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#208700 - 07/08/04 03:12 PM How to measure the value add?
Anonymous
Unregistered

I am manager internal audit at a South African bank and have been asked to present a paper on 'How does internal audit add value to the organisation'. We all know the answer, but how does one measure this?

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Audit
#208701 - 07/08/04 10:31 PM Re: How to measure the value add?
wlavoie Offline
Gold Star
wlavoie
Joined: Jul 2002
Posts: 338
Hell's Canyon
I don't know if this helps, but it is from the Auditnet site and was written by Ralph Kolts:

IT TAKES A SPECIAL PERSON TO BE AN AUDITOR

(I wrote the attached as a year-end thank-you to my staff. It talks about
the important work done by internal audit and the special people who do it.
I've given it the title: It Takes a Special Person to be an Auditor. These
are things required of an auditor that you will never see in a job
description.)

The job of an internal auditor is to evaluate, analyze, reach conclusions,
and provide objective opinions. The job is like that of a doctor, assessing
the health of the company, diagnosing illness, and prescribing a course to
recovery. To do this, the auditor must possess special qualities:

* An auditor is multi-skilled, understanding every part of the business,
and closely aligned with business objectives.

* An auditor has the ability to sift through minute detail, while keeping
the big picture in mind.

* The auditor faces difficult problems and often times difficult people,
while maintaining the cool calmness that comes with experience and
self-confidence.

* The auditor is the shinning example of commitment, dedication,
contribution, and hard work - because everyone is watching to see if the
auditor stumbles.

* An auditor has thick skin, a controlled temper, natural curiosity,
unforgiving tenacity and even a sense of humor.

* Auditors maximize the synergy that comes from team effort, sharing their
own knowledge and expertise for collective success, while maintaining their
unique individualism.

* The auditor's customer is . . . well, everyone.

* An auditor is a lifetime student, always learning new technologies and
continuously improving.

* An auditor is able to build positive working relationships with those who
may see them as a distraction - earning, everyday, the trust and respect of
wary and suspect minds.

* Troubles are part of the job; it just goes with the territory. The
auditor sees each problem as an opportunity, deflecting obstacles like a
super hero deflects bullets.

* An auditor is a quantitative analyst, critic, ethicist, economist,
engineer, detective, change agent and above all the consummate professional.

* When faced with a dilemma, the auditor resorts to clear thinking and
level headed decision-making.

* An auditor is an expert project manager, able to plan, organize, and
execute complex projects - on schedule, while juggling several other
equally complex projects at the same time.

* Auditors are not afraid to tackle unpleasant tasks. They ask the tough
questions.

* An auditor is an accomplished communicator, and an even better listener.

* Waste, poor quality, inefficiency, and unmanaged risk are the enemies of
every auditor.

* Rewards, recognition, and even a simple "thank-you" can be few and far
between. The auditor's job satisfaction comes from knowing the results of
their work adds value and prevents bad things from happening.

* The auditor always represents the best interests of the company and
leadership, while encouraging excellence from each organization, and
nurturing the best talents and effort from every individual.

* An auditor does all this while being under appreciated, under informed,
isolated and sometimes excluded.

The job of an internal auditor is special and not just anyone can do it. It
is a profession filled with excitement and purpose; important work, that
demands special people to carry it out. Yes, it takes a special person to
be an auditor.
_________________________
Wendy LaVoie

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#208702 - 07/08/04 10:53 PM Re: How to measure the value add?
Czargazer Offline
Gold Star
Czargazer
Joined: May 2003
Posts: 298
Pacific Northwest
Hear hear! That brought a tear to my eye, and there isn't much more to say about it.
_________________________
Everyone has to make a living, mine just happens to involve thumbscrews.

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#208703 - 07/09/04 02:13 AM Re: How to measure the value add?
Risk Officer Offline
100 Club
Joined: Apr 2001
Posts: 205
Dallas
Here is an article on adding value from PriceWaterhouseCoopers.
_________________________
My opinions are just that...my opinions.

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