Tools

The following tools were published on KnowledgeLeader this week:

Family Medical Leave Policy

Learn how the Family Medical Leave Policy, guided by the Family Medical Leave Act, helps employees manage their family and medical leave needs. This policy is essential for fostering a family-friendly workplace, allowing eligible employees to take up to 12 weeks of leave within a rolling 12-month period for various significant life events, such as the birth or adoption of a child, caring for a seriously ill family member, or addressing their own serious health conditions.

Hotel Financial Reporting and Revenue Recognition Audit Work Program

Utilize the best-practice steps in this audit program to perform a comprehensive review of your organization’s hotel revenue. Beginning with a structured review of the hotel's revenue streams—including rooms, food and beverage, conferencing, telecommunications, and other ancillary services—the program emphasizes the importance of mapping processes and assessing segregation of duties. Organizations are encouraged to scrutinize controls at every stage, from guest registration and rate management to checkout and post-departure charges, ensuring that all transactions are properly authorized and recorded.

Hotel Financial Reporting and Treasury Review Audit Work Program

Elevate your financial management skills with our hotel financial reporting and treasury review audit insights. The framework included in this tool provides a structured approach to reviewing key treasury functions within hospitality properties, promoting robust internal controls and effective risk management. The program guides users through the evaluation of critical processes such as cash handling, cashier procedures, front-office operations, room inventory management, guest billing and foreign currency transactions. It emphasizes safeguarding assets, verifying compliance with company policies, and identifying opportunities to enhance both efficiency and control.

Inventory Valuation Policy

Our Inventory Valuation Policy is designed to help organizations strengthen their inventory management and financial reporting processes. By offering clear, practical guidelines, this resource enables businesses to achieve greater accuracy and consistency in valuing their inventory, supporting compliance with accounting standards and minimizing risks related to misstatements or losses. Ideal for companies seeking to enhance their internal controls, this tool provides a structured set of procedures that can streamline operations and improve transparency, making it an essential asset for any organization interested in optimizing inventory practices.

Temporary Labor Service Contract Review Report

This Temporary Labor Service Contract Review Report offers an evaluation of contract management practices, billing processes and compliance controls within temporary staffing arrangements. Drawing on detailed audit procedures, the report examines how organizations process staffing requests, negotiate rates, manage subcontractors and monitor invoice accuracy. It highlights critical risks such as overpayment due to manual invoice validation, lack of access to current contractor data, and insufficient visibility in rate changes or contractor qualifications that can lead to inefficiencies and unnecessary costs. This review also uncovers gaps in documentation, identifies issues with duplicate or erroneous billings, and assesses whether contractual provisions like rebates and discounts are being properly applied.

Inventory Grading Policy

In a world where inventory management can make or break a business, understanding the nuances of grading inventory is essential for maintaining profitability and efficiency. This Inventory Grading Policy serves as a guide for organizations looking to identify and reserve slow-moving and obsolete inventory effectively. By implementing structured grading rules, businesses can proactively manage their stock levels, minimize waste and optimize their operational strategies. This policy outlines specific classifications like active, slow-moving and obsolete, each with distinct criteria that help decision-makers take timely actions to prevent losses and enhance resource allocation.

Physical Inventory Policy

This Physical Inventory Policy is designed to help organizations tighten control over their inventory, improve accuracy and ensure compliance with financial standards. With practical guidance and proven strategies, this resource empowers businesses to strengthen their inventory processes, minimize discrepancies and stay audit ready. This tool aids in maintaining precise inventory records and prepares organizations for audits, making it an essential resource for organizations looking to optimize their operational efficiency.

Publications 

KnowledgeLeader has also published several publications this week.

Key Benefits of Scalable Compliance Management 

In today's fast-paced business landscape, the ability to achieve scalable compliance is crucial for organizations looking to grow without becoming bogged down by operational challenges. As companies expand globally, they encounter a myriad of complex regulatory requirements that can hinder their progress. By adopting scalable compliance strategies, businesses can effectively navigate these challenges with ease. Centralized legal databases and real-time updates are essential tools in this endeavor, enabling organizations to stay ahead of the curve while minimizing inefficiencies and compliance risks.

AI Pulse Survey, Vol. 2: From Data Confusion and AI Confidence – Data Is the Foundation of Trustworthy AI

One truth remains constant in the fast-changing age of AI: data is both fuel and friction. In this latest edition of our AI Pulse Survey series, we explore the state of data quality and readiness to support AI efforts, uncovering both encouraging advancements and persistent challenges. Survey results reveal the value of having confidence in data. Respondents who are “very confident” or “confident” are more likely to report that AI investments have significantly exceeded their return on investment (ROI) expectations, and conversely, those respondents who are “not confident” or only “somewhat confident” in the quality of their data are more likely to report that their return on AI investments falls below their expectations.

Executive Perspectives on Top Risks for the Near- and Long-Term: Technology, Media and Telecommunications Industry Results

Technology, media and telecommunications (TMT) companies are navigating a rapidly evolving landscape of risks that demand immediate attention and strategic foresight. Artificial intelligence (AI) is at the heart of this transformation, fundamentally reshaping the challenges these industries face. From the growing sophistication of AI-driven cyber threats like deepfake scams and ransomware to talent shortages and increasing regulatory complexities, the stakes have never been higher. Leaders must act decisively to build resilience, develop their workforce, and manage risks effectively. In today’s fast-paced environment, balancing innovation with security and compliance is no longer optional—it is essential for survival and long-term success.

Recommended Resources 

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

1. Agentic AI Poised to Change the Way CPAs Work
2. Salesforce, PayPal COFOs Tout Agentic AI Potential: Trial Balance
3. AI Is Reshaping the Boardroom: Here’s How to Lead the Change