New Content on KnowledgeLeader - 2/3/2025

Tools

The following tools were published on KnowledgeLeader this week:

System Implementation Process Questionnaire

Meticulously evaluate and manage the various aspects of system implementations and upgrades with the three sample system implementation questionnaires included in this tool. By providing structured questions across multiple areas such as process integrity, application security, data conversion, system interfaces, implementation effectiveness, training, technical/user support, and project management, this questionnaire assists stakeholders in identifying potential risks and ensuring thorough preparation.

Post-Implementation Controls Audit Report

Evaluate the effectiveness of your newly implemented enterprise resource planning (ERP) systems, such as the company's business management applications. This report provides a comprehensive assessment of the control activities in place during and after the system implementation, identifying control gaps, design deficiencies, and areas for improvement. It serves as a valuable resource for internal audit teams to verify the implementation of corrective actions from previous audits and ensure that fixed assets, accounts payable, materials management and cash application processes are appropriately managed.

Whistleblower Policy

Utilize this policy to establish procedures and standards for handling your company’s accounting and audit-related complaints, which outlines the responsibilities of the audit committee in receiving, retaining, investigating and acting on complaints concerning questionable accounting practices, internal controls and auditing matters. This policy ensures that all allegations are dealt with seriously and systematically, providing clear channels through which employees and related parties can report concerns either openly, confidentially or anonymously.

Signature and Authorization Policy

This tool contains three sample policies that establish standards and procedures for signature approval and authorization requirements necessary to commit company funds or assets related to trade promotion and processing. In these samples, signatories certify by their signatures that the company has granted them the authority to approve programs or payments. Signatories also certify that they have reviewed the trade promotional deduction or payment and all related documentation and that it conforms to company policies and goals as well as all applicable laws.

Facilities Management Audit Work Program

This audit work program provides the general steps used to perform a facilities management audit. It provides guidance on reviewing facilities management best practices, understanding essential processes and obtaining information regarding the cost of facilities maintenance. Key areas covered include reviewing existing policies and procedures, assessing the effectiveness of space planning, maintenance operations, energy management, and security measures.

Order Entry/Customer Service Audit Work Program

Facilitate your order entry and customer service process audits with the best practices in this audit program sample. It outlines detailed project steps, including planning, fieldwork and report issuance, aimed at evaluating the efficiency and accuracy of customer service operations. The document includes specific queries about the roles and responsibilities of customer service personnel, the average number of orders processed and the time taken to process these orders.

Hotel Site Audit Training Material Guide

This manual can be applied to the following hotel processes: front desk, payroll, food and beverage, night/income audit, accounts receivable and collections, accounts payable, cashiering, maintenance and service agreements, and capital expenditures. It provides insight into in-room systems such as movies, internet access and mini-bars. The guide emphasizes the importance of data integrity, operating efficiency and maintenance costs, highlighting required interfaces between systems. It details key performance indicators (KPIs) like occupancy rates, average daily rates (ADR) and revenue per available room (REVPAR).

Publications

KnowledgeLeader has also published several publications this week.

Sanctions and Export Controls: The Current and Future Landscape for Global Financial Institutions

While financial institutions will still face challenges with sanctions compliance and detecting evasion, improvements made to sanction and export control compliance programs have better prepared them for managing the risks. That said, there were important developments in 2024, areas to watch in 2025, and, for some institutions, additional program enhancements to be made. In this whitepaper, we explain how financial institutions can refine their compliance efforts to navigate this complex environment effectively.

The Economist’s Dexter Thillien: Privacy in Peril Amid Digital Data Explosion

Dexter Thillien is the lead analyst for technology and data at The Economist Intelligence Unit, the research arm of The Economist. In this VISION by Protiviti interview, Joe Kornik, editor-in-chief of VISION by Protiviti, sits down with Thillien to discuss how privacy is in peril in the digital economy, the impact of emerging technologies on data protection, regulation vs. innovation, and how the private sector will play a significant role in data privacy in the future.

Auditor Changes Roundup: Q3 2024

Astra Audit & Advisory had the most net Securities and Exchange Commission (SEC) audit client gains in the third quarter of 2024 (Q3 2024), adding 10 new clients. Seven of these new engagements were previously audited by Accell Audit & Compliance. Multiple auditor change disclosures mentioned that Accell Audit & Compliance is ceasing to provide PCAOB audit services. In this article, Audit Analytics further examines Q3 2024 auditor trends, including client gains, market cap changes and audit fees.

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