NEWSLETTERS
Setting the 2021 Audit Committee Agenda
In this issue of The Bulletin, Protiviti suggests eight 2021 audit committee agenda issues and offers questions for audit committees to consider when self-assessing their performance.
One Year Later: Does The Business Roundtable Statement Matter?
This issue of Board Perspectives recaps the Business Roundtable’s latest statement and suggests ways directors can oversee the company’s affairs and serve the long-term interests of shareholders.
AUDIT REPORT
Sarbanes-Oxley Section 404 Status Report
This document includes two sample reports that can be used to communicate the results of a Sarbanes-Oxley Section 404 review and improve an organization’s internal control structure.
QUESTIONNAIRES
Evaluation of Control Deficiencies Questionnaire
This sample questionnaire can be used by auditors to efficiently assess and classify an organization’s control deficiencies.
Common Risk Language Questionnaire
This sample questionnaire contains best practices and questions to consider for communicating and prioritizing risk across an organization.
GUIDE
Business Continuity Planning Guide
This tool features two sample guides that can be used for implementing and maintaining an organization’s business continuity process.
POLICY
Chart of Accounts Policy
This tool contains two sample policies that establish standards for governing the handling of all of an organization’s financial transactions.
WORK PROGRAM
Firewall Audit Work Program
This tool contains two sample work programs that provide general steps organizations can use for conducting a firewall audit.
HOT ISSUE ARTICLES
Transparency, Empathy, Consistency, Frequency – Keys to Crisis Communications
This article recaps key takeaways from a Protiviti webinar discussion, focusing on best practices for communicating with clients during this time of COVID-19 and social unrest.
Lessons Learned from COVID-19: A Discussion for Board Members
This article outlines the remaining questions from Protiviti’s webinar discussion about ways board members can adjust to the new economy going forward.
FEATURED LINKS
Low Demand Leads to Shrinking Energy Industry Valuations
The coronavirus pandemic and other factors have resulted in shrinking valuations in the energy industry, according to experts at the AICPA/PDI Oil & Gas Online Conference. Source:
journalofaccountancy.com
What CFOs Can Do About Diversity
This article explores the shortage of diversity in the finance function and poses several interventions CFOs can use to improve diversity hiring results. Source:
cfo.com
Why Build a Cybersecurity Culture?
This article explains the best ways organizations can reduce cyber risk when building a culture of cybersecurity. Source:
isaca.org
SEC Aims to Reduce Unnecessary Auditor Independence Red Flags
This article lists the new amendments adopted by the U.S. Securities and Exchange Commission in regard to auditor independence. Source:
journalofaccountancy.com
KNOWLEDGELEADER'S GREATEST HITS!
Inventory Policy
This tool contains two sample policies that outline guidelines and accounting policies to ensure that inventory is properly controlled and valued and that losses or shortages are prevented.
FEATURED KLplus CPE TRAINING COURSE
Women in Leadership: Moving Beyond Gender Roles as a Leader
In this course, you will learn how to challenge your gender mindset, navigate gender-related differences in the workplace, uncover unconscious bias and address behaviors that marginalize women. The completed course is worth 0.5 CPE credit, by the end of the course, the learner will be able to:
- Discover the subject areas that will be covered in this course
- Recognize key statements about the power of gender mindsets
- Recognize how to navigate gender-related differences in the workplace
- Identify actions that help uncover and address unconscious bias
- Recognize behaviors that marginalize women in the workplace
- Knowledge Check: Overcoming Gender-Based Expectations of Leadership
CCH TAX AND ACCOUNTING - ACCOUNTING RESEARCH MANAGER UPDATES
Weekly Summary of Accounting, SEC, and Auditing Developments
- Lease Standard – IASB Proposes Amendments to its Leases Standard
- Mergers and Acquisitions – IASB Consults on New Accounting Requirements for Mergers and Acquisitions in a Group
- COVID-19 – PCAOB Publishes Spotlight on Insights and Reminders for Auditors in Light of COVID-19
- Securities Offerings – SEC Proposes Amendments to Modernize Framework for Securities Offerings and Sales to Workers
- Compensatory Securities Offerings – SEC Proposes Temporary Rules for Compensatory Offerings Under Rule 701 and Form S-8
- China-Based Issuers – SEC Staff Provides Disclosure Considerations for China-Based Issuers
- LIBOR – SEC Chairman Urges Companies to Proactively Transition Away from LIBOR
- ARM Engagement Standards – 2021 Edition of Audit Engagements: PCAOB Published
- Audit Engagements – 2021 Edition of ARM Engagement Standards: Preparation, Compilation, and Review Engagements Published
- Real Estate Entities – 2021 Edition of Knowledge-Based Preparations, Compilations, and Reviews of Real Estate Entities Published
- Employee Benefit Plans – 2020 Edition of Audit and Accounting Guide Published
- Depository and Lending Institutions – 2020 Edition of Audit and Accounting Guide Published
- COVID-19 – PCAOB Publishes Spotlight on Insights and Reminders for Auditors in Light of COVID-19
- ARSC Meeting Minutes – AICPA Publishes Accounting and Review Services Committee June 11, 2020 Meeting Minutes
- ASB Meeting Minutes – AICPA Publishes Auditing Standards Board August 12, 2020 Meeting Minutes
- ASB Meeting Minutes – AICPA Publishes Auditing Standards Board July 20-23, 2020 Meeting Minutes
TOP 5 PAGES ON KNOWLEDGELEADER
These were the most popular items on KnowledgeLeader last week:
- Internal Audit Risk Assessment Audit Committee Report
- Monthly Financial Close Process Checklist
- Entity-Level Controls Risk Assessment Questionnaire
- The Biden Administration: The First 100 Days and Winners and Losers
- Internal Audit and Risk Management: The Basics