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Popular This Week: Internal Audit Performance Measures Key Performance Indicators (KPIs) and more!

Posted by Protiviti KnowledgeLeader on Tue, May 07, 2019 @ 05:27 PM

This week, we are highlighting the Top 5 Pages on KnowledgeLeader from April 29-May 3! 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. Segregation of Duties Questionnaire: Financial Reporting

Segregation of key duties is a fundamental element of internal control. Adequate segregation of duties reduces the likelihood that errors will remain undetected by providing for separate processing by different individuals at various stages of a transaction, and for independent reviews of the work performed. The basic idea underlying segregation of duties is that no employee or group should be in a position to perpetrate and to conceal errors or fraud in the normal course of their duties. 

This document demonstrates how to properly segregate duties related to the financial reporting process.

 

 

 

 

 

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3. Employee New Hire Checklist

This sample checklist includes a list of forms, benefits and communications to consider including in the new hire process.

Sample items include: employment application (with resume), job description, employee contract or letter of hire signed by employee and employer, employment eligibility verification (I-9), employee information form with emergency contact information, background check release form signed by employee, employee handbook and acknowledgement form, and mission and values statement.

 

 

 

 

 

 

 

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4. AR and Cash Application Process Flow

This document can be used as a general guide to understand and review the AR and cash application process. Organizations should continuously update and monitor the processes included in this document to ensure that they accurately reflect business operations.

 

 

 

 

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5. Sarbanes-Oxley Year-End Audit Committee Report

This document serves as a sample report to the audit committee focused on the progress of an organization's Sarbanes-Oxley Section 404 program. This template includes an executive summary, project approach, program status, business process status, testing interim phase status, control realignment, IT status, business continuity status, entity-level and anti-fraud assessment, and overall results by process. 

 

 

Topics: KnowledgeLeader tools, weekly top 5

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