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Popular the Week of August 5: Entity-Level Controls Fraud Questionnaire and more!

Posted by Protiviti KnowledgeLeader on Wed, Aug 14, 2019 @ 08:10 AM

This week, we are highlighting the Top 5 Pages on KnowledgeLeader from August 5-9! Take a look at the "best of the best" of our tools that could help you simplify your audit projects.


1. Entity-Level Controls Fraud Questionnaire

This questionnaire template provides a number of COSO elements and the related control objectives for entity-level controls. Within the questionnaire, you can document whether the control exists, whether it was designed properly, related test procedures, and management's action plan for deficiencies. This document should be used as a general guide to use when creating an entity-level controls questionnaire. It does not address all controls that could be assessed during this process. Subscribers are encouraged to customize the questionnaire so that it reflects specific company practices and business operations.







2. Internal Audit Customer Satisfaction Questionnaire

This sample questionnaire can be used to survey internal audit’s performance on an audit or review.

Questions include: Were goals and objectives understood and agreed upon before the work began? Was the approach to the work effectively communicated? Was the work scheduled at an appropriate time? Did internal audit follow through with work on a timely basis? Were the agreed-to goals and objectives achieved? Were audit conclusions logical and well-documented?








3. 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.




4. Accenture PLC: Assessing Internal Audit’s Competencies of the Future Today

Accenture takes an innovation-led approach to helping clients ‘‘imagine and invent’’ their future. More than 60% of the global professional services company’s revenues come from its digital cloud and information security offerings.

‘‘Innovation is the name of the game for our client-facing business, as well as almost every other function within Accenture,’’ says Managing Director, Internal Audit Services, Kathy Perrott. ‘‘The entire company is committed to exploring new ways of doing things by leveraging new technologies and challenging ourselves to think and act creatively.’’ In this profile, Perrott discusses how she uses advanced technology approaches to build her team and operate more efficiently.





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

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