What statistics or KPIs are you reporting to your Committee and Executive Team? How frequently? Are they part of your performance management goals, directly affecting your annual performance review?
We are currently reporting quarterly on audit plan percentage completion, audit hours to total hours, and a roll forward on open audit findings (along with their age and priority levels). The only one tied to my performance review is audit plan percentage completion.
We are considering some other qualitative and quantitative statistics, but don't want to get too carried away since this all takes time to track.
Finally, is there a place to get good industry comparisons for these stats? I'm not aware of ACUARP accumulating that info from members, but an annual report of peer stats would be a great benefit. I'm a member of IIA but some of their content is limited to the higher-level executive membership.
If anyone would like to share their stats in the response or directly, my email is bfulop@uecu.org
If a bunch of them are received, I can summarize and send back out to those who participate.
Examples I'm considering:
- Audits completed per FTE
- Percentage of QAR categories meeting generally conforms
- Internal Auditors to Total Employees
- Internal Auditors to Total Assets
- Internal Auditors to Total Members
- Audit Services Total Cost to Total Operating Expenses
- Percentage completion of audit plan
- Audit hours to total hours available for audit staff
- These two wouldn't be comparable since we'd have different ways/frequency of doing these, but we have a couple of quarterly reviews we do:
- Quarterly loan review - average days to complete
- Quarterly insider account reviews - average days to complete
Thanks for your consideration!
Brenda
