NEW SMARTKPIS.COM REPORT RANKS THE TOP COMPLIANCE AND AUDIT MANAGEMENT KPIS OF 2011- 2012
May 21, 2013, Melbourne, Australia – The KPI Institute, the global authority on Key Performance Indicators (KPIs) research and education announces the launch of a new report in its 2011-2012 edition of its popular Top 25 series of reports. The series is based on research conducted through www.smartKPIs.com, which contains over 20,000 Key Performance Indicator examples, making it the world’s largest source of thoroughly documented KPIs.
Compliance and Audit refer to conducting business activities according to established guidelines, specifications or legislation. Depending on the type of the organization – public or private, auditors check its output against certain characteristics. The two terms, although different, are closely connected: compliance audits check on the implementation of written manuals, procedures and work instructions, while the management audit focuses on results, evaluating the effectiveness and suitability of controls, by challenging underlying rules, procedures and methods.
The “Top 25 Compliance and Audit Management KPIs of 2011-2012” report provides insights in the state of Compliance and Audit Management KPIs performance measurement today by listing and analyzing the most visited KPIs out of the more than 50 KPIs in this category on smartKPIs.com in 2011-2012. In addition to KPI names, the report contains a detailed description of each KPI, as documented in smartKPIs Premium.
Compliance and Audit Management KPIs are reflective of Compliance and Audit Management functions, and are grouped into subcategories, such as Internal Control, Compliance Policy Awareness, Penalties, Non-compliance Issues, Audit Frequency and Diligence. From these subcategories, Internal Control and Compliance Policy Awareness were the most popular of Compliance and Audit Management, in 2011. One of the most important benefits that this report brings is the international perspective it offers on the most popular KPIs for Compliance and Audit Management. Compliance and Audit Management KPIs provide quantifiable measurements of factors determined to be important for Compliance and Audit Management strategy successful implementation. The skill in applying KPIs is in the selection of the optimum number and appropriateness of KPIs. The top 5 Compliance and Audit Management KPIs in this report are:
- # Frequency of inventory audit
- % Deals where current state due diligence is performed
- % Regulatory fines due to billing noncompliance
- % Coverage of total audit universe
- % Updated policy and procedures
By discussing the use of KPIs today, presenting the best practice in documenting them and listing the most popular KPIs of 2011, the “Top 25 Compliance and Audit Management KPIs of 2011-2012” report is a valuable resource in promoting the informed use of KPIs or refreshing the existing performance measurement and management practice in any organization.
According to Aurel Brudan, The KPI Institute’s CEO “The Top 25 Compliance and Audit Management KPIs of 2011-2012 report is a synthesis of what smartKPIs.com is all about: it provides an overview of how Compliance and Audit Management KPIs are used in practice today, by combining input from the online community with analysis and insights from our research team.”
http://www.smartkpis.com is the leading online platform for performance management knowledge integration, hosting the largest database of thoroughly documented KPI examples available on the web today. It offers high quality resources and collaboration functionality for the community of members, assisting them in making smart decisions regarding their performance management initiatives. Registration is free and enables research, learning and interaction as part of a growing community of members from over 190 countries and territories.
ABOUT THE KPI INSTITUTE
The KPI Institute is a research, publishing and educational provider specialized in developing better practice in the use of KPIs. It developed the KPI Management Framework and runs five main research programs, dedicated to performance management, the Balanced Scorecard, KPIs, analytics and organizational strategy. Over the last 8 years, The Institute assisted over 5,000 organizations in finding solutions to their KPI needs.
Cipriana Turcanu, The KPI Institute, Tel: +61 3 9670 2979, Email: [email protected]