2 Internal Controls OKR examples with initiatives

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What are Internal Controls OKRs?

The OKR acronym stands for Objectives and Key Results. It's a goal-setting framework that was introduced at Intel by Andy Grove in the 70s, and it became popular after John Doerr introduced it to Google in the 90s. OKRs helps teams has a shared language to set ambitious goals and track progress towards them.

Formulating strong OKRs can be a complex endeavor, particularly for first-timers. Prioritizing outcomes over projects is crucial when developing your plans.

We've tailored a list of OKRs examples for Internal Controls to help you. You can look at any of the templates below to get some inspiration for your own goals.

If you want to learn more about the framework, you can read our OKR guide online.

Internal Controls OKRs examples

You'll find below a list of Objectives and Key Results templates for Internal Controls. 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!

OKRs to enhance internal controls for a zero-deficiency internal audit

ObjectiveEnhance internal controls for a zero-deficiency internal audit
KRTrain all relevant personnel on the updated internal control processes
Identify personnel requiring updated controls training
Schedule training sessions for identified personnel
Conduct evaluation post-training for effectiveness
KRSuccessfully pass the internal audit with zero major findings
Conduct pre-audit checks to identify potential issues
Regularly review and update company policies and procedures
Train staff on audit procedures and expectations
KRImplement 100% of internal control recommendations from the previous audit
Review past audit's internal control recommendations
Create an implementation plan for all recommendations
Carry out the implementation plan effectively

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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

pre-audit-inspection process-improvement process-manager quality-assurance-specialist internal-audit-team compliance-and-risk-management-team

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How to write your own Internal Controls 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 OKRs

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.

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.

Internal Controls 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 Internal Controls 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

We recommend using a spreadsheet for your first OKRs cycle. You'll need to get familiar with the scoring and tracking first. Then, you can scale your OKRs process by using a proper OKR-tracking tool for it.

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 Internal Controls OKR templates

We have more templates to help you draft your team goals and OKRs.

2 OKR examples for Internal Controls