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Popular the Week of April 22: Internal Audit Performance Measures Key Performance Indicators (KPIs) and more!

Posted by Protiviti KnowledgeLeader on Tue, Apr 23, 2019 @ 04:33 PM

This week, we are highlighting the Top 5 Pages on KnowledgeLeader from April 15-19! 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. Select and Manage Suppliers RCM

This sample report to the audit committee primarily focuses on the audit risk assessment process and its results and the internal audit planning process. It aims to give visual guidance on how internal auditors can present readable and graphical reports to the audit committee. Internal auditors can refer to this sample for ideas on ways to present complex materials in readable, graphical and concise formats.


 

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3. Corporate Governance Compliance Questionnaire

Internal audit performs a risk assessment to identify and prioritize key risks to best allocate the internal audit resources for the next year. This risk-based approach is focused on surveys/interviews of a cross-section of management personnel to solicit input from the potential customers of an internal audit function.

The output from the surveys and interviews can be used to develop an audit plan that creates broad coverage through a blend of internal audits, control self-assessment and targeted external audit coverage. 

 

 

 

 

 

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4. Inventory Policy

The ultimate goal of enterprise risk management is to evaluate total returns relative to total risks, leading to more informed business decisions. Many ask questions about its value proposition. This questionnaire can be used when analyzing an organization’s enterprise risk management strategy. It focuses on the internal environment, objective setting, risk identification, risk assessment, risk response, control activities, information and communication, role of the board of directors, role of management, common risk failures, and trading activity.

 

 

 

 

 

 

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5. Internal Audit Risk Assessment Questionnaire

Internal audit performs a risk assessment to identify and prioritize key risks to best allocate the internal audit resources for the next year. This risk-based approach is focused on surveys/interviews of a cross-section of management personnel to solicit input from the potential customers of an internal audit function. 

The output from the surveys and interviews can be used to develop an audit plan that creates broad coverage through a blend of internal audits, control self-assessment and targeted external audit coverage.

 

 

 

 

 

 

Topics: KnowledgeLeader tools, weekly top 5

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