Download the 10 most frequently viewed audit tools and publications on KnowledgeLeader in May.

1. Enterprise Risk Assessment Process Questionnaire

Our Enterprise Risk Assessment Process Questionnaire can be used to evaluate and enhance their risk management processes. This document is designed to facilitate discussions among board members, management and internal auditors regarding the identification, assessment and prioritization of risks that could impact the organization's strategic objectives. It includes a series of structured questions aimed at assessing the board's involvement in risk evaluation, the effectiveness of current risk management practices, and the alignment of these practices with the organization's overall strategy.

2. IT General Controls Audit Work Program

This tool contains four sample work programs that provide best-practice steps an organization should consider when evaluating its IT general controls environment. The objective is to assess how well the infrastructure, applications, policies and procedures support the organization’s operations. This evaluation involves identifying ITGCs through discussions with key IT personnel and reviewing relevant policies and documents. The design assessment compares current practices against leading IT frameworks such as COBIT and ITGI, allowing for a thorough understanding of the organization's adherence to best practices.

3. Internal Audit Status Update Report

Access our internal audit status update report for detailed information on enterprise risk planning (ERP) control changes and NIST CSF key areas. This document offers a detailed summary of an internal audit plan, including the status and completion percentages of various audit projects. It highlights completed audits, such as a company’s post-implementation review, providing insights into the scope, results and identified opportunities for improvement. This report also tracks the status of management action plans, validating the completion of agreed-upon action items and addressing any outstanding issues.

4. Entity-Level Controls Risk Assessment Questionnaire

Risk assessment is the component of the entity’s internal control that involves identifying and analyzing risks internally and externally. Risk assessment is relevant to achieving business objectives as well as objectives related to the preparation of reliable financial statements. This questionnaire template provides a number of COSO elements and the related objectives for entity-level controls. Within the questionnaire, you can document the control's COSO attribute, whether the control exists, whether it was designed properly, related test procedures, management's action plan for deficiencies, and more.

5. Process Classification Scheme (PCS)

The Process Classification Scheme (PCS) document, powered by Protiviti's KnowledgeLeader platform, provides a framework for businesses looking to categorize and understand their core functions and processes. This scheme delineates business activities into two primary categories: operating processes and managing and supporting processes, thereby providing a structured approach to analyze and optimize organizational performance. It is instrumental in identifying strategic, operational and tactical levels of business functions, promoting a common language for better communication and alignment within the company.

6. IT Data Management Audit Work Program

Improve your IT resilience and security posture with our IT Data Management Audit Work Program, evaluating data management and IT audit effectiveness. By outlining specific project steps, including tactical alignment and technology leverage, this work program enables you to assess the effectiveness of data governance, stability and reliability within your organization. It highlights critical risk indicators, such as the absence of a comprehensive data management plan and issues related to data integrity and availability, which can impact decision-making and operational efficiency.

7. Risk Assessment Questionnaire

Our Risk Assessment Questionnaire is designed to help organizations collect responses for risk assessment as preparation for annual budgeting and business planning efforts. Within this tool, you will find a risk assessment questionnaire with instructions for completion. It also provides additional information and reference materials, including a risk model, rating guidance, environmental risk definitions, process risk definitions and information risk definitions. It includes functional goals, top three to five risks in functional areas, companywide top three to five risks and quantitative risk ratings.

8. Security Management Audit Work Program

Our Security Management Audit Work Program provides a detailed framework for conducting comprehensive security audits within your organization. It outlines various methodologies to assess the effectiveness of information security measures, identify vulnerabilities, and evaluate risk management strategies across different facets of security management. It includes five sample audit work programs, each focusing on specific areas such as policy review, risk assessment, access controls, logical security and incident response. These samples serve as practical guides, offering step-by-step procedures for ensuring thorough evaluations and recommending necessary improvements. The program emphasizes the importance of aligning security policies with business objectives and regulatory requirements, thereby enhancing the overall security posture of the organization.

9. Procurement Card Audit Work Program

This tool contains two sample work programs that highlight general steps organizations should follow when conducting a procurement card (p-card) process audit. Sample 1 focuses on establishing and verifying the essential components of a procurement card (p-card) program. It begins by ensuring that all users and supervisors undergo training before receiving their cards, covering responsibilities, transaction procedures, spending limits, record-keeping and handling disputed charges. The sample also reviews cardholder agreements to confirm that they are acknowledged by both employees and managers.

10. Process Documentation Narrative and Flow Chart Guide

Documenting the understanding of a process, related controls, and key roles and responsibilities can be achieved through process narratives and flow charts. Both of these documentation techniques assist internal audit teams and those responsible for the processes with establishing a common understanding of a process. Once these documents are confirmed as accurate, they provide a baseline for performing risk analysis, testing internal controls and implementing process improvements as necessary. Discover the essential elements of process documentation narratives and flow charts with our comprehensive guide, including a process flow example.

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