KnowledgeLeader Blog

Popular the Week of July 29: Human Resources Capability Maturity Model (CMM) and more!

Posted by Protiviti KnowledgeLeader on Wed, Aug 07, 2019 @ 02:25 PM

This week, we are highlighting the Top 5 Pages on KnowledgeLeader from July 29-August 2! Take a look at the "best of the best" of our tools that could help you simplify your audit projects.

""

1. Human Resources Capability Maturity Model (CMM)

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

 

 

 

 

 

""

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. 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.





 

""

4. Record Retention Process Review Audit Report

This sample audit report reviews a company's record retention process and identifies associated risks. The objectives of the review are to identify the existing procedures in place, define the process objectives, identify and prioritize the applicable risks, identify global best practices to minimize the most significant and likely risks, determine the key components to be included, and compare the existing practices to the key components necessary to achieve the objectives.

 

 

 

 

""

5. Inventory Policy

This policy outlines guidelines and accounting policies to ensure that inventory is properly controlled and costed, and losses or shortages are prevented. It applies to all inventory items, including raw materials/parts, work in progress, and finished goods and consigned inventory. The procedures focus on inventory valuation, slow moving and excess inventory/reserves, reconciliation of perpetual inventory, physical inventory, consigned inventory, scrap, intercompany transfers, and capitalized cost.

In this sample, inventories are stated at the lower of cost or market. The valuation method for each item of inventory shall remain consistent from one accounting period to the next accounting period.


 

 

Topics: KnowledgeLeader tools, weekly top 5

Add a Comment:

Subscribe to Our Blog

About KnowledgeLeader

KnowledgeLeader, provided by Protiviti, is the premier resource for internal audit and risk management professionals.

With over 1,400 customizable tools and 1,300 articles by industry experts, we offer the most comprehensive service on the market.

For more information:

 Tour the Site

Recent Posts

Posts by Topic

see all