Tability is a cheatcode for goal-driven teams. Set perfect OKRs with AI, stay focused on the work that matters.
What 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.
The best tools for writing perfect Audit And Control Team OKRs
Here are 2 tools that can help you draft your OKRs in no time.
Tability AI: to generate OKRs based on a prompt
Tability AI allows you to describe your goals in a prompt, and generate a fully editable OKR template in seconds.
- 1. Create a Tability account
- 2. Click on the Generate goals using AI
- 3. Describe your goals in a prompt
- 4. Get your fully editable OKR template
- 5. Publish to start tracking progress and get automated OKR dashboards
Watch the video below to see it in action 👇
Tability Feedback: to improve existing OKRs
You can use Tability's AI feedback to improve your OKRs if you already have existing goals.
- 1. Create your Tability account
- 2. Add your existing OKRs (you can import them from a spreadsheet)
- 3. Click on Generate analysis
- 4. Review the suggestions and decide to accept or dismiss them
- 5. Publish to start tracking progress and get automated OKR dashboards
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Tability 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.
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
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.
Save hours with automated OKR dashboards
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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 Tability to save time with automated OKR dashboards, data connectors, and actionable insights.
How to get Tability dashboards:
- 1. Create a Tability account
- 2. Use the importers to add your OKRs (works with any spreadsheet or doc)
- 3. Publish your OKR plan
That's it! Tability will instantly get access to 10+ dashboards to monitor progress, visualise trends, and identify risks early.
More Audit And Control Team OKR templates
We have more templates to help you draft your team goals and OKRs.
OKRs to attain professional status in trading
OKRs to facilitate ISO 27001 certification readiness for tech team
OKRs to increase social media engagement by 30%
OKRs to develop robust metrics for social media content assessment
OKRs to achieve intermediate proficiency in German
OKRs to establish a comprehensive Operational Excellence Program