Metrics Utilization in Federal Audit Organizations
Utilizing metrics in audit organizations is crucial for performance evaluation and strategic planning. Factors to consider include reliability of data, stakeholder priorities, and providing solutions for organizational challenges. Common metrics such as cost savings, cycle time, client satisfaction, workforce surveys, and recommendations impact audit quality. Balancing these metrics is essential for achieving organizational objectives and maintaining effectiveness.
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Use of Metrics in an Audit Organization Federal Audit Executive Council Training Conference 9 September 2011 1
GENERAL GUIDLINES Need to tie to strategic plan Need to incorporate in performance plans Factors to consider include: Reliability of data sources Ability to manipulate Stakeholders priorities Providing Solutions for Army Challenges 2
COMMON METRICS Cost savings Cycle Time Client Satisfaction Workforce Climate Survey Recommendations Fixed the Problem Audit Quality? Providing Solutions for Army Challenges 7 September 2024 3
Cost Savings Most commonly used Easiest to demonstrate value Often small portion of audit plan Over focus can cause organization to ignore non-monetary high risk areas. Providing Solutions for Army Challenges 7 September 2024 4
CYCLE TIME Every audit organizations Achilles Heel Hard to determine correct goal If over emphasized can affect quality Actions you can take to reduce it: Better planning More and early interaction with auditee Writing early Providing Solutions for Army Challenges 7 September 2024 5
CLIENT SATISFACTION Useful for obtaining information to improve service to the client. Emphasizes need to engage client Hard to get honest feedback If over-emphasized can cause auditors to lose objectivity. Providing Solutions for Army Challenges 7 September 2024 6
WORKFORCE SURVEY Helpful to assessing health of organization. Can provide actionable information. Gives you quantifiable way to assess managers leadership skills. Need to take actions as a result of feedback received. Providing Solutions for Army Challenges 7 September 2024 7
RECOMMENDATIONS FIX THE PROBLEM Important to assessing impact of audits. Verifiable way to determine if recommendations corrected condition and if savings were achieved. It is a lag indicator. Takes an investment of resources. Providing Solutions for Army Challenges 7 September 2024 8
AUDIT QUALITY Toughest area to define criteria. Sen Grassley s office developed a set of criteria that included: Relevance Connecting the Dots on the Money trail Strength &accuracy of recommendations Fraud & Waste meter Timeliness Providing Solutions for Army Challenges 7 September 2024 9
CONCLUSION What you measure is what gets done so make sure you are measuring the right things and understand the second and third order affects of those measures . Providing Solutions for Army Challenges 7 September 2024 10
