Performance evaluation will serve two major functions in our department. First, it will be used for employee development. The feedback that employees receive from the appraisal process should provide them with information they can use to improve job performance.
Second, performance appraisal provides bottom-line evaluations of employees that can be used for administrative decisions such as promotion, salary evaluation, recommendation for training, or remedial action.
Performance Evaluation Policy
All Internal Audit full-time appointed employees will have an evaluation of their work performance at least every semester and once a fiscal year. The results of these evaluations will be the primary means for administrative decisions.
Performance Evaluation Process
The evaluation process will be a twofold approach (interim evaluation and annual evaluation).
These evaluations will be performed in September and March respectively.
Specific factors that will be considered in the annual Performance Evaluation shall include:
• Audits
1. Total Chargeable Hours at department standard 2. Audit Completed Timely
3. Audit Within Budget hours
4. Working papers Technically Correct (Dept Standards) 5. Audits Performed according to standards
6. Hours at Audited Entity Location
• Professional Knowledge
1. Competent in required job skills and knowledge 2. Exhibits ability to learn and apply new skills 3. Exhibits sound and accurate judgment 4. Requires minimal supervision
5. Displays understanding of how job relates to others
• Professional Development
1. Keeps current on ABC Company Policies and Processes 2. Keeps current on ABC Company systems
3. Participates in available Continuing Education 4. Certified as CIA, CPA, ACCA
5. Keeps current with Accounting and Auditing trends
• Teamwork
1. Balances team and individual responsibilities 2. Exhibits objectivity and openness to others' views 3. Gives and welcomes feedback
4. Contributes to building a positive team spirit 5. Puts success of team above own interests
• Written Communication
1. Writes clearly, precisely and informatively 2. Edits work for spelling, grammar, and format 3. Varies writing style to meet needs
4. Follows standards for presenting elements of findings 5. Scope, Objective and Opinion consistent w/ work done 6. Selects and uses appropriate communication methods
• Oral Communication
1. Speaks clearly and persuasively 2. Listens and gets clarification 3. Responds well to questions
4. Demonstrates group presentation skills 5. Participates in meetings
6. Keeps others adequately informed
• Innovation
1. Displays original thinking and creativity 2. Meets challenges with resourcefulness 3. Generates suggestions for improving work 4. Develops innovative approaches and ideas
General comments could be made in the following areas:
• Adaptability
1. Adapts to changes in the work environment 2. Manages competing demands
3. Accepts criticism and feedback
4. Changes approach or method to best fit the situation
• Analytical Skills
1. Synthesises complex or diverse information 2. Collects and researches data
3. Uses intuition and experience to complement data 4. Identifies data relationships and dependencies 5. Designs work flows and procedures
• Attendance & Punctuality
1. Schedules time off in advance 2. Begins working on time
3. Keeps absences within guidelines
4. Ensures work responsibilities are covered when absent 5. Arrives at meetings and appointments on time
• Cooperation
1. Establishes and maintains effective relations 2. Exhibits tact and consideration
3. Displays positive outlook and pleasant manner 4. Offers assistance and support to co-workers 5. Works cooperatively in group situations 6. Works actively to resolve conflicts
• Cost Consciousness
1. Works within approved budget 2. Conserves organisational resources
3. Develops and implements cost saving measures 4. Contributes to profits and revenue
• Customer Service
1. Displays courtesy and sensitivity
2. Manages difficult or emotional customer situations 3. Meets commitments
4. Responds promptly to customer needs
5. Solicits customer feedback to improve service
• Dependability
1. Responds to requests for service and assistance
2. Follows instructions
3. Responds to management direction 4. Takes responsibility for own actions 5. Commits to doing the best job possible 6. Keeps commitments
7. Meets attendance and punctuality guidelines
• Initiative
1. Volunteers readily
2. Undertakes self-development activities 3. Seeks increased responsibilities
4. Takes independent actions and calculated risks 5. Looks for and takes advantage of opportunities 6. Asks for help when needed
• Judgment
1. Displays willingness to make decisions
2. Includes appropriate people in decision making process 3. Makes timely decisions
• Leadership
1. Exhibits confidence in self and others 2. Inspires respect and trust
3. Reacts well under pressure 4. Shows courage to take action 5. Motivates others to perform well
• Managing People
1. Provides direction and gains compliance 2. Includes subordinates in planning
3. Takes responsibility for subordinates' activities 4. Makes self available to subordinates
5. Provides regular performance feedback
6. Develops subordinates' skills and encourages growth
• Organisation Support
1. Follows policies and procedures
2. Completes administrative tasks correctly and on time 3. Supports organisation's goals and values
4. Benefits organisation through outside activities 5. Supports affirmative action and respects diversity
• Personal Appearance
1. Dresses appropriately for position
2. Keeps self well-groomed
• Planning & Organisation
1. Prioritises and plans work activities 2. Uses time efficiently
3. Plans for additional resources 4. Integrates changes smoothly 5. Sets goals and objectives 6. Works in an organised manner
• Problem Solving
1. Identifies problems in a timely manner 2. Gathers and analyses information skilfully 3. Develops alternative solutions
4. Resolves problems in early stages
5. Works well in group problem solving situations
• Project Management
1. Develops project plans 2. Coordinates projects
3. Communicates changes and progress 4. Completes projects on time and budget 5. Manages project team activities
• Quality
1. Demonstrates accuracy and thoroughness 2. Displays commitment to excellence
3. Looks for ways to improve and promote quality 4. Applies feedback to improve performance 5. Monitors own work to ensure quality
• Quantity
1. Meets productivity standards 2. Completes work in timely manner 3. Strives to increase productivity 4. Works quickly
5. Achieves established goals
• Safety & Security
1. Observes safety and security procedures
2. Determines appropriate action beyond guidelines 3. Uses equipment and materials properly
4. Reports potentially unsafe conditions
• Sales Skills
1. Achieves sales goals
2. Overcomes objections with persuasion and persistence 3. Initiates new contacts
4. Maintains customer satisfaction
5. Maintains records and promptly submits information
TRAINING AND PERSONAL DEVELOPMENT
Certification Programs
One aspect of professional development is obtaining professional certification as a Certified Public Accountant, Certified Internal Auditor, Certified Information Systems Auditor, or Certified Fraud Examiner. To increase the professionalism and credibility of the audit staff, the department supports employees' efforts in achieving certification through obtaining study aids and providing reimbursement for sitting for exams. Support is also given by making study time available during working hours and allowing time off to sit for exams. Professional certification is a factor used in the department's annual employee performance appraisal.
Professional development through certification, membership, and participation in professional organisations is encouraged. Internal Audit Department funds may be available and budgeted to support this activity.
Continuing Education
Internal Audit has a responsibility to provide for the most effective use of available continuing education funds in supporting staff member requests for professional training.
Process:
• Auditors should review seminar material.
• Staff members who desire to attend a particular seminar should (if total expenditures will exceed €100) complete the above mentioned form. (Requests to attend seminars that will cost less than €100 can be communicated informally to the Director.)
• The Director will make the decision for the expenditure based on availability of funds and the staff members’ current professional development responsibilities and
requirements in maintaining their technical competence and proficiency.