Tools

The following tools were published on KnowledgeLeader this week:

Asset Management Policy

This tool contains two sample policies that focus on maintaining an asset management system to monitor and manage investments made in fixed assets and inventory. In these samples, a company’s overall management objective is to obtain a maximum profit return on the assets utilized in the business. 

Duplicate Deductions Policy

This policy outlines a set of procedures for identifying and correcting duplicate deductions and/or rebate payments in a retail environment. It covers all duplicate trade and non-trade deductions used by a company and must be investigated according to the procedures provided within this document.

Audit Committee Report - Internal Audit Plan

This tool contains six sample audit reports that can be used to evaluate and improve the internal audit plan. In these samples, internal audit activities include establishing the company’s internal audit budget and obtaining audit committee approval for the internal audit plan.

Inventory Audit Work Program

The three samples included in this document will help you develop a plan to evaluate the processes needed to procure, store and manage inventories and to evaluate the effectiveness and efficiency of current inventory management processes.

Business Continuity Compliance Questionnaire

All organizations must develop, exercise, test and maintain plans for the resumption and recovery of business functions and processing resources. This tool contains three sample compliance questionnaires that can be used by auditors to evaluate the organization’s business continuity management process. 

Recommended Resources 

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

1. PCAOB Amends Auditor Requirements for Reporting Noncompliance
2. Winning at the Retail Supply Chain Game
3. ​​​OCC Soliciting Input on Proposed Trust in Banking Survey