kpmgAll information provided is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation.

©2006 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved.

Internal Audit Staff DevelopmentPartnering with Management to

Enhance Your Career

The IIA / Detroit ChapterPresented by: Patricia C. Maslov, Director

KPMG Advisory ServicesNovember 2007

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New ways of assessing and managing New ways of assessing and managing business risk are causing internal audit business risk are causing internal audit leaders to revisit the purpose, scope, and leaders to revisit the purpose, scope, and operations of the internal audit function.operations of the internal audit function.

2007 KPMG White Paper

“The Changing Role of Internal Audit”

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The Changing Role of Internal Audit

CFO AgendaCFO Agenda

Value preservation Value preservation → → Value creationValue creation

ERM / Integrated versus siloed risk managementERM / Integrated versus siloed risk management

New focus on fraudNew focus on fraud

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What Are IA Employees Looking For?

Interesting Work- I want work that challenges me, stimulates my intellect

Meaningful Work- I want work that satisfies my personal values or contributes to the

larger community Learning and Development

- I want opportunities to expand my knowledge or skills. Growth and Advancement

- I want to grow and advance in my career Recognition

- I want to be acknowledged for my contributions Financial Reward

- I want to know if my financial compensation is competitive Work / Life Balance

- I want a job that fits my lifestyle

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Career Development is about getting people Career Development is about getting people to where they want to be to where they want to be andand where the where the organization needs them to be.organization needs them to be.

2007 State of the Career Report

© BlessingWhite 2007

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Career Development Initiatives

The Work Itself

Learning and Development

Recognition and Rewards

Work / Life Balance

Career Planning

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The Work ItselfBuilding Ownership

Strategy

Involvement in Decisions

Stretch Assignments

360° Communication Jobs-at-a-Glance

Job Search and Postings

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The Work ItselfRotational Assignments

70% of Fortune 500 companies in the U.S. rotate staff in and out of their internal audit groups to try to exchange skills.

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Learning and DevelopmentSkills for Tomorrow… Today

Industry knowledge and functional expertise (strategic operational knowledge)

Cross-culture training for global IA functions Improved interpersonal skills to allow for effective

communication not only with process owners/line manager but also with C-level executives

ERM – risk management and evaluation Continuous auditing capabilities Fraud skills IT- automation of internal control environment Specific certifications – Six Sigma, CFE, CFA, CIA, CFSA,

CISA and others should be considered in augmenting internal audit staff

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Learning and DevelopmentA Portfolio of Solutions

Competency / Skills Profiles

Self-Study

Distance Education- Webcasts- Podcasts

Structured On-the-Job

Mentoring / Coaching

Rotational Assignments

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Learning and DevelopmentBuilding Networks

Success isn't based on who you know or what you know — it's how you leverage the "who" and the "what" that can make the difference in your career development.

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Learning and Development Traits of Successful Networkers

Quality vs. quantity Slow down Go low tech Diversity Introductions rule Practice 3rd party networking Zen Avoid 911 networking Make random "hello" calls Un-learn shyness

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Learning and Development Top Ten Networking Tips

10. Build it before you need it.

9. It's what you give, not what you can get.

8. Don't skimp on the details; they can make a huge difference

7. Do Your Homework.

6. Follow up!

5. Listen better than you speak.

4. Become an information HUB.

3. Master the art of small talk.

2. Think "out of the box" when building your networks

1. Be interesting!

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Learning and Development Peer-to-Peer Networks

We all learn better, trust more, and gravitate to the shared experiences of people at our level and in circumstances similar to ours.

There is incredible value in being able to tap into the collective experience of a group of trusted peers.

Strong networks foster deeper learning, so leaders who ignore the wisdom of their peers do so at their own peril.

Jim BoltFastCompany.com

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Recognition and Rewards

Successful Recognition and Reward Programs…

Know what people want

Are Consistently administered

Emphasize leader-inspired recognition- Praise in private, recognize in public

Viewed as an important component in the creation of an overall positive environment in which both employees and employer can thrive

What matters is what you do … and how you do it

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Work / Life

Healthy Living Time Off Programs Flexibility Special Offers and Discounts Family Resources Financial Matters Corporate Citizenship Building Your Career

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Building Your CareerBuilding Your CareerWhat Are Companies Doing?What Are Companies Doing?

Job postings Training/workshops Descriptions of job levels/grades/responsibilities Criteria for advancement Assessments for development planning Career coaching training for managers Mentoring programs Temporary assignments/rotations Published career paths or levels Brochures, printed guides/tips Online career planning tools Career coaches/consultants

2007 State of the Career Report

© BlessingWhite 2007

18©2006 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved.

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Patricia C. Maslov, DirectorKPMG Advisory Services201 445 9737pmaslov@kpmg.com