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When is the Last Time You Reviewed Your Purchasing Process?

Posted by Protiviti KnowledgeLeader on Thu, Oct 10, 2019 @ 04:45 PM

The process of purchasing materials and supplies comprises procedures and activities to acquire goods in the correct quantity and in a timely manner. The process should include how purchases are started (e.g., inventory levels), who is involved and how it is made. In addition, the process covers the communication of purchases to all required areas of the company (e.g., accounting). Inventory management follows and starts from the time inventory purchases are received to the time the inventory is sold to the customer and payment is received.

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Topics: internal audit, KL Tools, accounts payable & purchasing, Digital Transformation

Is Your Strategy Focused on Digital Transformation?

Posted by Protiviti KnowledgeLeader on Fri, Oct 04, 2019 @ 10:14 AM

The digital revolution currently taking place is transforming our world. Over the next few years, many organizations will need to undertake radical change programs and, in some cases, completely reinvent themselves to remain relevant and competitive.

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Topics: internal audit, strategic risk, KL Tools, Digital Transformation

Popular the Week of September 23: Data Analytics by Business Process and more!

Posted by Protiviti KnowledgeLeader on Tue, Oct 01, 2019 @ 05:07 PM

This week, we are highlighting the Top 5 Pages on KnowledgeLeader from September 23-27! Take a look at the "best of the best" of our tools that could help you simplify your audit projects.

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Topics: KnowledgeLeader tools, weekly top 5

Audit Committee: Importance to the Board of Directors

Posted by Protiviti KnowledgeLeader on Fri, Sep 27, 2019 @ 09:12 AM

What should the audit committee’s relationship be with an organization’s board of directors, compensation committee, disclosure committee, and nominating and governance committee?

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Topics: internal audit, audit committee & board, KL Tools

Popular the Week of September 16: An Effective Way to Conduct a Risk Assessment Guide and more!

Posted by Protiviti KnowledgeLeader on Tue, Sep 24, 2019 @ 04:10 PM

This week, we are highlighting the Top 5 Pages on KnowledgeLeader from September 16-20! Take a look at the "best of the best" of our tools that could help you simplify your audit projects.

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Topics: KnowledgeLeader tools, weekly top 5

How to Achieve Remarkable Value From Internal Audit in the Digital Age

Posted by Protiviti KnowledgeLeader on Thu, Sep 19, 2019 @ 05:52 PM

In a world of rapid change on almost every front at which organizations must adapt and grow or risk decline and their ultimate demise, everybody faces the same reality — either continuously improve their efforts to contribute sustainable value or be left behind. The chief audit executive (CAE) is no exception. As the risks and complexities companies face change, so do the focus, skill sets and capabilities needed by internal audit.

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Topics: internal audit, technology, KL Tools, Digital Risk, Digital Transformation

Popular the Week of September 2: An Effective Way to Conduct a Risk Assessment Guide and more!

Posted by Protiviti KnowledgeLeader on Tue, Sep 17, 2019 @ 05:20 PM

This week, we are highlighting the Top 5 Pages on KnowledgeLeader from September 2-6! Take a look at the "best of the best" of our tools that could help you simplify your audit projects.

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Topics: KnowledgeLeader tools, weekly top 5

Internal Audit: Auditing Standards You Need to Be Aware Of

Posted by Protiviti KnowledgeLeader on Fri, Sep 13, 2019 @ 08:46 AM

Auditing Standards for Internal Audit

The Institute of Internal Auditors (IIA) promulgates the International Professional Practices Framework (IPPF) which includes Mandatory Guidance and Recommended Guidance.

Mandatory Guidance:

  • Core Principles for the Professional Practice of Internal Auditing
  • Definition of Internal Auditing
  • Code of Ethics
  • International Standards for the Professional Practice of Internal Auditing 

Recommended Guidance:

  • Implementation Guidance
  • Supplemental Guidance
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Topics: internal audit, IIA, KL Tools, audit standards, IPPF

10 Important Roles of the Audit Committee in Internal Audit

Posted by Protiviti KnowledgeLeader on Thu, Sep 05, 2019 @ 02:54 PM

10 Important Roles of the Audit Committee in Internal Audit

Although the exact nature, charter, scope and reporting lines of internal audit may vary between companies, the audit committee plays a key role in supporting and overseeing aspects of an internal audit function’s activities. While needing to ensure that it does not assume day-to-day oversight activities on behalf of management or the internal audit function, the audit committee should generally be involved in the following matters:

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Topics: internal audit, audit committee & board, KL Tools

Popular the Week of August 26: Enterprise Risk Management Project Plan Guide and more!

Posted by Protiviti KnowledgeLeader on Tue, Sep 03, 2019 @ 06:44 PM

This week, we are highlighting the Top 5 Pages on KnowledgeLeader from August 26-30! Take a look at the "best of the best" of our tools that could help you simplify your audit projects.

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Topics: KnowledgeLeader tools, weekly top 5

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