Audit-l is sponsored by Audit Leverage by IAD Solutions, Inc. ***************************************
To continue with Joseph points.. Who do you report to..the audit committee...the CEO...who? This makes a difference in expectations from audit performance. If you report to the audit committee...then it seems to me that the CEO and Audit Committee have a disconnect ( ie CEO wants more fraud type auditing and the Audit Committee want traditional audit coverage). If there is no audit committee and you report to the CEO...then there is a disconnect between you and the CEO. Maybe he wants a fraud auditor and not a traditional auditor? What does your job description state? If if states nothing about fraud..then it sounds like you are in compliance with your job description. If it mentions fraud a lot...then maybe this job is not for you. You might want to also get more specifics on the criteria for SMART from the CEO. Seems to me that he only mentioned fraud. Anything else? Please be specific. Also, maybe you need to do a better job educating the CEO on what the *traditional* audit function is. Maybe he will change his *tune* after you educate him. Tony CIA,CISA,CDP,MBA IT Security Manager >From: "Joseph Cozzolino" <[EMAIL PROTECTED]> >To: <[EMAIL PROTECTED]>, <[EMAIL PROTECTED]>, ><[EMAIL PROTECTED]>, <[EMAIL PROTECTED]> >Subject: RE: Internal Audit key performance indicators >Date: Fri, 05 Apr 2002 09:32:52 -0500 > >I've been reading all responses to Sharon's post. The concensus, with which >I agree, is that the primary focus of the audit function is not to detect >fraud, but rather to add value to your auditee's operations through >partnering, finding ineffciencies, gathering information, offering >solutions to management. The days of solely looking and reporting on >controls (the policeman role) are behind us. Most fraud is discovered by >accident. But you must understand the angle from which your CEO is coming. > He's a numbers guy, dollar numbers to be more specific, and you should >focus on dollars saved through recommendations on efficiency improvements >and costs savings to give him the comfort level he seeks. > > > > >ge 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 > >*************************************** > >Two indicators that we use that are not really mentioned but may help are: > >Timely issuance of reports >Value of operational/financial cost savings/reductions/recommendations > > > > -----Original Message----- > > From: [EMAIL PROTECTED] > > [ SMTP:[EMAIL PROTECTED]] > > Sent:Friday, April 05, 2002 8:54 AM > > To: [EMAIL PROTECTED] > > Cc: [EMAIL PROTECTED] > > Subject:Re: Internal Audit key performance indicators > > > > 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 > > > > *************************************** > > > > > > 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 > > > > > > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ > > Sharon J. Haapala, CIA, Auditor > > Internal Audit Department > > Michigan Technological University > > 906-487-1994 > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ > > > > > > > > > > > > > > > > > > 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 > >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 _________________________________________________________________ MSN Photos is the easiest way to share and print your photos: http://photos.msn.com/support/worldwide.aspx 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 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
