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Popular This Week: Purchase-to-Payment Leading Practices and more!

Posted by Protiviti KnowledgeLeader on Tue, May 28, 2019 @ 05:11 PM

This week, we are highlighting the Top 5 Pages on KnowledgeLeader from May 20-24! Take a look at the "best of the best" of our tools that could help you simplify your audit projects.


1. Purchase-to-Payment Leading Practices

The purchase-to-payment process focuses on requisitioning, purchasing, receiving, paying for and accounting for goods and services. It starts with the procuring a good or service to the final steps involved in paying for it.





2. 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.





3. 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.












4. Inventory Management Capability Maturity Model (CMM)

This capability maturity model can be used to measure the maturity of an organization’s inventory management process and to assist its progress from the initial/ad-hoc state toward the optimized state.






5. Candidate Evaluation Guide

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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