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

1. Risk Assessment and Internal Audit Plan

The detailed risk assessment results in this sample audit report can help you measure and improve your organization’s internal audit process. By conducting a thorough risk assessment, the document provides management with insights into potential vulnerabilities within various business processes, ensuring that critical areas receive appropriate attention during audits. The plan is designed not only to comply with regulatory requirements, such as the Sarbanes-Oxley Act, but also to promote best practices in risk management and internal controls.  

2. Artificial Intelligence Best Practices

What is artificial intelligence? As technology continues to change our lives in many profound ways, artificial intelligence (AI) has emerged as the most profound and transformative development, seemingly capable of transforming entire industries. Business operations and how we work within our organizations may also change depending on how organizational leaders leverage AI and adopt best practices to harness its full potential. Utilize the artificial intelligence best practices in our latest blog post to refine your processes and prioritize security and responsible use.

3. Internal Control Failures: A Growing Web of Risk Factors

When internal controls falter, it’s rarely an isolated incident. These breakdowns often set off a chain reaction of deeper financial and operational risks. Over the past five years, data reveals a striking pattern: companies grappling with control failures are much more likely to face other warning signs, including troubling Altman Z-Scores, doubts about their ability to continue as a going concern, asset impairments, and the need to restate financial results. This web of interconnected risks underscores why strong internal controls aren’t just about preventing mistakes. They’re a crucial early warning system for looming instability.

4. Internal Audit Department Key Performance Indicators (KPIs)

This benchmarking tool provides a comprehensive framework for evaluating the performance of an internal audit department using different metrics and indicators. Key concepts discussed include developing effective communication strategies to drive management and employees to action. Metrics include monitoring the percentage of implemented recommendations within agreed-upon timelines, the frequency of surprises at exit meetings, report cycle times, and more. The concept of positioning internal audit as a change agent is also introduced with metrics like issues identified using facilitated sessions compared to traditional audit approaches. 

5. 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.

6. IT General Controls Questionnaire

IT general controls are critical and central to business processes. They typically impact multiple applications in the technology environment and prevent certain events from impacting the integrity of processing data. Computer operations, physical and logical security, program changes, systems development, and business continuity are examples of processes where general IT controls reside. The objective of these controls is to mitigate risks associated with their pervasive effect on the reliability, integrity and availability of processing relevant data. In this questionnaire, you can determine whether the control exists, whether it was designed properly, related test procedures and management's action plan for deficiencies.

7. 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.

8. 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.

9.Payroll/Human Resources Audit Work Program

Unlock the potential to strengthen your organization’s payroll and HR processes with our Payroll Human Resources Audit Work Program. This resource offers a proven, systematic approach to uncovering compliance risks and operational weaknesses before they impact your bottom line. By using this audit work program, companies can evaluate the effectiveness of their internal controls, ensure adherence to regulations and policies, and access targeted recommendations for improvement. The result is enhanced compliance, greater process accuracy, and robust protection for both employees and organizational assets.

10. Active Directory Audit Work Program

Our Active Directory Audit Work Program is designed to help organizations systematically assess and enhance the security of the active directory (AD) environment. By identifying vulnerabilities, evaluating current security controls and providing tailored recommendations, this audit framework enables businesses to safeguard critical data and ensure compliance with IT governance standards. From architecture and design to user management and termination protocols, it offers a structured approach to fortifying AD systems, making it an essential resource for organizations aiming to mitigate risks and optimize their directory services.