Tools
The following tools were published on KnowledgeLeader this week:
Human Resources Review Audit Work Program
Organizations can use the samples included in this audit work program to measure and improve the effectiveness of their human resources process. Sample work steps include conducting a planning meeting to discuss the scope, approach and timing with the internal audit team manager and obtaining and reviewing any relevant material on the human resources process.
Customer Relationship Management Assessment Report
Auditors can use this audit report template to assess and improve their organization’s customer relationship management process. In this sample, surveys are conducted to measure customer satisfaction as well as the performance of company personnel. The Tell-Us survey is conducted semiannually, and the member-owner survey is conducted annually.
Fixed Assets Policy
This tool contains three sample policies that establish guidelines and procedures for reviewing and understanding an organization’s fixed assets. In these samples, capital assets include equipment, property, furniture, fixtures and leasehold improvements that are acquired by the company in the normal course of business.
Inventory Valuation Policy
This policy outlines a set of procedures to ensure that inventory will be properly controlled and costed and prevent losses or shortages. This policy discusses the "lower of cost or market" valuation method and states that it should be applied to actual inventory quantities when determining the value of each item of inventory.
Capital Expenditures, Lease Commitments and Service Contracts Policy
“Capital expenditures” can be defined as any expense for significant assets or services used to enhance a company’s performance. These can include property, tools, office furniture and equipment, computer and copying equipment, and automobiles. This sample Capital Expenditures, Lease Commitments and Service Contracts Policy focuses on management of capital expenditures along with procedures for entering into leases and service contracts.
Internal Audit’s Role in Mergers and Acquisitions Guide
The high rate of merger and acquisition (M&A) failures indicates that organizations often underestimate the importance of risk management in M&A decision-making. This document can be used as a general guide for understanding the role of internal auditors in the M&A process.
Publications
KnowledgeLeader has also published several publications this week.
Is Your Board Technology-Engaged?
Regardless of the approach taken to engage management on technology matters, every director should be technology-engaged. In this issue of Board Perspectives, we explain how boards can engage the CEO and management team in strategic conversations regarding emerging technologies.
A Closer Look at Shareholder Votes Against Auditor Ratification – 2022
Among a variety of proposals, shareholder votes on auditor ratification remains a topic year-over-year during proxy season. In this article, Audit Analytics analyzes trends in how shareholders vote every year.
Recommended Resources
This list of recommended resources from the web may be of interest to you. Click each link to learn more.
- PCAOB Fines Three in Latest Reporting Requirement Sweep
- Balancing Opportunity and Risk: Security for RPA Platforms
- Final Regs. Allow Assessment of COVID-19 Related Tax Credit Refunds