When an internal auditor wants to compare her organization's governance processes to those of a well-known governance model, performing a gap analysis is the most effective approach. A gap analysis involves comparing the current state (the organization's existing governance processes) with the desired state (the well- known governance model). This analysis identifies the gaps or differences between the two, which can then be addressed to improve the organization's governance practices. It helps in pinpointing specific areas where the organization's practices fall short and need enhancement.
References:
* The IIA Standards: Standard 2130 - Governance: "The internal audit activity must assess and make appropriate recommendations to improve the organization's governance processes."
* IIA Practice Guide: "Assessing Organizational Governance in the Public Sector": Discusses the use of gap analysis to evaluate governance frameworks.