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Popular the Week of June 17: Vendor Management Capability Maturity Model (CMM) and more!

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

This week, we are highlighting the Top 5 Pages on KnowledgeLeader from June 17-21! Take a look at the "best of the best" of our tools that could help you simplify your audit projects.


1. Vendor Management Capability Maturity Model (CMM)

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






2. Enterprise Risk Assessment Process Questionnaire

An effective risk assessment process lays the foundation for management to respond to questions confidently as the business environment remains in a constant state of flux. Furthermore, an effective process instills confidence in the board that management has a substantive basis for answering questions about the risk assessment process. This questionnaire addresses key issues that boards and management should consider as they evaluate their confidence in the organization’s enterprise risk assessment process.











3. Fixed Asset Accounting Review Audit Work Program

This sample audit program reviews the adequacy and efficiency of current capital asset management policies and procedures as they relate to asset procurement, tracking and monitoring, recording and reporting, disposal of assets, and depreciation. Key people to interview during the audit include: fixed asset manager (if one exists); finance director/accounting manager (or other finance representative); receiving department manager; information management director; and capital asset financial analysis representative.
An ongoing step, with open communication occurring throughout the review, is to validate the accuracy of the report with the auditee.






4. 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.




5. 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.





Topics: KnowledgeLeader tools, weekly top 5

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