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tability.ioWhat are Audit And Control Team OKRs?
The Objective and Key Results (OKR) framework is a simple goal-setting methodology that was introduced at Intel by Andy Grove in the 70s. It became popular after John Doerr introduced it to Google in the 90s, and it's now used by teams of all sizes to set and track ambitious goals at scale.
Creating impactful OKRs can be a daunting task, especially for newcomers. Shifting your focus from projects to outcomes is key to successful planning.
We have curated a selection of OKR examples specifically for Audit And Control Team to assist you. Feel free to explore the templates below for inspiration in setting your own goals.
If you want to learn more about the framework, you can read our OKR guide online.
Audit And Control Team OKRs examples
We've added many examples of Audit And Control Team Objectives and Key Results, but we did not stop there. Understanding the difference between OKRs and projects is important, so we also added examples of strategic initiatives that relate to the OKRs.
Hope you'll find this helpful!
OKRs to enhance transparency in Sanction Companies' reports
ObjectiveEnhance transparency in Sanction Companies' reports
KRImprove accuracy of reports by reducing data errors by 25%
Implement stringent data input validation checks- Train staff on proper data entry guidelines
- Conduct routine data quality audits and cleaning
- KRRoll out a comprehensive training program for 80% of the reporting team
- Identify team members requiring the training program
- Schedule and conduct training sessions
- Develop detailed, comprehensive training materials
- KRInitiate 100% verification process for all Sanctions data entries
- Train data entry personnel on the verification process
- Develop a comprehensive verification protocol for sanctions data
- Implement the verification process across all data entries
OKRs to improve effectiveness and quality of assurance audits
- ObjectiveImprove effectiveness and quality of assurance audits
- KRReduce audit errors by 10% through augmented review processes
- Train reviewers on common audit errors
- Regularly update and refine review guidelines
- Implement stringent quality checks in the review process
- KRIncrease audit accuracy by 15% by implementing a new quality control system
- Train all team members on new system
- Install and configure the new system
- Research and select an effective quality control system
- KRConduct comprehensive assurance training for audit staff to bolster their audit skills
- Coordinate and conduct the training sessions
- Design an extensive assurance training program
- Identify specific skills gaps within the current audit staff
OKRs to enhance pre-audit inspection for REV Vistex controls efficiency
- ObjectiveEnhance pre-audit inspection for REV Vistex controls efficiency
- KREffectively implement at least 3 improvement suggestions by the end of the quarter
- Execute strategy and track progress
- Identify improvement suggestions from stakeholders
- Develop implementation strategy for suggestions
- KRIdentify 10 potential efficiency improvement areas in the Vistex controls testing process
- Analyze current Vistex controls testing process thoroughly
- Identify repetitive steps and potential automation opportunities
- Study error rates and uncover their causes
- KRReduce issues discovered during actual audit by 20%
- Increase education and training on audit requirements
- Implement regular self-audits to identify potential issues
- Strengthen internal controls to improve accuracy
How to write your own Audit And Control Team OKRs
1. Get tailored OKRs with an AI
You'll find some examples below, but it's likely that you have very specific needs that won't be covered.
You can use Tability's AI generator to create tailored OKRs based on your specific context. Tability can turn your objective description into a fully editable OKR template -- including tips to help you refine your goals.
- 1. Go to Tability's plan editor
- 2. Click on the "Generate goals using AI" button
- 3. Use natural language to describe your goals
Tability will then use your prompt to generate a fully editable OKR template.
Watch the video below to see it in action 👇
Option 2. Optimise existing OKRs with Tability Feedback tool
If you already have existing goals, and you want to improve them. You can use Tability's AI feedback to help you.
- 1. Go to Tability's plan editor
- 2. Add your existing OKRs (you can import them from a spreadsheet)
- 3. Click on "Generate analysis"
Tability's Strategy Map makes it easy to see all your org's OKRsTability will scan your OKRs and offer different suggestions to improve them. This can range from a small rewrite of a statement to make it clearer to a complete rewrite of the entire OKR.
You can then decide to accept the suggestions or dismiss them if you don't agree.
Option 3. Use the free OKR generator
If you're just looking for some quick inspiration, you can also use our free OKR generator to get a template.
Unlike with Tability, you won't be able to iterate on the templates, but this is still a great way to get started.
Audit And Control Team OKR best practices
Generally speaking, your objectives should be ambitious yet achievable, and your key results should be measurable and time-bound (using the SMART framework can be helpful). It is also recommended to list strategic initiatives under your key results, as it'll help you avoid the common mistake of listing projects in your KRs.
Here are a couple of best practices extracted from our OKR implementation guide 👇
Tip #1: Limit the number of key results
Having too many OKRs is the #1 mistake that teams make when adopting the framework. The problem with tracking too many competing goals is that it will be hard for your team to know what really matters.
We recommend having 3-4 objectives, and 3-4 key results per objective. A platform like Tability can run audits on your data to help you identify the plans that have too many goals.
Tip #2: Commit to weekly OKR check-ins
Setting good goals can be challenging, but without regular check-ins, your team will struggle to make progress. We recommend that you track your OKRs weekly to get the full benefits from the framework.
Being able to see trends for your key results will also keep yourself honest.
Tip #3: No more than 2 yellow statuses in a row
Yes, this is another tip for goal-tracking instead of goal-setting (but you'll get plenty of OKR examples above). But, once you have your goals defined, it will be your ability to keep the right sense of urgency that will make the difference.
As a rule of thumb, it's best to avoid having more than 2 yellow/at risk statuses in a row.
Make a call on the 3rd update. You should be either back on track, or off track. This sounds harsh but it's the best way to signal risks early enough to fix things.
How to track your Audit And Control Team OKRs
OKRs without regular progress updates are just KPIs. You'll need to update progress on your OKRs every week to get the full benefits from the framework. Reviewing progress periodically has several advantages:
- It brings the goals back to the top of the mind
- It will highlight poorly set OKRs
- It will surface execution risks
- It improves transparency and accountability
Spreadsheets are enough to get started. Then, once you need to scale you can use a proper OKR platform to make things easier.
If you're not yet set on a tool, you can check out the 5 best OKR tracking templates guide to find the best way to monitor progress during the quarter.
More Audit And Control Team OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to establish an efficient, regulations-compliant team
- OKRs to boost the quantity of LEDs by 100
- OKRs to enhance quality and operations of the childcare centre
- OKRs to enhance product research systems and procedures
- OKRs to develop streamlined reports and dashboard to reduce necessary staffing
- OKRs to boost new customer revenue on Amazon by 50%