Tools
The following tools were published on KnowledgeLeader this week:
Accounts Receivable, Credit and Collections Leading Practices
This tool features several leading practices for the accounts receivable, credit and collections process. Accounts receivable is among the largest and most liquid assets on the books of most companies. A properly managed accounts receivable portfolio can expedite cash flow and support corporate cash requirements.
Acquisition Policy
This tool contains two sample policies that detail the acquisition of new business(es) processes for an organization. These samples provide a consistent, uniform approach for identifying and evaluating potential acquisition candidates.
Security Management Audit Work Program
The general steps included in this work program can be used by organizations looking to conduct a security management audit. Sample work steps include: determine the extent of network connectivity internally and externally and the boundaries and functions of security domains; identify systems that have recently undergone significant changes, such as new hardware, software, configurations and connectivity; etc.
Spare Parts Inventory Audit Work Program
The purpose of this work program is to provide the general steps used for a spare parts inventory audit, including reviewing the procurement, storage and distribution of spare parts. Project work steps include conducting project planning, scope setting and auditee requests/coordination; developing a work program and other reporting templates; coordinating meetings with key process personnel; reviewing known best practices for initial benchmarking in the focus area; etc.
Equity Compensation Review Audit Report
Utilize this audit report sample to evaluate the effectiveness and efficiency of your organization’s equity compensation process. According to this sample, the compensation committee has the authority to determine individuals eligible to receive grants under the incentive stock plans.
Publications
KnowledgeLeader has also published several publications this week.
2023 IPOs: Annual Market Share and Analysis
In this article, Audit Analytics further examines the decline in IPO market share for fiscal year 2023. Initial public offerings (IPOs) saw a five-year low in 2023, with only 165 new listings during the year. Together, these companies raised $23.9 billion, an average of $145 million per offering. Compared to 2022, IPOs decreased by 14%, while total proceeds raised increased by 11%, showing that while fewer companies were listing, the size of the listings was greater.
Cybersecurity Expert: The U.S. Is Facing Big Challenges
In this VISION by Protiviti interview, Joe Kornik, editor-in-chief of VISION by Protiviti, sits down with Vartanian to discuss U.S. readiness when it comes to cyber warfare with our adversaries. Thomas Vartanian is an author, lawyer, futurist, and board member and executive director of the Financial Technology and Cybersecurity Center, a nonprofit based in Alexandria, Virginia.
Key Medical Coding Audit Topics Compliance Auditors Should Consider
In this whitepaper, we list steps organizations can take to enhance billing accuracy and compliance with thorough medical coding audits and prioritize high-risk areas for optimal revenue management in healthcare. As provider organizations develop their compliance and/or coding audit work plans, they should follow best practices and review the industry’s high-priority topics for consideration, including the OIG Work Plan and recent enforcement activities.
Recommended Resources
This list of recommended resources from the web may be of interest to you. Click each link to learn more.
- Managing Change in Audit Technology Transformation
- AI and Fraud: What CPAs Should Know
- A New Playbook: Responding to Slower Growth, Changing Customer Behaviors