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audit services for improving institutional performance

audit services for improving institutional performance. Role of ia. Identify weaknesses Identify problems Provide advice . AREAS generally COVERED. Objectives Strategy Structure Budgeting process HR Decision making Development Marketing Information system Equipment and operations.

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audit services for improving institutional performance

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  1. audit services for improving institutional performance

  2. Role of ia • Identify weaknesses • Identify problems • Provide advice

  3. AREAS generally COVERED • Objectives • Strategy • Structure • Budgeting process • HR • Decision making • Development • Marketing • Information system • Equipment and operations

  4. PARTICULAR AREAS IN RESEARCH INSTITUTION • research administration • degree of documentation of practices and processes • information security, notably over private and sensitive data • formalization of practice and policy in areas: • institutional conflict of interest, • code of conduct • enterprise risk mitigation and management

  5. CHARACTERISTICS • Meaningful • Timely • Compliant with Auditing regulations • NO SUCH THING AS PERFECT ASSURANCE

  6. Expand roles • Advisor • Prognosticator • Aggregator • Efficiency specialist • Advocate • Subject matter specialist • Troubleshooter

  7. Cop, detective or counsel? • Cop – strengthen weak internal environment • Detective – identify problems, risks • Counsel – participative role, advise

  8. New trends in IA • Past focused – financial reporting, assessments • Present focused – cash flows • FUTURE FOCUSED: is the company ready for new burdens/challenges? • OUTSOURCING AUDITING • Cheaper • More objective • Flexibility

  9. COSts for externalization • 30 euro / hour • 180 hours / year • Around 5400 euro/year

  10. Management tools

  11. Three point estimation / PERT METHOD • Pessimistic estimation (P) 90 • Most probable (MP) 75 • Optimistic (O) 40 (P + 4 x MP + O)/6 = Medium (90+4 x 75 + 40)/6 = 71.66 Used by : Motorola, Honeywell, General Electric

  12. Three point estimation • Six Sigma System (6 Sigma) 68% chances of succes – value 1 95% chances of succes – value 2 99.7% chances of succes – value 3 99.9% chances of succes – value 6 Variation = Medium + (Standard deviation x Variation) Variation: (P-O)/6 = 8.33 For 95% chances – > 71.66 +(2x8.33) = 88.32

  13. Pert Diagram

  14. Pert Diagram

  15. 3 POINT ESTIMATIOn / PERT

  16. CRITICAL TIME METHOD

  17. The Fishbone diagram

  18. resources • http://www.federaltimes.com/article/20100808/ADOP06/8080304/ • http://www.corpgov.deloitte.com/binary/com.epicentric.contentmanagement.servlet.ContentDeliveryServlet/USEng/Documents/Audit%20Committee/Internal%20Audit/BrokenTriangle_042010.pdf • http://www.referenceforbusiness.com/encyclopedia/Kor-Man/Management-Audit.html • http://web.mit.edu/audiv/www/controls/internal_control_structure.html • http://www.ttaudit.ro/audit_ro.html • http://www.hydrop.pub.ro/Cursul4si5mpm.pdf • http://improhealth.tnuni.sk/fileadmin/Documents/Improvement_tools_RO/PERT_diagram_RO_.pdf • http://commons.wikimedia.org/wiki/File:Ishikawa_Fishbone_Diagram.svg?uselang=de • http://www.lucidchart.com/community/examples/view/4b071ecd-6d30-4f50-9b5a-1caa0af95e9f

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