of chargeable days	64%	68%	(4%)
Proportion of non-chargeable days	11%	9%	2%
Proportion of lost days	25%	23%	2%

 

Notes                                                                                          

 

1.    Total available days is the full-time hours (260 working days) for one internal audit and risk manager and three auditors, which remains unchanged from the prior year.

 

2.    Total lost days includes annual leave, public holidays (including office shutdown), and other planned/unplanned leave (e.g., sickness, medical appointments, paternity leave). The amount is affected by carry forward of leave, purchase of additional leave (maximum five days each annual leave year), and the allocation of one additional days’ leave from April 2024.

 

3.    Total non-chargeable days comprises administration (e.g., performance management, recruitment), meeting attendance, and training and development. Total days is slightly higher due to additional planned training for the team during the year.

 

4.    Total chargeable days includes planned (key financials, audit, and advisory work) and unplanned work (e.g., consultancy, investigations, and contingency), ad-hoc advice, management actions follow up, and audit management (e.g., quality assurance, reporting, methodology). Total chargeable days is slightly lower in 2024/25 due to a higher number of lost days, and a higher training days allocation.