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Popular the Week of May 13: Internal Audit Performance Measures Key Performance Indicators (KPIs) and more!

Posted by Protiviti KnowledgeLeader on Tue, May 14, 2019 @ 05:25 PM

This week, we are highlighting the Top 5 Pages on KnowledgeLeader from May 6-10! 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 Controls

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 questionnaire template is designed to evaluate the segregation of duties related to the financial controls process.

 

 

 

 

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3. ISO 27001 Information Security Assessment Report

This audit report focuses on a project baselining an organization’s information security practices, with the purpose of identifying opportunities to advance the information security function and raise the overall effectiveness of existing security processes. It compares ISO 27001 (Information Security Management Systems Requirements) to existing information-security-related policies, procedures and practices.

 

 

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4. Inventory Policy

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. Segregation of Duties Questionnaire: Accounts Receivable

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 questionnaire template is designed to evaluate the segregation of duties related to the accounts receivable process.

 

 

 

Topics: KnowledgeLeader tools, weekly top 5

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