DBS Bank: Using Data to Highlight Risks, Increase Resilience and Usher in the Future of Audit
In this profile, Derrick Goh, managing director and head of group audit at DBS, describes how data has helped his team be more flexible in their thinking during the COVID-19 crisis.
Risk Assessment Guide
This tool contains two guides that can be used by auditors to understand and improve their risk assessment process.
Sarbanes-Oxley Compliance and Disclosure Timeline Guide
This sample document can be used as a general guide to help companies comply with the Sarbanes-Oxley Act of 2002 pursuant to a public debt offering.
Common Fraud Scenarios Guide
This tool contains three guides that can be used by auditors to identify and mitigate common fraud schemes.
Disclosure Committee Charter
This document provides two examples of guidelines for creating a disclosure committee charter.
Third-Party Access and Usage Policy
This sample policy is designed to help organizations determine whether combined third-party and company systems meet or exceed all security requirements.
IT Risk Assessment Policy
The objective of this policy is to provide a standardized approach and operating instructions for the execution of a company’s IT risk assessment.
Close-the-Books Key Performance Indicators (KPIs)
Organizations can use the leading practices included in this tool to measure and improve their close-the-books process.
AUDIT ANALYTICS ARTICLE
Impacts of COVID-19 on Public Companies
Audit Analytics looks at the pandemic’s impacts on certain aspects of financial reporting and financial health metrics of public companies.
Ransomware: Preventing an Attack and Responding to and Recovering From an Attack
This issue of The Bulletin
focuses on the six components of cyber resilience and provides countermeasures businesses can use to manage the risk of ransomware attacks.
PREMIUM TOOL OF THE WEEK
Purchase Materials and Supplies RCM
This document outlines risks and controls common to the "purchasing of materials and supplies" process in a risk control matrix (RCM) format.
Returning to the Office with an Adaptable, High-Performance Team
A look at post-pandemic corporate culture and how organizations can create an effective reemergence model for employees returning to the office. Source: blog.protiviti.com
Guidelines for Serving Limited English Proficiency Consumers Emphasize Expectations and Risks for Financial Institutions
Protiviti highlights the CFPB’s new LEP guidance and explains why financial institutions should use it as a road map for serving LEP consumers. Source: blog.protiviti.com
EBP Audits Set for Major Changes, More Transparency
Employee benefit plan audit procedures and reporting will undergo a significant shift as SAS No. 136, as amended, is implemented. Source: journalofaccountancy.com
IIA Comments on ESG Ratings and Data Products Providers
The IIA made a public comment in a letter to the International Organization of Securities Commissions (IOSCO) in response to their consultation report aimed to assist its members with ESG ratings and data products providers. Source: theiia.org
Budgeting for Cybersecurity Requires a New Approach
It’s time for CFOs to dump the traditional line-item method to setting cybersecurity spending. Source: cfo.com
KLplus CPE COURSE SPOTLIGHT
Physical Inventory - Performing the Physical Inventory
In this course, we will cover performing the physical inventory and the risks associated with this phase of the process. The completed course is worth 1 CPE credit and by the end of the course, you will be able to:
FEATURED TRENDING TOPIC
- Distinguish between Free Onboard Shipping Point and Free Onboard Destination
- Identify physical inventory counting approaches and best practices
- Identify guidelines for recording, analyzing and finalizing inventory counting results
Entity-level control was a big trending search topic over the past week. We've published over 70 tools and publications related to entity-level controls 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
- Climate Change Disclosures – SEC Staff Publishes Sample Letter to Companies Regarding Climate Change Disclosures
- Financial Instruments – IASB Seeks Views on IFRS 9 Review
- FASB Agenda – New Edition of GAAP Update Service Published
- Proxy Voting – SEC Proposes to Enhance Proxy Voting Disclosure by Investment Funds and Require Disclosure of “Say-on-Pay” Votes for Institutional Investment Managers
- Audit Evidence – PCAOB Issues Staff Guidance on Evaluating Relevance and Reliability of Audit Evidence Obtained from External Sources
- Not-for-Profit Organizations – 2020-2021 Edition of Knowledge-Based Preparation, Compilation, and Review Engagements of Not-for-Profit Organizations (Post-SSARS-25) Published
- Audit Planning – New Edition of GAAS Update Service Published
- Unpaid Fees – AICPA’s PEEC Proposes Revisions to Unpaid Fees Interpretation
- Insurance Entities – AICPA’s FinREC Issues Working Draft for Insurance Entities on Retrospective Adoption of Market Risk Benefits Guidance and the Effect of Historical Amortization of Acquisition Costs
- GASB Technical Plan – New Edition of Governmental GAAP Update Service Published
These were the most popular items on KnowledgeLeader last week:
- Accounts Payable RCM
- Risk Assessment and Internal Audit Plan
- Entity-Level Controls Risk Assessment Questionnaire
- Internal Audit Risk Assessment Questionnaire
- Enterprise Risk Management Questionnaire