Mon, Apr 8, 2024

Tools

The following tools were published on KnowledgeLeader this week:

Jury Duty Policy

The purpose of this policy is to allow employees to fulfill their civic obligation to jury duty service. This policy states that active full-time and part-time benefits-eligible employees are eligible for jury duty pay in accordance with their regularly scheduled hours. Employees who are on a leave of absence are not eligible for jury duty pay. 

Employee Expense Policy

The purpose of this policy is to document the process that the corporate accounts payable (AP) department will follow when processing employee expense reports. According to this policy, the company will provide employees and authorized nonemployees with travel and meeting accommodations consistent with business needs. 

Risk Assessment Audit Work Program

Our Risk Assessment Audit Work Program is designed to assess and validate key controls in place for the risk assessment component of the COSO framework. Inadequate or ineffective controls in this area may give rise to financial and operational risks.

Flexible Benefits Audit Work Program

Assess and enhance your company's flexible benefits plan with the questions and procedures in this audit program sample. Sample questions include: Does your company offer any type of flexible benefits plan? If so, describe what your flexible plan offers. How do you ensure that your flexible benefits program complies with IRC 125, COBRA, HIPAA and FLMA? 

System Post-Implementation Audit Work Program

Organizations can use the three audit program samples in this tool to assess the usage, supporting information technology processes and infrastructure of their systems. Sample audit steps include meeting with key contacts to gain a high-level understanding of the process and discussing audit objectives and preparing/finalizing the audit work program and timing.

Expenditure Process Review Report

Our Expenditure Process Review Report includes a future-state design to consider when reviewing your organization’s expenditure plan. Future-state design characteristics include vendor management is centralized with a better control environment (compliance reviews of new vendors) and a more effective data structure exists for easier vendor reporting.

Publications 

KnowledgeLeader has also published several publications this week.

The World Bank's Ed Olowo-Okere: Let's Reimagine Government for Good

In this VISION by Protiviti Interview, the World Bank’s Ed Olowo-Okere sits down with Charles Dong, global public sector industry lead for Protiviti and Joe Kornik, editor-in-chief of VISION by Protiviti, to discuss the World Bank’s new social contract and call to action for governments around the world to reinvent themselves as they face unprecedented health, economic and fiscal challenges. 

Reporting by the UK’s Largest Private Companies

In January 2024, the Financial Reporting Council (FRC) issued its latest thematic review covering the quality of reporting in the United Kingdom’s largest private companies. The review focuses on the areas of most importance to stakeholders and those areas where they expect to see the highest risk of noncompliance. In this article, Audit Analytics further examines areas of improvement in reporting by the U.K.’s largest private companies. 

2024 Global Board Governance Survey

Protiviti is pleased to publish its inaugural Global Board Governance Survey. This study — developed by Protiviti, BoardProspects and Broadridge — is, we believe, the first of its kind. It offers insights regarding the board’s priorities, performance and governance practices from the different perspectives of more than 1,000 directors and C-suite leaders.

Recommended Resources 

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

  1. Using Data Analytics to Identify Physician Coding Opportunities
  2. The Auditor’s Approach to Fraud: Enhanced With Forensics
  3. Cost Management a High Priority in 2024

 

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