Check out the 10 most frequently viewed audit tools on KnowledgeLeader in the first quarter of 2025.

1. 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.

2. 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.

3. Internal Audit Plan Status - Report to the Audit Committee

Document updates on the internal audit plan status and its implications for the audit committee's decision-making process. This document is primarily used to communicate with the audit committee about the status of various audits and projects scheduled throughout the fiscal year. It details the execution stages of ongoing audits, including scope, fieldwork progress and reporting phases, as well as outlines the results and recommendations from audits completed within the quarter.

4. Accounts Payable RCM

A successful risk management strategy requires a strong internal control environment. The RCM format emphasizes that strong and risk-oriented internal control environments are often optimized with automated/manual controls, depending on the situation. An RCM provides an overview of different control objectives that organizations should take into consideration and the corresponding controls to safeguard the company against risks that may arise if not checked timely.  This document outlines risks and controls common to the 5.2.1 Process Accounts Payable process in a risk control matrix (RCM) format.

5. Human Resources (HR) Process and Compliance Audit Report

The objective of this review is to assess the overall effectiveness of human resources processes, with a specific focus on time reporting accuracy and completeness. This report primarily focuses on areas such as time reporting accuracy, payroll changes, recruitment, hiring and termination procedures. The tool identifies potential risks, inefficiencies and areas for improvement in these processes. It also provides detailed process maps for several HR functions, which can guide organizations in understanding and improving their workflows.

6. 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.

7. Internal Audit Feedback Questionnaire

This tool includes 10 sample questionnaires that can be used by internal audit functions to gather client feedback and measure client satisfaction. Sample questions include: What is your overall evaluation of internal audit’s performance for this project? How much value do you believe the audit provided to your group/department? How likely are you to use internal audit for future projects? How much would you be willing to recommend internal audit to other members of management? Would you ask internal audit for help in a situation warranting their attention? Does internal audit perform work efficiently and effectively in an acceptable amount of time? 

8. Internal Audit Plan

This audit report sample will guide your organization’s internal audit activities for a specific fiscal year. This tool outlines a methodical approach to auditing, starting with initial discussions with key stakeholders to identify high-level risks and potential areas of focus. These discussions help confirm the areas that require attention and subsequently gain endorsement from executive and audit committees. The plan details the projects to be undertaken, including their scope, timing and the resources required, ensuring that all activities are aligned with the organization's strategic goals and risk environment.

9. Accounts Receivable Policy

Our Accounts Receivable Policy establishes procedures to ensure consistency in your company’s accounting treatment of receivables. It covers various aspects of receivable management, including when to reserve, write off or recover a receivable, and how to handle billings, cash receipts and credit memos. It also provides guidelines on maintaining internal controls and accurate records within the accounts receivable function.  

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.