Tools
The following tools were published on KnowledgeLeader this week:
Audit Planning Memo
This tool provides three sample planning memos, which serve as a report of an internal audit function’s high-level assessment of the company’s audit planning process and outline what should be included in an audit planning memorandum. The audit planning memo can be used for reviewing the effectiveness of the function and confirming that the scope and direction of the group are aligned with industry best practices.
Foreign Exchange Management Policy
This tool contains three sample policies that set forth the appropriate guidelines for foreign exchange management. According to this policy, while maintaining foreign exchange transaction costs within budget targets, it is the company’s policy to minimize foreign exchange losses due to balance sheet exposures.
Instant Messaging Policy
This policy helps define the acceptable use of IM at a company and extends the policies outlined in the acceptable use policy. Under this policy, stringent rules on IM use at a company are required to minimize the risk of technology resources being disrupted or damaged by attack.
Insurance Verification (Healthcare) Policy
Ensure that patient benefits are verified prior to or immediately following an admission or outpatient procedure with the guidelines in this policy. Under this policy, personnel performing insurance verification should contact the payer to verify the following items: active and eligible status, plan type, worker’s compensation, out-of-network benefits eligibility, overall benefits, and more.
Internal Audit Competency Model and Assessment Guide
We’ve compiled a guide that suggests competency objectives for internal auditors at junior, intermediate and senior levels. The competency model in this guide sets expectations about the types and levels of skills that all internal auditors within a department are expected to possess. The skill sets within this competency model are examples and will not be standard or complete for all organizations.
Guide to Prioritizing Using the Nominal Group Technique
This guide allows a group to rank a list of options or ideas in order of importance in a group meeting or brainstorming session. Some of the steps include obtaining the starting list of ideas (options, problems, etc.) from the project team or have everyone on the team write down (or say) the ideas that he or she feels is most important and recording ideas on a flipchart or board if idea collection is verbal.
Publications
KnowledgeLeader has also published several publications this week.
Employee Awareness and Training
Cybersecurity success is achieved when an organization has secure systems (hardware and software) and adequate monitoring and training for its employees, contractors and vendors. This article shares how leadership teams can build companywide cybersecurity awareness and maintain a secure organization.
Westpac Group: Refocusing for Relevance
Westpac’s internal audit team aims to create better futures together by providing objective and insightful assurance and building trust with all its stakeholders. Scott Kieran, Westpac Group’s Chief Audit Executive, discusses how his team has become a well-run, more technology-enabled function to become more relevant.
The Past, Present and Future of the U.S. Dollar With David Cowen, President and CEO of MoAF
In this VISION by Protiviti interview, David Cowen, with the Museum of American Finance, walks through a brief history of money in the United States – long before there was a U.S. dollar – from the museum’s historical collections, which were instrumental while Lin-Manuel Miranda was writing the Broadway musical “Hamilton.”
Recommended Resources
This list of recommended resources from the web may be of interest to you. Click each link to learn more.