Tools
The following tools were published on KnowledgeLeader this week:
Social Media Risks Guide
Organizational social media use is rising and growing increasingly important from a risk management standpoint, yet formal processes for it remain a rarity. This guide can be used for identifying and mitigating social media risks within an organization.
Cash Accounts Audit Work Program
The best-practice general steps included in this tool can be used by organizations looking to perform a cash accounts audit. Sample steps include tracing the book balance on the reconciliation form to the balance per the general ledger and comparing the bank balance on the reconciliation form to the bank statement.
Construction Contracts Audit Work Program
The construction contract audit process is an important part of ensuring that construction projects are completed on time and within budget. This tool contains three sample work programs that you can use to build your own construction contract audit.
Appeals and Grievances Audit Work Program
Organizations can use the best-practice general steps included in this document to conduct an appeals and grievances audit. Sample audit steps include identifying key stakeholders and decision-makers and confirming and communicating straw man operating model and key actions.
Chart of Accounts Policy
Use the overall structure included in this policy to establish uniformity for chart of account codes and definitions and describe the process for maintaining control over the chart of accounts. According to this policy, accounts are arranged in the same sequence in which they appear in the financial statements.
Credit and Debit Memo Policy
This policy outlines a set of procedures for issuing credit and debit memos. It includes procedures for product and container deposit returns and head-office billings. It applies to all employees responsible for the initiation, recording and authorization of all types of customer account credits and debits.
Credit Card Data Purge Policy
This policy outlines procedures for the credit card data purge process, including a purge schedule. The payment card industry (PCI) data security standard requires that certain procedures are in place for compliance. In order to limit the risk and impact of a security breach, it is highly recommended that card numbers be truncated or purged as soon as they are no longer needed.
Publications
KnowledgeLeader has also published several publications this week.
2021 Auditor Market Share of Non-Profits
Non-profits are required to obtain an audit if the organization receives $750,000 or more in federal funding in a single fiscal year. In this article, Audit Analytics takes a closer look at the audit firm market share of non-profits broken down by sectors such as education, public services, housing, government and region, and more.
Eye on Energy: How the Enel Group's "Circular Cities" Are Changing the Game
Here is a panel discussion between Protiviti’s Joe Kornik and six representatives from the Enel Group about the future of cities, and in particular, the Circular City model.
Tech CFOs Discuss Banking Market Disruption and People Problems
CFOs in the technology sector met to discuss leading industry practices, trends and other topics of mutual interest in a virtual roundtable. Comments from the participating CFOs are summarized in this article.
Recommended Resources
This list of recommended resources from the web may be of interest to you. Click each link to learn more.
- Four Regulatory Developments to Follow in 2023
- Is It Time for Firms to Transform Their Business Model?
- The Transition to Renewable Generation and Smart Grids Brings Benefits and Challenges