KnowledgeLeader Blog

Popular This Week: Executive Perspectives on Top Risks in 2019 and more!

Posted by Protiviti KnowledgeLeader on Wed, Dec 19, 2018 @ 08:46 AM

This week, we are highlighting the Top 5 Pages on KnowledgeLeader from December 10-14! Take a look at the "best of the best" of our tools that could help you simplify your audit projects.

"" 1. Executive Perspectives on Top Risks in 2019

Protiviti and North Carolina State University’s ERM Initiative are pleased to provide this report focusing on the top risks currently on the minds of global boards of directors and executives. This report contains results from our seventh annual risk survey of directors and executives to obtain their views on the extent to which a broad collection of risks is likely to affect their organizations over the next year.


2. 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.





3. Human Resources (HR) Process and Compliance Audit Report

The objectives of this audit report are to obtain an overall, high-level understanding of the accounts payable process and related functions; evaluate the adequacy and effectiveness of key internal controls and overall operational effectiveness related to the accounts payable and disbursements process; assess the existence and adequacy of policies and procedures; and identify opportunities for process and control improvement.



4. 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.





5. Enterprise Security Capability Maturity Model (CMM)

This document includes a capability maturity model and the six elements of infrastructure that can be used to evaluate an organization’s enterprise security practices. In this process, the OPTIMIZING phase shows that functional teams analyze problems to determine their root causes, removing any errors or faults and improving information technology (IT) management effectiveness. This is a primary focus at this stage.


Topics: KnowledgeLeader tools, weekly top 5

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