Financial Audit Toolkit

Save time, empower your teams and effectively upgrade your processes with access to this practical Financial Audit Toolkit and guide. Address common challenges with best-practice templates, step-by-step work plans and maturity diagnostics for any Financial Audit related project.

Download the Toolkit and in Three Steps you will be guided from idea to implementation results.

The Toolkit contains the following practical and powerful enablers with new and updated Financial Audit specific requirements:

STEP 1: Get your bearings

Start with...


• The latest quick edition of the Financial Audit Self Assessment book in PDF containing 49 requirements to perform a quickscan, get an overview and share with stakeholders.


Organized in a data driven improvement cycle RDMAICS (Recognize, Define, Measure, Analyze, Improve, Control and Sustain), check the…


• Example pre-filled Self-Assessment Excel Dashboard to get familiar with results generation


Then find your goals...

STEP 2: Set concrete goals, tasks, dates and numbers you can track

Featuring 995 new and updated case-based questions, organized into seven core areas of process design, this Self-Assessment will help you identify areas in which Financial Audit improvements can be made.

Examples; 10 of the 995 standard requirements:


1. What types of audit software or tools are commonly used to support the audit of government grants and other government-related transactions, and how do they help auditors identify and assess risks related to grant compliance and reporting?
   
   

2. How do changes in accounting estimates or assumptions, such as those related to inventory valuation or pension obligations, impact the financial audit process, and what additional procedures do auditors perform to address these changes?
   
   

3. What features do audit software and tools for auditing financial institutions and banking transactions typically have, and how do they help auditors identify and assess risks related to financial institution operations and transactions?
   
   

4. What types of audit software or tools are commonly used to support the audit of real estate and property transactions, and how do they help auditors identify and assess risks related to real estate and property valuation and operations?
   
   

5. In what ways can inadequate coordination and collaboration between internal audit functions and other assurance providers compromise the internal audit function, and how can auditors facilitate effective coordination and collaboration?
   
   

6. What are some common types of audit software or tools used to support the audit of stock-based compensation and equity transactions, and how do they help auditors identify and assess risks related to compensation and equity valuation?
   
   

7. What are the most common types of audit findings related to fraudulent activities, such as asset misappropriation or financial statement fraud, and how do these findings impact the organization's reputation and financial stability?
   
   

8. What procedures are performed to test the valuation of intangible assets or goodwill in the context of a special purpose entity or variable interest entity, and how are these procedures tailored to the specific entity structure?
   
   

9. What are some common types of audit software or tools used to support the audit of insurance and reinsurance transactions, and how do they help auditors identify and assess risks related to insurance and reinsurance operations?
   
   

10. What are the key differences in the audit approach for testing the valuation of intangible assets or goodwill held by entities in different industries or sectors, and how are these differences reflected in the audit procedures?
    
    


Complete the self assessment, on your own or with a team in a workshop setting. Use the workbook together with the self assessment requirements spreadsheet:


• The workbook is the latest in-depth complete edition of the Financial Audit book in PDF containing 995 requirements, which criteria correspond to the criteria in...


Your Financial Audit self-assessment dashboard which gives you your dynamically prioritized projects-ready tool and shows your organization exactly what to do next:


• The Self-Assessment Excel Dashboard; with the Financial Audit Self-Assessment and Scorecard you will develop a clear picture of which Financial Audit areas need attention, which requirements you should focus on and who will be responsible for them:
  
  


• Shows your organization instant insight in areas for improvement: Auto generates reports, radar chart for maturity assessment, insights per process and participant and bespoke, ready to use, RACI Matrix

• Gives you a professional Dashboard to guide and perform a thorough Financial Audit Self-Assessment

• Is secure: Ensures offline data protection of your Self-Assessment results

• Dynamically prioritized projects-ready RACI Matrix shows your organization exactly what to do next:



STEP 3: Implement, Track, follow up and revise strategy

The outcomes of STEP 2, the self assessment, are the inputs for STEP 3; Start and manage Financial Audit projects with the 62 implementation resources:


• 62 step-by-step Financial Audit Project Management Form Templates covering over 1500 Financial Audit project requirements and success criteria:


Examples; 10 of the check box criteria:


1. Cost Management Plan: Is Financial Audit project work proceeding in accordance with the original Financial Audit project schedule?
   
   

2. Stakeholder Analysis Matrix: Are the required specifications for products or services changing?
   
   

3. Variance Analysis: Does the accounting system provide a basis for auditing records of direct costs chargeable to the contract?
   
   

4. Change Management Plan: What are the key change management success metrics?
   
   

5. Responsibility Assignment Matrix: Are all elements of indirect expense identified to overhead cost budgets of Financial Audit projections?
   
