Formalized quality assessment of specialists commitment (FQASC)

Modern processes of internal control system building in holding entities imply the presence of the internal control and audit department, both in the management company and in the functional organizations within the holding entity. The paper considers the interrelation between some theoretical constructions for staff motivation designed to develop an approach for assessing the performance of employees of the internal control and audit department of the non-management organizations in a holding. The relevant literature provides insufficient information on motivation of employees performing the function of internal control and audit in the non-management holding organizations. However, on the practical side, this matter requires serious consideration, because, on the one hand, the teamwork defines the group responsibility for the outcome, and thus the achieved result applies to the entire group, on the other hand, the inefficient work of one of the expert team members requires more effort on the part of other team members. Formalized quality assessment of specialists' commitment (FQASC) is defined as an indicator of financial motivation for employees. Formalized quality assessment of specialists' commitment is integrated assessment of the quality of specialists' work, which includes both personal achievements of employees and factors reflecting performance in teamwork control activities covering the internal and external monitoring of this type of activity. Formalized quality assessment of specialists' commitment implies evaluation of the following control indicators: "participation of a specialist in control activities", "monitoring of the participation of a specialist in control activities", personal contribution of a specialist over the reporting year, as well as indicators of "a specialist's personal performance". The introduction of this method in the JSC "Siberian Chemical Plant" enabled them: - to formalize the assessment of the contribution of a specialist in terms of achievement of the common goal of the internal control and internal audit; - to differentiate remuneration for each specialist in accordance with their results for the period of one year; - to involve all the parties concerned into the procedure of determining the contribution of each specialist based on the results of the control activities: the specialists themselves (self-esteem), the head of the working group, the head of the internal audit and the owner of the audited business process; - to build the internal auditor's awareness of the main approaches to implementing their functions with due quality; - to increase the teamwork effectiveness.

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