KnowledgeLeader Blog

Segregation of Duties: Key Facts You Need to Know

Posted by Protiviti KnowledgeLeader on Thu, Mar 19, 2020 @ 04:45 PM

Segregation of duties (SODs) is an important concept to internal control frameworks, financial reporting and regulatory compliance, including the Sarbanes-Oxley Act (SOX). It is a component of an effective control environment. The overall effectiveness of management’s internal controls depends on SoDs to a large extent. For effective internal controls, there needs to be an adequate division of responsibilities.

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Topics: COSO, Internal Controls, IT Controls, Process-Level Control, Segregation of Duties

Are You Properly Managing Cash Flow Risks?

Posted by Protiviti KnowledgeLeader on Fri, Jan 31, 2020 @ 09:48 AM

Cash flow management is the mobilization of company funds, the investment of these funds to produce income and compensation of the banks that support the process. Cash managers use most noncredit services of banks, as well as of some nonbanks.

 

 

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Topics: Risk Assessment, Investments & Foreign Exchange, Accounting/Finance, Process-Level Control, Cash & Treasury

Do You Have Adequate Documentation for Your Business Processes?

Posted by Protiviti KnowledgeLeader on Fri, Oct 27, 2017 @ 07:07 AM

Good process documentation doesn’t just describe how things work—it tells a story of an organization’s modus operandi (MO). As with any storytelling, it’s possible you might sit down to document your process and encounter writer’s block. There it is, the dreaded blank page taunting you as you struggle to decide how to get started.

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Topics: Internal Audit, Process-Level Control, Document Retention

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