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In my opinion, the audit department should not be judged by the number of
frauds uncovered. While the audit department is responsible to be alert
for fraud, it is my understanding that looking for fraud is not the primary
focus. In addition, while the audit department makes recommendations to
strengthen internal controls, it is management's decision whether to
implement those recommendations since they own the affected processes.
Thus, the number of frauds discovered could be included as a performance
measure in evaluating management, but I do not think it would be an
appropriate measure of performance for the audit department. These
statements are just my opinion and I welcome other opinions.
Sharon Haapala
<[EMAIL PROTECTED]> To: [EMAIL PROTECTED]
Sent by: cc:
[EMAIL PROTECTED] Subject: Re: Internal Audit key
performance indicators
ditnet.org
04/05/02 07:11 AM
At 01:45 PM 4/5/02 +0200, you wrote:
My Boss who is the CEO would like me to come up with key performance
indicators against which h would measure my performance.
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.
I'd be very interested in hearing more ideas in this area. Some of the
indicators mentioned above make me a bit nervous. I'm a university
auditor, and some years I may not complete as many audits as other years,
simply due to the nature of the audits - how long they take, complicated
issues that might arise. Similarly, I don't find fraud every year - we're
a small university that has excellent internal controls and audit trails.
If I had fewer audit reports issued and no frauds, would that mean I'm
doing poorly?
Just food for thought - please share any info you receive.
Sharon
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Sharon J. Haapala, CIA, Auditor
Internal Audit Department
Michigan Technological University
906-487-1994
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