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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

Presentation to the

State Agency Internal Audit Forum

May 18, 2012

Performance Measures for Internal Audit


Agenda

  • IALDP

  • Project Objectives

  • Performance Measures Defined

  • Four Categories of Performance Measures

  • Results of Survey

  • Best Practices

Agenda


Project objective

Determine what performance measures are used by Internal Audit functions and identify best practices

Project Objective


Performance measure

A quantifiable indicator of entity achievement that includes the specific types:

  • Outcome

  • Output

  • Efficiency

  • Explanatory/Input

Performance Measure


Survey

Survey



Four categories of performance measures

  • Performance Committee

  • Cost / Efficiency

  • Customer Satisfaction

  • Employee Development

Four Categories of Performance Measures


Performance

Included in this category were: Committee

  • 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


Cost efficiency

Included in this category were Committee:

  • Percentage of overall time spent on assurance and consulting services; and

  • Audit report released within required timeline .

Cost / Efficiency


Customer satisfaction

Included in this category were Committee:

  • Results of client satisfaction surveys;

  • Responsiveness to Board and Audit Committee requests; and

  • Leadership in providing information on governance, risk, and controls.

Customer Satisfaction


Employee development

Included in this category were Committee:

  • Percentage of audit staff with professional certifications; and

  • Percentage of audit staff meeting continuing professional education requirements

Employee Development







Best practices

Best Practices


Best practices cont

  • Engage the workforce Committee

  • Maintain flexibility

  • Assess the measures periodically

  • Report the measures

  • Keep it simple

Best Practices (cont.)


Conclusion

Conclusion


Questions
Questions? Committee


Betsy Schwing – [email protected] Mattingly – [email protected] Hardison - [email protected] Garcia – [email protected]


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