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    Developing Budgets: What You Need to Know

    Posted by Protiviti KnowledgeLeader on Fri, Jan 18, 2019 @ 08:59 AM

    In a previous blog on Managing Mergers and Acquisitions KPIs we discussed what exactly Key Performance Indicators are:

    “KPIs are generally defined as quantifiable measures used to evaluate the success of an organization, employee or process in meeting the objectives for performance. In other words, you can only really know if you did well if you know how success is measured.”

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    Topics: Accounting/Finance, Cash & Treasury, Performance Management/Measurement, Budgeting

    Key Performance Measures for Improving the Internal Audit Process

    Posted by Protiviti KnowledgeLeader on Thu, Jan 03, 2019 @ 10:21 AM

    An effective business process is built on a set of well-defined and clearly stated business objectives. These key objectives articulate the ideal performance results that the company expects from that process. To monitor a business process so that it stays focused on reaching the key objectives, the company chooses appropriate performance measures. Careful selection of the performance measures takes a company a long way toward improving a business process. Thus, to build and continually improve an effective business process, a company establishes:

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    Topics: Internal Audit, Risk Assessment, Quality Assessment Review, Performance Management/Measurement

    What is Cloud Computing?

    Posted by Protiviti KnowledgeLeader on Thu, Dec 20, 2018 @ 10:00 AM

    What is Cloud Computing?

    Cloud computing is defined as the use of a collection of services, applications, information and infrastructure composed of pools of computer, network, information and storage resources. These components can be rapidly orchestrated, provisioned, implemented, decommissioned and scaled up or down, providing for an on-demand, utility-like model of allocation and consumption.

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    Topics: Governance, Risk & Compliance, Cloud Computing, Cybersecurity, IT Security

    Currency Risk: The Purpose and Risk of Money

    Posted by Protiviti KnowledgeLeader on Fri, Dec 14, 2018 @ 01:14 PM

    What is Money?

    People may say that “money is the root of all evil,” but is it? It may be best to point out that the original quote is better expressed as, “for the love of money is the root of all evil,” which more properly conveys the idea that money is just a thing and not evil itself, but greed and excessive desire for money can be judged morally.

    Enough philosophy – let’s get down to brass tacks. Money is useful.

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    Topics: Enterprise Risk Management, Risk Assessment, Investments & Foreign Exchange, Accounting/Finance, Cash & Treasury, Performance Management/Measurement

    What is IT Audit?

    Posted by Protiviti KnowledgeLeader on Tue, Nov 20, 2018 @ 12:04 PM

    It is a common occurrence today to find many organizations investing more and more resources – money, time, staff, etc. – into technology. Consider a relatively small retail company, for example, that’s focusing on expanding its website and online ordering capabilities while also building web-based platforms that can function seamlessly on a variety of popular mobile devices. At the same time, this company also must manage a broad and growing range of risks related to security and privacy; regulatory compliance; federal, state and local laws; use of social media by employees; and information technology (IT) infrastructure stability, among many other areas.

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    Topics: IT Audit

    How to Get Your Accounts Payable Process to Work for You

    Posted by Protiviti KnowledgeLeader on Thu, Nov 01, 2018 @ 09:12 AM

    One of our leading practices to consider for your accounts payable process is to develop strategic business alliances with suppliers and involve them in developing better ways to process accounts payable.

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    Topics: Supply Chain, Vendor Management, Accounting/Finance, Financial Reporting, Cash & Treasury, Performance Management/Measurement, Accounts Payable & Purchasing

    What is Internal Auditing?

    Posted by Protiviti KnowledgeLeader on Thu, Oct 25, 2018 @ 12:27 PM

    What is internal auditing?

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    Topics: Internal Audit, IT Audit, Audit Committee & Board, Audit Planning, Audit Testing

    6 Successful Warehouse & Storage Strategies You Need to Know

    Posted by Protiviti KnowledgeLeader on Thu, Oct 18, 2018 @ 02:06 PM

    There are two main goals that companies with leading practices strive to achieve in the warehousing process: to provide value-added services such as product customization and to move those products through the warehouse into the hands of the consumers as quickly as possible. Companies that achieve these goals follow the leading practices discussed below.

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    Topics: Supply Chain, Change Management, Performance Management/Measurement, Inventory & Materials Management, Sales Process & Marketing

    The Art of Internal Audit Reporting: Direct Impact and Clarity

    Posted by Protiviti KnowledgeLeader on Thu, Oct 04, 2018 @ 04:37 PM

    Internal audit (IA) reporting may be the biggest challenge in the audit process next to scheduling the audit itself and implementing recommendations in today’s complex and competitive corporate environment. An audit report presents results of an examination or review within the organization and is considered by many to be the core deliverable of audit services. Therefore, the importance of good reporting cannot generally be exaggerated.

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    Topics: Training & Development, Internal Audit, Audit Reporting, Internal Audit Administration

    Self Assessment: Launching Here and Soaring Beyond

    Posted by Protiviti KnowledgeLeader on Thu, Sep 27, 2018 @ 02:33 PM
    First Step: Use Self-Assessment Within the Internal Audit Department

    The first and simplest way to use the self-assessment process is to use it in determining your own internal audit function strategy and priorities. This is an excellent starting point, for numerous reasons:

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    Topics: Internal Audit, Self-Assessment

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