kpmg All 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 Development Partnering with Management to Enhance Your Career The IIA / Detroit Chapter Presented by: Patricia C. Maslov, Director KPMG Advisory Services November 2007

©2006 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. 2 New ways of assessing and managing business risk are causing internal audit leaders to revisit the purpose, scope, and operations of the internal audit function KPMG White Paper “The Changing Role of Internal Audit”

©2006 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. 3 The Changing Role of Internal Audit CFO Agenda CFO Agenda Value preservation → Value creation Value preservation → Value creation ERM / Integrated versus siloed risk management ERM / Integrated versus siloed risk management New focus on fraud New focus on fraud

©2006 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. 4 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 contributionsacknowledged Financial Reward -I want to know if my financial compensation is competitive Work / Life Balance -I want a job that fits my lifestyle

©2006 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. 5 Career Development is about getting people to where they want to be and where the organization needs them to be State of the Career Report © BlessingWhite 2007

©2006 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. 6 Career Development Initiatives The Work Itself Learning and Development Recognition and Rewards Work / Life Balance Career Planning

©2006 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. 7 The Work Itself Building Ownership Strategy Involvement in Decisions Stretch Assignments 360 ° Communication Jobs-at-a-Glance Job Search and Postings

©2006 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. 8 The Work Itself Rotational 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.

©2006 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. 9 Learning and Development Skills 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

©2006 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. 10 Learning and Development A Portfolio of Solutions Competency / Skills Profiles Self-Study Distance Education -Webcasts -Podcasts Structured On-the-Job Mentoring / Coaching Rotational Assignments

©2006 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. 11 Learning and Development Building 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.

©2006 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. 12 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

©2006 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. 13 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!

©2006 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. 14 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 Bolt FastCompany.com

©2006 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. 15 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

©2006 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. 16 Work / Life Healthy Living Time Off Programs Flexibility Special Offers and Discounts Family Resources Financial Matters Corporate Citizenship Building Your Career

©2006 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. 17 Building Your Career 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

©2006 KPMG LLP, the U.S. member firm of KPMG International, a Swiss cooperative. All rights reserved. 18 Patricia C. Maslov, Director KPMG Advisory Services