KnowledgeLeader Blog

Popular This Week:  Accounts Payable RCM and more!

Posted by Protiviti KnowledgeLeader on Tue, Feb 19, 2019 @ 07:59 PM

This week, we are highlighting the Top 5 Pages on KnowledgeLeader from February 11-15! Take a look at the "best of the best" of our tools that could help you simplify your audit projects.

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1. Internal Audit Performance Measures Key Performance Indicators (KPIs)

An effective business process is built on a set of well-defined and clearly stated business objectives. To build and continually improve an effective business process, a company establishes: key objectives to articulate the performance results the company expects from the business process, outcome measures to determine whether the company has reached the key objectives, and activity measures to monitor the performance of instrumental activities.

This tool outlines key objectives for conducting internal audits, the outcome measures associated with each objective, and the activity measures that drive each outcome measure. A link connects each outcome measure with its corresponding formula and analysis.

 

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2. Accounts Payable RCM

A successful risk management strategy requires a strong internal control environment. The RCM format emphasizes that strong and risk-oriented internal control environments are often optimized with automated/manual controls, depending on the situation. 

This document outlines risks and controls common to the 5.2.1 Process Accounts Payable process in a risk control matrix (RCM) format.  

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3. Financial Statement Risk Assessment Guide

This guide provides a detailed overview of key steps to the financial statement risk assessment process, which includes prioritizing financial reporting elements, defining processes, linking processes to financial reporting elements, prioritizing processes and finalizing the risk assessment.

The financial statement risk assessment process outlined in this document prioritizes the financial elements and processes for Section 404 of the Sarbanes-Oxley Act of 2002. The prioritization of these items can help an organization define the extent of its process-level documentation and testing efforts.

 

 

 

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4. Support End Users RCM

A successful risk management strategy requires a strong internal control environment. The risk control matrix (RCM) format emphasizes that strong and risk-oriented internal control environments are often optimized with automated/manual controls, depending on the situation. 

This document outlines risks and controls common to the 4.6 Support End Users process in a risk control matrix (RCM) format.

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5. Month-End Walkthrough Questionnaire

The purpose of the month-end close process is to ensure that all employees are fully aware of their assignments and that their responsibilities are completed on time, properly and accurately, in conjunction with the company's financial closing and reporting internal control structure.

This sample walkthrough questionnaire can be used to review an organization's month-end close process and determine whether the appropriate controls are working properly.

 

 

 

 

Topics: KnowledgeLeader tools, weekly top 5

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