7 customisable OKR examples for Auditing
What are Auditing 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 Auditing 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.
Building your own Auditing OKRs with AI
While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI generator below or our more complete goal-setting system to generate your own OKRs.
Feel free to explore our tools:
- Use our free OKR generator
- Use Tability, a complete platform to set and track OKRs and initiatives, including a GPT-4 powered goal generator
Our customisable Auditing OKRs examples
You'll find below a list of Objectives and Key Results templates for Auditing. We also included strategic projects for each template to make it easier to understand the difference between key results and projects.
Hope you'll find this helpful!
1. OKRs to improve procurement documentation through thorough auditing
Improve procurement documentation through thorough auditing
Propose and implement 3 efficiency-enhancing modifications to the document auditing system
Implement the proposed system modifications- Develop efficiency-enhancing modifications for the system
- Identify inefficiencies in the current document auditing system
- Conduct audits on 100% of free procurement documents weekly
- Schedule weekly audits for these documents
- Identify all free procurement documents for the week
- Review and report on audit findings
- Detect and report at least 90% of inaccuracies or discrepancies in audited documents
- Report detected inaccuracies promptly
- Establish a detection method for document inaccuracies
- Analyze 100% of audited documents systematically
2. OKRs to enhance auditing of homeowner communication and calls
- Enhance auditing of homeowner communication and calls
- Improve first-call-resolution rate to above 90% per customer's feedback
- Monitor and evaluate customer interactions regularly
- Implement an efficient customer service script
- Train staff on effective problem-solving and communication skills
- Evaluate and document 100% of call logs for quality assurance weekly
- Submit weekly quality assurance report
- Review all call logs for quality checks weekly
- Document findings after each call log evaluation
- Achieve a satisfaction rate of above 85% in post-call surveys
- Implement a process for soliciting customer feedback post-call
- Implement comprehensive customer service training for all call staff
- Continuously monitor and improve call handling procedures
3. OKRs to minimize inaccuracies in financial statements
- Minimize inaccuracies in financial statements
- Decrease financial statement errors by 20%
- Regularly review and correct financial statements
- Implement rigorous bookkeeping training for accounting staff
- Incorporate robust financial auditing software
- Train finance team on latest reporting guidelines within 1 month
- Plan training sessions to cover these updates
- Identify recent changes in financial reporting guidelines
- Execute planned training for finance team
- Implement new audit checklist for 100% of statements
- Train auditors to properly utilize the new checklist
- Implement checklist across all statement reviews
- Develop comprehensive audit checklist aligned with financial statement requirements
4. OKRs to achieve 100% productivity in financial statement preparation
- Achieve 100% productivity in financial statement preparation
- Increase financial statement preparation speed by 20% without errors
- Implement automated accounting software for faster data processing
- Streamline and simplify the financial reporting process
- Conduct regular training on accurate and quick data entry
- Implement an effective workflow to process all financial reports within schedule
- Implement regular check-ins to monitor progress
- Establish clear deadlines for all financial report processes
- Assign specific tasks to designated team members
- Attain absolute accuracy in 95% of prepared financial statements, as assessed by audits
- Establish comprehensive training for finance team
- Implement strict quality control in financial reporting
- Conduct regular internal audits for immediate correction
5. OKRs to achieve 90% accuracy in financial statement preparation
- Achieve 90% accuracy in financial statement preparation
- Reduce errors in trial balances by 20% to ensure accurate financial reports
- Implement double-entry bookkeeping for accurate records
- Review trial balances weekly for discrepancies
- Train staff in reconciliation techniques annually
- Successfully incorporate feedback from 2 financial audits to improve reporting accuracy
- Review the feedback received from both financial audits
- Determine needed changes and improvements in reporting
- Implement changes and check their effectiveness regularly
- Complete a specialized course on financial statements and pass with at least 85% score
- Take the final course exam, aiming for 85% or higher
- Consistently study to grasp course content thoroughly
- Research and enroll in a reputable financial statements course
6. OKRs to enhance partnership with business for valuable audit plan fruition
- Enhance partnership with business for valuable audit plan fruition
- Initiate 3 strategic discussions with business stakeholders to identify potential audit areas
- Prep for discussions by assessing potential audit zones
- Identify key business stakeholders for strategic discussions
- Schedule meetings with stakeholders to discuss audit areas
- Generate 5+ tangible value creation strategies born from audit insights
- Brainstorm and develop potential value creation strategies
- Evaluate and finalize top five strategies for implementation
- Identify key insights from previous audit reports
- Achieve 100% progression on the determined annual audit plan
- Determine key priorities, resources and timeframe for the annual audit
- Regularly review the audit's progress and address any issues promptly
- Ensure thorough communication with relevant personnel throughout the audit process
7. OKRs to establish process improvement to reduce audit adjustments entries
- Establish process improvement to reduce audit adjustments entries
- Improve the accuracy of initial entries by 35% through thorough staff training
- Develop comprehensive training material on data entry accuracy
- Implement ongoing staff data entry workshops
- Monitor progress and provide continual feedback
- Implement new software to automate 60% of audit entry processes
- Implement and monitor software regularly for efficiency
- Train employees on updated automation software
- Select suitable software to automate audit entry processes
- Decrease the quantity of audit adjustment entries by 40%
- Provide comprehensive training on accurate data entry
- Use auditing software to identify errors
- Implement strict review process before entering data
Auditing OKR best practices to boost success
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
Focus can only be achieve by limiting the number of competing priorities. It is crucial that you take the time to identify where you need to move the needle, and avoid adding business-as-usual activities to your OKRs.
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.
Tability's audit dashboard will highlight opportunities to improve OKRsTip #2: Commit to weekly OKR check-ins
Having good goals is only half the effort. You'll get significant more value from your OKRs if you commit to a weekly check-in process.
Being able to see trends for your key results will also keep yourself honest.
Tability's check-ins will save you hours and increase transparencyTip #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 turn your Auditing OKRs in a strategy map
Your quarterly OKRs should be tracked weekly in order to get all the benefits of the OKRs 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
Most teams should start with a spreadsheet if they're using OKRs for the first time. Then, once you get comfortable you can graduate to a proper OKRs-tracking tool.
Tability's Strategy Map makes it easy to see all your org's OKRsIf 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 Auditing OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to enhance inter-team collaboration and knowledge transfer
- OKRs to raise the pass rate for the certification exam by 30%
- OKRs to secure guest posts for enhanced brand visibility and thought leadership
- OKRs to revamp system solutions to maximize quality
- OKRs to successfully mentor a novice product manager
- OKRs to establish process improvement to reduce audit adjustments entries
OKRs resources
Here are a list of resources to help you adopt the Objectives and Key Results framework.
- To learn: What is the meaning of OKRs
- Blog posts: ODT Blog
- Success metrics: KPIs examples
Create more examples in our app
You can use Tability to create OKRs with AI – and keep yourself accountable 👀
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