Tools
The following tools were published on KnowledgeLeader this week:
Investment Income Policy
This Investment Income Policy sets forth the appropriate guidelines for recording revenue on the sale of investments. Under this policy, investments may be sold prior to maturity to make capital gains, but only with prior approval of the investment portfolio. Investments in marketable debt securities must be classified as "hold to maturity," "available for sale" or "trading.”
Investments Policy
Organizations can use this policy to set forth the appropriate guidelines for investing the surplus cash of the company. According to this policy, funds that foreign subsidiaries collect during the month should be first used to pay local obligations such as vendor payables, overdrafts, intercompany debt, commissionaire payments and notes.
Fraud Detection Guide
Auditing for fraud is more of an intuitive process than a formal, analytic methodology. Skills depend on the right mindset and practice. One seeks relevant information, organizes it in some meaningful way and then sees the pattern it creates. In this tool, we provide three guides that outline standards and steps organizations can use for effective fraud detection.
Project Management Office (PMO) Interim Status Reporting Guide
Outline your organization’s interim status reporting procedures and define its reporting dates and tools with this guide. The interim status reporting guide is created by the project management office (PMO) and sent out to all the integration leaders early in the PMO setup so that data can be captured and loaded into the workbench.
IT Project Charter
This sample establishes guidelines for creating an IT project charter. In this sample, clients desire to deploy a state-of-the-art labor management system to efficiently and accurately create standards that optimize operations, optimize service levels and maximize productivity; staff labor accurately based on forecasted business volumes; and utilize automatic scheduling to optimize labor costs.
Segregation of Duties Review Report
Adequate segregation of duties is an important consideration in determining if a company’s control activities are effective in achieving the objectives of internal control. A fundamental element of internal control is the segregation of certain key duties. Use the project overview, remediation road map and rollout plans included in this audit report sample to enhance your segregation of duties review process.
Publications
KnowledgeLeader has also published several publications this week.
Longtime Regulator Tom Vartanian on Crypto and a CBDC: Proceed With Caution
Tom Vartanian is the Executive Director of the Financial Technology and Cybersecurity Center, the Alexandria, Virginia-based nonprofit that advocates for dynamic financial services and public policies. In this VISION by Protiviti interview, Joe Kornik, editor-in-chief of VISION by Protiviti, and Vartanian discuss why crypto isn’t money and mammoth changes to the market if a CBDC is launched in the U.S.
The UK’s New Economic Crime and Corporate Transparency Bill
On October 26, 2023, the government enacted the Economic Crime and Corporate Transparency Act (the Act). This Act was deemed necessary to address the exposure of the U.K. to the risk of fraud and money laundering. In this article, Audit Analytics takes a closer look at some of the key features of the Act.
The Top Risks 10 Years Out: Global Risks Are Persistent
Capturing insights from 1,134 C-level executives and directors across multiple industries, Protiviti’s latest Top Risks Survey presents the most important uncertainties by industry, executive position, company size and type, and geographic area across a spectrum of macroeconomic, strategic and operational risks. In this issue of Board Perspectives, we’ve ranked the highest-rated risk themes, shown in order of priority, to provide a context for understanding the most critical uncertainties companies face looking forward to 2034.
Recommended Resources
This list of recommended resources from the web may be of interest to you. Click each link to learn more.