   

6. Stakeholder Analysis Matrix: How are you predicting what future (work)loads will be?
   
   

7. Quality Audit: Is the continuing professional education of key personnel account fored in detail?
   
   

8. Procurement Audit: Is it on a regular basis examined whether it is possible to enter into public private partnerships with private suppliers?
   
   

9. Scope Management Plan: Are cause and effect determined for risks when they occur?
   
   

10. Human Resource Management Plan: Is the Financial Audit project schedule available for all Financial Audit project team members to review?


 
Step-by-step and complete Financial Audit Project Management Forms and Templates including check box criteria and templates.

1.0 Initiating Process Group:


• 1.1 Financial Audit project Charter

• 1.2 Stakeholder Register

• 1.3 Stakeholder Analysis Matrix


2.0 Planning Process Group:


• 2.1 Financial Audit project Management Plan

• 2.2 Scope Management Plan

• 2.3 Requirements Management Plan

• 2.4 Requirements Documentation

• 2.5 Requirements Traceability Matrix

• 2.6 Financial Audit project Scope Statement

• 2.7 Assumption and Constraint Log

• 2.8 Work Breakdown Structure

• 2.9 WBS Dictionary

• 2.10 Schedule Management Plan

• 2.11 Activity List

• 2.12 Activity Attributes

• 2.13 Milestone List

• 2.14 Network Diagram

• 2.15 Activity Resource Requirements

• 2.16 Resource Breakdown Structure

• 2.17 Activity Duration Estimates

• 2.18 Duration Estimating Worksheet

• 2.19 Financial Audit project Schedule

• 2.20 Cost Management Plan

• 2.21 Activity Cost Estimates

• 2.22 Cost Estimating Worksheet

• 2.23 Cost Baseline

• 2.24 Quality Management Plan

• 2.25 Quality Metrics

• 2.26 Process Improvement Plan

• 2.27 Responsibility Assignment Matrix

• 2.28 Roles and Responsibilities

• 2.29 Human Resource Management Plan

• 2.30 Communications Management Plan

• 2.31 Risk Management Plan

• 2.32 Risk Register

• 2.33 Probability and Impact Assessment

• 2.34 Probability and Impact Matrix

• 2.35 Risk Data Sheet

• 2.36 Procurement Management Plan

• 2.37 Source Selection Criteria

• 2.38 Stakeholder Management Plan

• 2.39 Change Management Plan


3.0 Executing Process Group:


• 3.1 Team Member Status Report

• 3.2 Change Request

• 3.3 Change Log

• 3.4 Decision Log

• 3.5 Quality Audit

• 3.6 Team Directory

• 3.7 Team Operating Agreement

• 3.8 Team Performance Assessment

• 3.9 Team Member Performance Assessment

• 3.10 Issue Log


4.0 Monitoring and Controlling Process Group:


• 4.1 Financial Audit project Performance Report

• 4.2 Variance Analysis

• 4.3 Earned Value Status

• 4.4 Risk Audit

• 4.5 Contractor Status Report

• 4.6 Formal Acceptance


5.0 Closing Process Group:


• 5.1 Procurement Audit

• 5.2 Contract Close-Out

• 5.3 Financial Audit project or Phase Close-Out

• 5.4 Lessons Learned


Results

With this Three Step process you will have all the tools you need for any Financial Audit project with this in-depth Financial Audit Toolkit.

In using the Toolkit you will be better able to:


• Diagnose Financial Audit projects, initiatives, organizations, businesses and processes using accepted diagnostic standards and practices

• Implement evidence-based best practice strategies aligned with overall goals

• Integrate recent advances in Financial Audit and put process design strategies into practice according to best practice guidelines


Defining, designing, creating, and implementing a process to solve a business challenge or meet a business objective is the most valuable role; In EVERY company, organization and department.

Unless you are talking a one-time, single-use project within a business, there should be a process. Whether that process is managed and implemented by humans, AI, or a combination of the two, it needs to be designed by someone with a complex enough perspective to ask the right questions. Someone capable of asking the right questions and step back and say, 'What are we really trying to accomplish here? And is there a different way to look at it?'

This Toolkit empowers people to do just that - whether their title is entrepreneur, manager, consultant, (Vice-)President, CxO etc... - they are the people who rule the future. They are the person who asks the right questions to make Financial Audit investments work better.

This Financial Audit All-Inclusive Toolkit enables You to be that person.

Includes lifetime updates

Every self assessment comes with Lifetime Updates and Lifetime Free Updated Books. Lifetime Updates is an industry-first feature which allows you to receive verified self assessment updates, ensuring you always have the most accurate information at your fingertips.