Our Audit Committee Chairperson will be involved in evaluating my performance as the Director of Internal Audit for the first time in 2007. Up to this point, it has been only the COO involved in evaluating my performnace, but due to a recommendation by the regulators, the Audit Committee now also needs to be involved. We are looking for some type of tool or template for the Audit Committee chairperson to complete regarding my performance. Does anyone have any examples or resources for this type of tool?

Why wouldn't you use the same performance evaluation form as your bank currently uses?

Same thing happened to me this year. Who is your regulator? FRB here. I beleive, and I'm not 100% sure since we have another whole year to figure it out, that our chairman will be using the same evaluation form. (He did sign-off on it this year along with one of the VPs to show that we are in the process of shifting.)

The only area where the chairman might have trouble filling in is things like punctuality, leaving early, etc. It would be impossible for him to know things like that on a daily basis unless he asked someone who is at the Bank all the time.

Was anyone else given this "suggestion" by the examiners?

This was "suggested" to us as well. This is the second year the Audit Committee will complete my performance evaluation, with some input from the CEO. Like AuditGuy, there is no way for the AC to know how I interact with staff on a daily basis, how I commicate with management, etc.

We did something similar for several years, until the function was outsourcd last year. The auditor reported to a member of executive management, who drafted the review on our normal form. It was then discussed by the audit committee (with the auditor out of the room), who gave input into the auditor's performance from their perspective, and signed by the committee chair. The executive presented the results to the auditor.

This method seemed to be adequate for the FDIC, but is not the same as the committee writing the review from scratch themselves and presenting it to the auditor in person. I think a number of the usual performance factors would simply not be addressed if that were the case.

My bank is still young and had outsourced the audit function until they put me in last year. I have not gotten a performance review yet, and I'm not sure how they plan on approaching it.

Do your reviews include goals for the upcoming year, and what do they typically include?

The Chair of the Audit Committee does my performance appraisal. He uses the same format as management does. I think he got some coaching from HR and he does consult with the president and other members of management. (Best reviews I have ever got)

My audit committee is asking me to implement a post audit questionnaire to the area being audited. Most of our audits are performed by just one auditor out in the field so it is hard for me to get an accurate picture of how they are performing their job other than evaluating their workpapers.
I remember seeing a post audit questionnaire that asked the dept / branch to rate the auditor according to punctuality, interaction with staff, communication with mgmt, knowledge of area, etc.. but I can't remember where or when I saw the questionnaire.
Does anyone have this type of tool that they are using? If so, would you be willing to share?