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#652599 - 12/15/06 07:56 AM Auditor Bonus
Simon Offline
Junior Member
Joined: Jan 2004
Posts: 47
FRANCE
I don't know if it is the right Forum to post such query?
My question is : Is it fair that the auditor bonus is subject to the bank's performance?, if he has finished his annual audit plan in time and fulfilled all his duties? Imagine a situation that the bank did not reach its objectives, and got bad results and on the other hand the auditor did a very good work during the same fiscal year... It is just a supposition

Thanks for your comments
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#652713 - 12/15/06 03:26 PM Re: Auditor Bonus Simon
#Just Jay Offline
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#Just Jay
Joined: Oct 2006
Posts: 14,389
Cheeseheadland
Are you talking the bank's financial performance, or exam performance? Is your bonus determination in writing?

We are incented based on the bank's financial performance...the better we do, the bigger the bonus, and vice versa.
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#652778 - 12/15/06 04:16 PM Re: Auditor Bonus Simon
JeffB Offline
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Joined: May 2003
Posts: 106
NC - On the Coast
Just my opinion, but it seems fair to me. My experience has been that if the bank has financial success, it MAY provide a bonus. I was more than happy to receive. I personally am more concerned that my annual merit raise is reflective of audit schedule completion, work performance, etc.

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#652902 - 12/15/06 06:34 PM Re: Auditor Bonus JeffB
Andy_Z Offline
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Andy_Z
Joined: Oct 2000
Posts: 27,348
On the Net
Bonuses are often based on the success of the bank. My bank had benchmarks where the better the performance, the better the bonus pool. That didn't assure any one individual of a better bonus, per se' as it was pooled. But I think you'd be fine with adequate audit independence and oversight.
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