Tools

The following tools were published on KnowledgeLeader this week:

Prepaid Expenses Policy

This tool contains two sample policies that establish standards and procedures for identifying and recording organizations’ prepaid expenses in the general ledger in compliance with management’s objectives. Prepaid expenses represent amounts that have been paid but the related service or benefit due that the company has not yet received. 

Patient Admission Policy

Learn about our Patient Admission Policy and insurance benefits verification process for a streamlined and efficient experience. Patient admission is accomplished by performing a clinical patient evaluation prior to admission and performing a financial patient evaluation or insurance benefits verification and obtaining pre-certification/pre-authorization prior to or immediately following an admission.

Treasury and Cash Management Audit Work Program

This document includes two sample treasury and cash management work programs that focus on adequacy of controls, overall efficiency and effectiveness of processes, and compliance with policies and procedures. Specific areas of review include wire transfers, investments, cash management, foreign exchange exposure, interest rate swaps and check issuance practices.

Casino Audit Work Program

This casino audit work program covers reviews of live gaming tables, electronic gaming devices, cashiering and credit, currency transaction reporting, and more. Project work steps include observing and reviewing opening, closing and shift change procedures; observing and reviewing fill and credit procedures; observing and reviewing drop box removal procedures; and observing and reviewing soft count procedures and subsequent transfer of funds.

Manage Legal and Ethical Issues Key Performance Measures (KPIs)

Instilling an ethical work culture and ensuring compliance with laws, regulations and culturally based expectations are processes led by top-down management. They involve every stakeholder within the company's purview. This tool contains two examples of how to standardize key performance measures for managing and understanding an organization’s legal and ethical issues.

Cost of Sarbanes-Oxley Compliance Guide

An optimized organization’s change management process is a competitive advantage and continuous improvement is enabled by quantitative feedback and innovative ideas and technologies. This guide defines the Sarbanes-Oxley Act (the Act), explains who is subject to SOX compliance and outlines key sections of the Act. Organizations can use this guide to measure and reduce the cost of Sarbanes-Oxley (SOX) compliance and improve IT process effectiveness.

Business Maturity Assessment Report

Evaluate current- and future-state processes and gain insights into management strategies with the CMM in this audit report sample.  Recommendations include reviewing the organizational structure to align it with the business strategy; considering whether payroll should be moved from finance to human resources; and appointing additional accounting staff to ensure appropriate segregation of duties, oversee new system implementation and address the list of finance priorities.

Publications 

KnowledgeLeader has also published several publications this week.

Motivating the Multigenerational Workforce of 2030

Any predictions made before 2020 about the future of work have changed with COVID-19, inflation and social movements of the past two years. The workforce of 2030 looks very different than once expected. Prior to 2020, the U.S. labor force included five generations working side by side for the first time in history. In this whitepaper paper, we discuss how HR professionals and managers can engage the multigenerational workforce of 2030. 

Building Your Toolkit for Quantifying Cyber Risk

Quantifying cyber risk is an important decision-support process that involves identifying, assessing and evaluating potential risks associated with a particular course of action or decision. It helps organizations make informed decisions by providing a better understanding of the measured risks involved and their possible consequences. This article discusses the process of cyber risk quantification (CRQ) and its benefits in prioritizing risks, allocating resources effectively and mitigating cyber threats.

African Union Development Agency CEO: Infrastructure, Investment Keys to Continent’s Future

Nardos Bekele-Thomas is CEO of the African Union Development Agency (also known as NEPAD, the New Partnership for African Development). Previously, Bekele-Thomas was the resident coordinator of the United Nations in South Africa. In this VISION by Protiviti interview, Joe Kornik, editor-in-chief of VISION by Protiviti, sits down with Nardos Bekele-Thomas to talk about what the continent needs to thrive in the future; namely, investment and infrastructure. 

Recommended Resources 

This list of recommended resources from the web may be of interest to you. Click each link to learn more. 

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