Re: Internal Audit key performance indicators

[BRET CARPENTER]

J. Tandi:   Steer clear of the # of Frauds unraveled as a SMART goal.  This could put you in a dangerous position.  Audit's primary job is not to detect fraud only.  Rather Internal Audit's job is to identify and point out control weaknesses and inefficiencies, which in some cases if not acted upon could leave an organization open to fraud in a particular area.    One possible thing you could consider is a "value add" calculation.  Since Internal Audit's job is to partner and not necessarily be a "detective" you could have a goal of looking for cost savings for the Company over a year.  For example, a goal of 1,000,000 in financial cost savings, this then could be presented in the recommendations in the reports.  Of course there are some recommendations that do not have a cost savings, rather they are preventative and this needs to be pointed out as well.  Even though you may not hit the goal, if you can show that the audits are paying for themselves, this may reduce the CEO's concern.  By the way, the items you listed as performance measures are basically what I am used to.  Good luck!   Bret Carpenter >>> "J. Tandi" <[EMAIL PROTECTED]> 04/05/02 06:45AM >>> Audit-l is sponsored by Audit Leverage by IAD Solutions, Inc. Audit Leverage is a department management software package that integrates and automates the entire audit process.  This comprehensive package includes risk assessment, audit planning, budgeting, staffing, scheduling, timekeeping, automated work papers, audit findings & recommendations, reporting and audit follow-up.  Audit Leverage allows auditors in the field to work off-line and dial in to synchronize their work with the Audit Leverage database on the network, enabling managers to review the work papers instantly without being at the job site. Demo available at www.auditleverage.com *************************************** My Boss who is the CEO would like me to come up with key performance indicators against which h would measure my performance. He requires them to be SMART ( specific, measurable, achievable, realistic and time based).I have gone through with him my annual plan, budget, etc but he insists these do not suffice. In my proposed indicators l have included such things as no of reports, recommendations implemented, budget performance, achieving set plan etc. This to him is not sufficient and he wants me to include such things as No. of frauds unravelled compared to previous years in dollars and quantity terms, reported against those determined by audit, etc. Can you suggest more indicators for me please. If your organization would like to sponsor this discussion list send an e-mail to [EMAIL PROTECTED] for information. To unsubscribe to the Audit-l list send an e-mail to [EMAIL PROTECTED] Leave the subject line blank and include the following message in the body: Unsubscribe audit-l (yourname) Thanks, Jim Kaplan List Manager