Reuters reported today that "President-elect Barack Obama, who faces trillion-dollar government deficits stretching into coming years, named on Wednesday a former Treasury official as the first U.S. "chief performance officer" to oversee budget and spending reform. "Nancy Killefer, a director at McKinsey & Company and a former assistant Treasury secretary in the Clinton administration, will work with economic officials to increase efficiencies and eliminate waste in government spending."
"'We can no longer afford to sustain the old ways when we know there are new and more efficient ways of getting the job done," Obama told a news conference just hours after new official projections put the fiscal 2009 U.S. budget deficit at a record $1.186 trillion."
This is fantastic, and reminds me that when I was hired at Maxtor (since acquired by Seagate), I negotiated a position where I was responsible for Internal Audit, Sarbanes-Oxley, and process improvement. The title was VP, Internal Controls and Process Assurance, and I reported to the Audit Committee (for IA), the CEO and COO (for process improvement), and the CFO (administratively).
I believe that these are great opportunities for internal auditors. We can assess and provide recommendations to improve process and resource efficiencies, permitted by our charter as management continues to have responsibility for deciding what to implement.
This form of integrating auditing has great value for stakeholders and is fun!