Tools
The following tools were published on KnowledgeLeader this week:
Travel and Expense Reporting Audit Work Program
KnowledgeLeader has developed this Travel and Expense Reporting Audit Work Program to help organizations evaluate the effectiveness of their travel and expense reporting process. Sample steps include reviewing reports to ensure that the current IRS rate per mile was used to calculate the reimbursement amount and ensuring that commute miles have been subtracted from miles (calculated as either the mileage from home to work or from home to first place of business).
Corporate Responsibility Audit Work Program
This document contains two sample audit programs that outline general steps organizations can use to perform a corporate responsibility audit. Objectives of this type of audit include: assess the effectiveness of an organization’s corporate responsibility program through the measurement of compliance with benchmark objectives established by the corporate responsibility officers; and ensure the organization is continuing to put the elements of an effective compliance program into practice.
Financial Statement Risk Assessment Guide
This guide provides a detailed overview of key steps to the financial statement risk assessment process, which includes prioritizing financial reporting elements, defining processes, linking processes to financial reporting elements, prioritizing processes and finalizing the risk assessment. The financial statement risk assessment process outlined in this document prioritizes the financial elements and processes for Section 404 of the Sarbanes-Oxley Act of 2002.
Internal Audit Report and Response Processing Policy
Organizations can use the procedures included in this policy to prepare and issue internal audit reports. Under this policy, before leaving the audit location, internal audit will hold an exit conference to discuss the audit results. A major focus of the exit conference will be to agree upon the accuracy of matters proposed for inclusion in the audit report and recommended corrective actions.
Computer Software and Systems Consulting Costs Policy
Better account for your computer software and software consulting costs with the guidelines provided in this sample policy. According to this policy, capitalized computer software costs should be depreciated over a five-year period or a shorter period, which can be established as appropriate. If the use of a software program is discontinued before the end of its depreciation period, the remaining net book value should be expensed as a loss on the disposal of fixed assets.
Employee Development and Training Policy
The purpose of this document is to outline the framework that a company has in place to promote an environment that encourages and supports individual development and training. In this policy, each employee is expected and encouraged to take ownership and responsibility for their personal development and training concerning their work within the framework of support provided by the company.
Internal Company Knowledge Sharing Policy
The procedures included in this tool can be used by organizations looking to govern knowledge sharing. Under this policy, for nonconfidential proposals, all individuals in a lead role within the company, including those individuals leading our various product, industry and/or process groups, will be granted access to in-process proposal information and collaboration that is housed on the integrated knowledge management system and that pertains to their respective field of expertise.
Publications
KnowledgeLeader has also published several publications this week.
Setting the 2024 Audit Committee Agenda
In this issue of The Bulletin, Protiviti highlights eight 2024 audit committee agenda issues and explains how audit committees can evaluate their performance. When formulating these topics, we considered input from our interactions with client audit committees and insights from meetings with active directors in various forums.
Exploring an Evolving Payments Landscape With the Commonwealth Bank of Australia
Susan Yang is the general manager of international payments and network management at the Commonwealth Bank of Australia. In this VISION by Protiviti podcast, a pair of Protiviti payments experts sat down with Yang to discuss how she and her team are leading the ISO 20022 program and the digital international money transfer (IMT) strategy execution for CBA.
Is Your Business Ready for Digital Currencies? Dennis Chookaszian on What to Do Next
Dennis Chookaszian is a director, adjunct professor of strategic management at the University of Chicago Booth School of Business, and former chairman and CEO of CNA Insurance Companies. In this VISION by Protiviti interview, Joe Kornik, editor-in-chief of VISION by Protiviti, and Chookaszian discuss how, when and why companies should be accepting digital assets, including crypto and central bank digital currencies.
Recommended Resources
This list of recommended resources from the web may be of interest to you. Click each link to learn more.