Intercompany Accounting Policy
This tool contains two sample policies that outline guidelines and procedures related to an organization’s intercompany transactions process.
Customer Credit Policy
This tool includes two sample policies that provide guidelines for establishing customer credit limits, the credit hold and release process, and the ongoing credit review of customer accounts.
Physical Security Standard Policy
The purpose of this policy is to create and maintain a physically secure environment that protects company property and information from unauthorized access.
Complaint Reporting Process Questionnaire
This questionnaire focuses on issues that audit committees and management should consider as they collaborate to comply with the SECs rules pursuant to Section 301 of the Sarbanes-Oxley Act of 2002.
AUDIT ANALYTICS ARTICLE
AQRM Red Flags: Controls
Audit Analytics examines the red flag events concerning a company’s control environment, including control weaknesses, late filings and cybersecurity incidents.
HOT ISSUE ARTICLES
Recharging Your Agile Transformation
This article, part five in a five-part series, explores how to determine preparedness for an agile transformation and how to infuse new energy into agile transformations already underway.
CFPB Provides Further Guidance on MSAs Under RESPA Section 8
In this article, we outline the CFPB’s compliance aid to provide regulated entities greater clarity around the Real Estate Settlement Procedures Act.
NEW! Internal Audit Foundation and IIA Chairman of the Global Board Report — Future Ready: Upskilling Today for the Profession of Tomorrow
Learn ways internal auditors of all levels can sharpen their skills to continue adding value in today’s technology-driven landscape. Source: theiia.org
COSO Provides Guidance on Enterprise Risk Management in Cloud Computing
The COSO Committee issued guidance on enterprise risk management for cloud computing to help organizations using COSO’s ERM framework improve cloud governance. Source: illinoisnewstoday.com
How to Effectively Support Working Parents During a Crisis
Helping employees maintain health and efficiency during a crisis requires flexibility, empathy and consistent communication. Employers can follow these tips to help employees during a crisis. Source: journalofaccountancy.com
KLplus FREE CPE COURSE SPOTLIGHT
Introduction to the Internal Audit Profession
This basic-level course explains the general purpose, role and skills required of an internal auditor. The course explains the steps in an internal audit and the role of information technology in the audit process, as well as the roles of the audit committee and the benefits of internal audit functions to the audit committee. By the end of the course, the learner will be able to:
PREMIUM TOOL OF THE WEEK
Procurement Capability Maturity Model (CMM)
- Identify the roles of the internal auditor
- Identify the phases and corresponding activities of an internal audit review
- Identify ways that information technology (IT) relates to the audit process
- Identify the roles of the audit committee and the relationship with internal audit
- Recall the IIA's definition of internal audit
- Identify requirements and guidance provided by the IIA's Professional Practices Framework
This capability maturity model can be used to measure the maturity of an organization’s procurement process and to assist its progress from the initial/ad-hoc state toward the optimized state.
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Internal audit was a big trending search topic over the past week. We've published over 700 tools and publications related to internal audit on KnowledgeLeader, so dive in and explore all of the resources available to you!
CCH TAX AND ACCOUNTING - ACCOUNTING RESEARCH MANAGER UPDATES
Weekly Summary of Accounting, SEC, and Auditing Developments
TOP 5 PAGES ON KNOWLEDGELEADER
- Income Taxes – New Edition of Income Taxes Interpretation Published
- Leases – New Edition of GAAP Update Service Published
- Freedom of Information Act – SEC Updates Freedom of Information Act Regulations
- ARM Engagement Standards – New Edition of ARM Engagement Standards: Audit Engagements Published
- ARM Engagement Standards – New Edition of ARM Engagement Standards: Preparation, Compilation, and Review Engagements Published
- ARM Engagement Standards – New Edition of ARM Engagement Standards: Attestation and Nontraditional Engagements - AICPA Published
- Prospective Financial Information – 2021 Edition of AICPA Audit and Accounting Guide Published
- COVID-19 – AICPA Issues TQA on Accounting for Certain Grants Received under COVID-19 Programs
- Due Diligence – New Interpretation Published
- Risk Assessment – New Interpretation Published
- ElderCare Services Engagements – New Interpretation Published
- Audit Sampling – New Edition of GAAS Update Service AU-C Section 530
- Leases – New Edition of Governmental GAAP Update Service Discusses Implementation of GASB 87
These were the most popular items on KnowledgeLeader last week:
- Audit Data Analytics Leading Practices
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- IT Risk Assessment Policy
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