Ransomware: Analyzing Risk and Protecting Critical Assets
In this issue of Board Perspectives, we provide four ways boards can respond strategically to ransomware exposures.
Identity Access Management Capability Maturity Model (CMM)
This capability maturity model can be used to measure the maturity of an organization’s identity access management process and to assist its progress from the initial/ad-hoc state toward the optimized state.
Systems Audit Logging and Monitoring Policy
This sample policy is designed to help organizations define and comply with system audit logging and monitoring requirements.
Treasury Operations Scoping Memo
The purpose of this sample memo is to outline the scope, objectives, planned work and general timing of a treasury operations audit.
Transaction Authority Risk Key Performance Indicators (KPIs)
This tool contains performance measures and questions an organization can use to enforce and ensure the validity of transactions.
Organizational Alignment Risk Key Performance Indicators (KPIs)
The questions and leading practices provided in this tool can be applied to evaluate and improve an organization’s structure.
AUDIT ANALYTICS ARTICLE
AQRM Red Flags: Shareholder Activism
Audit Analytics examines shareholder activism risk and how it is defined and categorized within its Accounting Quality + Risk Matrix (AQRM).
FERC Order 2222 Levels the Playing Field for Distributed Energy Resources
Protiviti explains how DER companies can compete in the U.S. wholesale power markets with the Federal Energy Regulatory Commission final rule Order 2222. Source: blog.protiviti.com
Trends in Credit Reserves Reflect Economic Optimism
Protiviti illustrates some of the recent CECL reserving trends finance firms should consider as they overcome weaknesses stemming from the pandemic. Source: blog.protiviti.com
Ready to Strike a Deal? Five Best Practices to Ensure Repeatable Success in M&A Transactions
Five leading practices companies should use for achieving their merger or acquisition goals. Source: blog.protiviti.com
Internal Audit Foundation and Deloitte Release Global Research Study Assessing Internal Audit Competency
The IIA released the results of a new study that confirmed internal auditors have strong competence in core knowledge areas, but also have notable opportunities in innovative and emerging risk areas, as well as a critical need for additional resources. Source: theiia.org
Six Lessons From Audit Experts Who Adopted AI Early
Powerful new cloud-based tools offer a new approach to audit engagements, and clients are clamoring for it. But it can take years to perfect these new strategies — and the firms that haven't started may be falling behind already. Source: journalofaccountancy.com
Persevering Through Supply Chain Disturbances
Lumber prices skyrocketed as a result of the pandemic. One homebuilder’s CFO explains how the company navigated those tough and unpredictable waters. Source: journalofaccountancy.com
PREMIUM TOOL OF THE WEEK
Intellectual Property Capability Maturity Model (CMM)
This capability maturity model can be used to measure the maturity of an organization’s intellectual property management process and to assist its progress from the initial/ad-hoc state toward the optimized state.
KLplus CPE COURSE SPOTLIGHT
Physical Inventory - Introduction to Inventory Control Methods
This course will give you a fundamental understanding of the inventory control methodologies to use when working with or auditing clients in the manufacturing or retail industries. The completed course is worth 1.5 CPE credits and by the end of the course, you will be able to:
FEATURED TRENDING TOPIC
- Recall definitions of key manufacturing and accounting terms used to describe inventory movement transactions
- Identify the accounting impacts of inventory transactions
- Identify attributes of cycle count approaches
- Identify the steps of a reconciliation and differentiate it from a roll-forward
- Identify the benefits, drawbacks, and risks of count selection methods and the cycle count process
- Identify the documents that accompany common planning and movement transactions and when to record movement transactions
COSO was a big trending search topic over the past week. We've published over 50 tools and publications related to COSO 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
- Credit Losses – FASB Proposes Expanded Disclosures and Improved Accounting for Credit Losses Standard
- Intangible Assets – FASB Discusses Identifiable Intangible Assets and Subsequent Accounting for Goodwill
- Supplier Finance Agreements – IASB Proposes Enhanced Disclosure Requirements for Supplier Finance Arrangements
- Securities Loans – SEC Proposes Rule Amendments on Reporting of Securities Loans
- Security-Based Swaps – SEC Proposes Rule Amendments to Electronic Recordkeeping Requirements
- Construction Contractors – 2021-2022 Edition of Knowledge-Based Preparation, Compilation, and Review Engagements of Construction Contractors and Related Entities Tools Published
- Health Care Entities – AICPA Publishes 2021 Edition of Audit and Accounting Guide
- Life and Health Insurance Entities – AICPA Publishes 2021 Edition of Audit and Accounting Guide
- Single Audits – AICPA Publishes New Edition of Audit and Accounting Guide
- Presentation and Disclosure – AICPA Publishes 2021 Edition of Best Practices in Presentation and Disclosure Publication
These were the most popular items on KnowledgeLeader last week:
- Integrating Section 404 and Section 302 Compliance Questionnaire
- Enterprise Resource Planning (ERP) Post-Implementation Review Audit Work Program
- Manage Data Center Operations: Data Warehouse and Business Intelligence Management RCM
- Risk Assessment and Internal Audit Plan
- Enterprise Risk Assessment Process Questionnaire