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Performance Measures for Internal Audit

Presentation to the State Agency Internal Audit Forum May 18, 2012. Performance Measures for Internal Audit. IALDP Project Objectives Performance Measures Defined Four Categories of Performance Measures Results of Survey Best Practices. Agenda.

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Performance Measures for Internal Audit

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  1. Presentation to the State Agency Internal Audit Forum May 18, 2012 Performance Measures for Internal Audit

  2. IALDP • Project Objectives • Performance Measures Defined • Four Categories of Performance Measures • Results of Survey • Best Practices Agenda

  3. Determine what performance measures are used by Internal Audit functions and identify best practices Project Objective

  4. A quantifiable indicator of entity achievement that includes the specific types: • Outcome • Output • Efficiency • Explanatory/Input Performance Measure

  5. Institute of Internal Auditors Austin Chapter Research Committee • December 2011 • 76 Responses • Six Countries Survey

  6. Respondents by Industry

  7. Performance • Cost / Efficiency • Customer Satisfaction • Employee Development Four Categories of Performance Measures

  8. Included in this category were: • Percentage of Audit Plan projects completed; • Results of external quality assurance review; • Annual performance appraisal of the Chief Audit Executive; • Number of recommendations implemented; and • Planned for the future. Performance

  9. Included in this category were: • Percentage of overall time spent on assurance and consulting services; and • Audit report released within required timeline . Cost / Efficiency

  10. Included in this category were: • Results of client satisfaction surveys; • Responsiveness to Board and Audit Committee requests; and • Leadership in providing information on governance, risk, and controls. Customer Satisfaction

  11. Included in this category were: • Percentage of audit staff with professional certifications; and • Percentage of audit staff meeting continuing professional education requirements Employee Development

  12. Respondents With Metrics in Multiple Categories

  13. Performance Metrics

  14. Cost/Efficiency Metrics

  15. Customer Satisfaction Metrics

  16. Employee Development Metrics

  17. Measure performance • Measure different categories • Measure what matters • Monitor progress Best Practices

  18. Engage the workforce • Maintain flexibility • Assess the measures periodically • Report the measures • Keep it simple Best Practices (cont.)

  19. Different shops use different measures • Only you can determine what performance measures are best for your audit shop • One size does not fit all Conclusion

  20. Questions?

  21. Betsy Schwing – betsy.schwing@tdhca.state.tx.usScott Mattingly – scott.mattingly@dps.texas.govMike Hardison - michael.hardison@tceq.texas.govEleazar Garcia – eleazar.garcia@tjjd.texas.gov

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