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Audit Committee: How to Develop a Strong Self-Assessment Process

Posted by Protiviti KnowledgeLeader on Fri, Feb 01, 2019 @ 09:49 AM

The audit committee of the board of directors helps the board fulfill its responsibilities to the company and its current and potential shareholders, the investment community, and other stakeholders, with respect to its oversight of the following: 

  • The quality and integrity of the company’s accounting and reporting practices and controls.
  • The financial statements and reports of the company.
  • The company’s compliance with legal and regulatory requirements.
  • The independent auditor’s qualifications and independence.
  • The performance of the company’s internal audit function and independent auditors.
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Topics: accounting/finance, audit committee, self assessment, performance management/measurement, KL Tools

Self Assessment: Launching Here and Soaring Beyond

Posted by Protiviti KnowledgeLeader on Thu, Sep 27, 2018 @ 02:33 PM
First Step: Use Self-Assessment Within the Internal Audit Department

The first and simplest way to use the self-assessment process is to use it in determining your own internal audit function strategy and priorities. This is an excellent starting point, for numerous reasons:

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Topics: internal audit, risks and controls, self assessment

A Guide to Self-Assessment Value Proposition

Posted by Protiviti KnowledgeLeader on Mon, Oct 02, 2017 @ 06:40 AM

Self-assessment is a process through which an organization utilizes its internal knowledge to identify and assess uncertainties and the extent to which current practices are sufficient and appropriate to manage and achieve strategic objectives. Self-assessment drives the "tone at the top" down to process owners.

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Topics: internal audit, internal controls, entity-level control, self assessment

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