PERSONAL PLAN

        Kip M. Twitchell

        August 1991

Outline

Review of prior year

        Client service

        Practice and staff development

Current year goals

        Client service

                Current client assignments

                Time charges

                Technical development

        Practice Development

        People Development

Conclusion

Practice development list

Approval of plan

Prepared by:                           Date:          

Reviewed by:                           Date:          

Approved by:                           Date:          

        PERSONAL PLAN

        Kip M. Twitchell

        August 1991

        SUMMARY

I would assess my performance for the year as higher than expected which is consisted with my evaluations.  Goals to improve service include (1) improving relationships with client personnel, (2) using my CIS and system skills to make good recommendations and generate additional work, (3) continuing to charge 2,000 hours a year and reduce overtime by reducing my G/A charges, (4) improve my value to clients by improving my (a) writing, (b) general business skills, and (c) auditing skills, especially CIS skills.  I will also continue my practice and staff development initiatives.

        REVIEW OF PRIOR YEAR

The following is my assessment of my performance in (1) Client Service,(2) Practice Development, and (3) Staff Development during the year ended July 1991.  My goals for the current year in the same areas follow this assessment.

        Client Service

This section describes my impressions of the results of work on my major clients I worked on during the year.  Major clients are ones to which I charged over 100 hours.

Wins--Major clients I served well include:  Price Development Corp. (PDC), National Assessment Institute, and Siemens (a Phoenix Office client).  

I helped to generate additional work at PDC, with the systems documentation and agreed upon procedures.  I believe both these assignments strengthened our client relationship.  Generally the audit went well, although some of my assigned areas were over budget.  I have set goals described in the next section to continue and improve this level of service.

The National Assessment Institute audit was successful and on budget.  I also performed additional procedures on the Nashville office.  The technical requirements of the additional procedures stretched my abilities, and the assignment was challenging.

The audit of Siemens was on budget, technically good, and resulted in a good client relationship.

Losses--Dynix, Mountain America Financial Services (MAFS), and Price Broadcasting (PBG) were not very successful engagements.  Most aspects of the Dynix audit were unsatisfactory.  On the MAFS and PBG audit, I did not identify issues early, appropriately allocate time to critical audit areas, nor complete assignments on budget.  The client contributed to these problems on all three engagements.  Goals have been set to improve these areas.

Chargeable Hours--See discussion under the current year goals below.

Technical Development--I completed my first full year with PW during the year.  The increase in my technical abilities is due to continuing practical experience and continuing CE training.  I am pleased with the growth in my technical skills.

        Practice and Staff Development

My contributions to both PD and staff development during the year are commensurate with my staff level.

PD--As noted above, my work at PDC generated additional work for the office.  I also maintained and improved my contacts with business people.

Recruiting--I participated in most of the firm sponsored recruiting activities including the BYU Fun Run, Meet the Firms Night, office interviews, and the Open House.  Because of my professional relationship with a BYU professor, I took part in a successful panel discussion about careers in accounting, which increased PW visibility on campus.

Staff Development--I attempted to be honest in both the evaluations I gave and in giving feedback to those whom I worked for.  While supervising staff I attempted to improve their understanding of computers, CIS, and auditing.

        GOALS--CLIENT SERVICE

My goals for client service are divided into three parts:

•Satisfying clients on current client assignments,

•Charging my time to afford to serve clients in the future, and

•Technical development to meet my client's future needs.

Each of these is discussed in more detail below.

        CURRENT CLIENT ASSIGNMENTS

        TIME CHARGES

                                        Actual                         Goal

                                        Fiscal                        Fiscal

                                         1991         Percent         1992         Percent

Chargeable                        1918                77%                2000                83%

Non chargeable                         562                23%                 400                17%

Total                                2480                100%                2400                100%

        Overtime                                352                                320

Overall, my time charges for the year were good.  I worked hard, and when I was requested to put in time I did so.  I have estimated the brake down of non chargeable time as follows:

                                                         Hours

Personal                                                        270

PD, Recruit, staff meet, etc.                        67

Computer work                                                75

Unassigned                                                55

Unchangeable (due to personal and

        client inefficiencies)                        50

Other (time sheets, etc.)                        45

        Total                                                562

I would like to reduce the overtime by reducing the G/A charges.  To do this, I will need to

•reduce unchangeable time due to inefficiencies;

•smooth out my chargeable time by anticipating work, help in planning, and moving year-end work to interim; and

•reduce the time spent on computer maintenance.

If I do this, I will work more efficiently and be more satisfied  with the time I work.

        TECHNICAL DEVELOPMENT

I will improve myself in the following areas:

Writing Skills--My communication skills are critical to my future success, both with clients and within PW.  I will

• Take time to write and review more effectively,

• Periodically review both PW training and the Strunk and White manual to identify areas to improve, and

• Ask others to critically review my writing.

General Business Knowledge--The more well rounded my knowledge of business, the more service I will be to my clients.  To improve my general understanding of business I will

• Read general business periodicals such as Business Week and The Wall Street Journal regularly,

• Learn more about my clients businesses from them,

•Build relationships with my business contracts as discussed under practice development, and

•Read PW published materials.

Auditing and CIS Skills--In addition to my communication and general business skills, I will develop my audit and CIS skills to provide specialized service to my clients.  I will

•Remain current in my computer knowledge by reading computer literature such as PC Week.

•Read PW published materials such as AAR and A and AS, etc.

•Participate in and use CE training.

•Utilize both internal and external education resources to learn more CIS techniques.  (I will provide a proposal for continuing my education in this area when CE manuals are available.)

•Utilize PW software and CIS techniques currently available in our office.  By doing this I hope to stay one step ahead of the needs of our clients for CIS services.  These projects should be specifically identify so that the results can be evaluated on more than the economic return.  

        PRACTICE DEVELOPMENT

I have three practice development responsibilities.

Current Client Service--As documented above, I will take specific actions to identify and encourage my current clients to look to PW for other services.

Personal Contacts--I will increase my contact of the individuals listed on my contact list (following this plan).  These contacts are the best source for me to generate additional work to our office.  These contacts include both business and personal contacts.

Increased Visibility--I will increase my personal visibility in the community by working with service organizations.

        PEOPLE DEVELOPMENT

I have two recruiting and personnel development responsibilities.

Recruiting Activities--I will attend firm sponsored recruiting functions and help to create relationships with potential staff.  I will also take the initiative to continue school relationships with professors and engage in appropriate school activities.

Staff Development--I will train current PW staff.  This training includes technical training in auditing, CIS, and other computer functions.  I will help to train the staff on my jobs and as requested in staff meetings.  I will also give honest performance evaluations both of those I supervise and to those I assist.

        CONCLUSION

By achieving these goals I will increase my satisfaction with my career and increase my value to Price Waterhouse.

        PRACTICE DEVELOPMENT LIST

Name        Position        Firm           Contact

Kim Jackson        Internal Audit Manager        Novell        1

Roland Nelson        Internal Auditor        American Stores        2

Eric Denna        CIS Professor        BYU        2

Cam Barnes        MBA student        BYU        3

Dave Brinley        Contract Lawyer        Shell Oil        3

Kevin Fine        Law Student        BYU        3

Jim Camberlangos        Vice Pres.        First Security Bank        4

Mark Drake        Finance Major        America First Bank        5

Rob Hirst        MBA student        BYU        5

Darren Waite        MBA student        USU        5

Contact scale:  1 = Very Frequent, 5 = Very Infrequent