Wed, Oct 11, 2023


The following tools were published on KnowledgeLeader this week:

​Data Analytics and Audit Coverage Guide

‘‘Data analysis’’ is defined as the extraction of data from a client’s information system in order to perform data selection, classification, ordering, filtering, translation and other functions to provide the client with information about their business processes. This document includes two sample guides that can be used for understanding and leveraging an organization’s data analytics process.

Journal Entry Training Guide

Auditors need to understand the segregation of duties regarding the authorizing, posting and reviewing of journal entries and the separation of reconciliation reviews. This guide can be used to train auditors on the various aspects of an organization’s journal entry process. In addition, this tool includes management review considerations and common journal entry deficiencies.

IT General Controls Audit Work Program

This tool contains four sample work programs that provide general steps an organization should consider when evaluating its IT general controls environment. Sample steps in these programs include obtaining a copy of the information security policy and confirming that the policy addresses user authentication, password complexity and system security.

Internal Job Posting Policy

This sample policy is designed to help companies foster a workplace where qualified employees are encouraged to seek various career opportunities and gain valuable work experience. In this sample, employees interested in a posted vacancy must submit an updated resume and a transfer request form. The form should be available on the shared drive/intranet and in human resources.

Fringe Benefit Adjustment Policy

The procedures included in this sample policy can be used for the proper accounting treatment of fringe benefit adjustments. According to this policy, at the start of each fiscal year, a calculation should be made to spread by period the planned wage dollars used in establishing the annual budgeted fringe rate and the spread should be calculated based on the number of workdays per period.

Governance in Not-For-Profit Organizations Policy

The purpose of this policy is to provide guidance for not-for-profit organizations in the areas of mandate, roles of volunteer boards and executive directors, special board committees and their roles, and volunteer principles. This policy applies to the board of directors, the executive director, and all other employees and volunteers. In this sample, the board of directors is responsible for its members, stakeholders and major funders.

Rebates Process Audit Report

This report provides findings from a company’s rebate process review. The reviewed processes include the distributor group rebate process, the buyer group rebate process, and the rebate accounting process and general ledger. The purpose of the review was to identify potential control strengths and weaknesses within this process, test the controls specifically related to the distributor group rebate process, and provide recommendations that could assist in mitigating rebate-specific business risks.


KnowledgeLeader has also published several publications this week.

Take a New Approach to Succession Planning and Leadership Development

This issue of The Bulletin identifies four high-impact actions executive teams should take to invest the time, money and expertise needed to modernize their leadership succession and development programs. 

Former Schwab CEO Evelyn Dilsaver Talks AI, Crypto and Future of Financial Services

Evelyn Dilsaver is a recognized leader in building highly motivated teams in the public and nonprofit sectors. She is the former president and CEO of Charles Schwab Investment Management, where she led all facets of the business. Protiviti’s Joe Kornik and former Schwab CEO Evelyn Dilsaver reflect on financial services of the past and look ahead at a less predictable future with AI and crypto.

Repeat Adverse ICFR Assessments

Section 404 of the Sarbanes-Oxley Act of 2002 requires companies to annually review and disclose the effectiveness of their internal controls over financial reporting (ICFR). In this analysis, Audit Analytics explores how often companies receive multiple adverse ICFR disclosures and what issues continue to go unresolved.

Recommended Resources 

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

  1.  Five Ways to Build a Top Ethics and Compliance Team
  2.  ESG Journey Just Beginning, but Leaders Have a Clear Competitive Advantage
  3. Optimism on the Rise Among Large-Company CFOs, According to Survey