Internal Control Toolkit

Save time, empower your teams and effectively upgrade your processes with access to this practical Internal Control Toolkit and guide. Address common challenges with best-practice templates, step-by-step work plans and maturity diagnostics for any Internal Control 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 Internal Control specific requirements:

STEP 1: Get your bearings

Start with...


• The latest quick edition of the Internal Control 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 994 new and updated case-based questions, organized into seven core areas of process design, this Self-Assessment will help you identify areas in which Internal Control improvements can be made.

Examples; 10 of the 994 standard requirements:


1. In the healthcare industry, what internal control activities should be implemented to ensure the accuracy and completeness of patient data, including electronic health records (EHRs), medical charts, and billing information, such as implementing data validation and verification processes, conducting regular data quality audits, and enforcing segregation of duties between clinical and administrative staff?
   
   

2. In the healthcare industry, what internal control activities should be implemented to ensure compliance with Medicare and Medicaid regulations, including billing and claims processing, medical necessity, and benefits coverage, such as implementing claims editing software, conducting regular audits of claims submissions, and enforcing segregation of duties between billing and clinical staff?
   
   

3. What internal control activities are essential for retail organizations to manage cash handling and point-of-sale (POS) transactions, including monitoring cash drops, implementing cash handling procedures, and conducting regular audits of POS systems, including monitoring for suspicious transactions and enforcing segregation of duties between cash handling and accounting functions?
   
   

4. How does the organization's internal control framework facilitate communication and collaboration between various stakeholders involved in supply chain operations, including procurement, logistics, and quality control, and what measures are in place to ensure that supply chain risks and opportunities are identified and addressed in a timely manner to optimize business performance?
   
   

5. What specific internal control activities should healthcare organizations implement to ensure the confidentiality, integrity, and availability of electronic protected health information (ePHI) and comply with HIPAA regulations, such as encrypting data at rest and in transit, implementing role-based access controls, and conducting regular security risk assessments?
   
   

6. How can financial services firms design internal control activities to manage risks associated with third-party vendors, including IT service providers, law firms, and auditors, such as implementing vendor risk assessments, conducting regular audits of vendor contracts, and enforcing segregation of duties between procurement and accounts payable functions?
   
   

7. In the healthcare industry, what internal control activities should be implemented to ensure accurate and reliable financial reporting, including revenue recognition, accounts receivable, and billing processes, such as implementing a revenue cycle management system, conducting regular audits of financial statements, and enforcing segregation of duties?
   
   

8. What are the potential consequences of ineffective internal controls on an organization's ability to implement and sustain effective change management processes, including its ability to respond to changes in the market, industry, or regulatory environment, and how can these issues impact an organization's long-term sustainability and competitiveness?
   
   

9. What internal control activities are necessary for retail organizations to manage vendor relationships, including onboarding, compliance, and performance monitoring, such as implementing vendor risk assessments, conducting regular audits of vendor contracts, and enforcing segregation of duties between procurement and accounts payable functions?
   
   

10. How does the organization ensure that its internal control system is scalable and adaptable to changing business conditions, such as mergers and acquisitions, changes in regulatory requirements, or shifts in market conditions, and what processes does it use to reassess and adjust its internal controls in response to these changes?
    
    


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 Internal Control book in PDF containing 994 requirements, which criteria correspond to the criteria in...


Your Internal Control 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 Internal Control Self-Assessment and Scorecard you will develop a clear picture of which Internal Control 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 Internal Control 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 Internal Control projects with the 62 implementation resources:


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


Examples; 10 of the check box criteria:


1. Source Selection Criteria: Do you ensure you evaluate what you asked for, not what you want to see or expect to see?
   
   

2. Probability and Impact Matrix: My Internal Control project leader has suddenly left your organization, what do you do?
   
   

3. Procurement Audit: Does the strategy include a policy for identifying and training suitable procurement staff?
   
   

4. Project Performance Report: How will procurement be coordinated with other Internal Control project aspects, such as scheduling and performance reporting?
   
   

5. Activity Duration Estimates: Why do you need a good WBS to use Internal Control project management software?
   
   

6. Team Member Status Report: What specific interest groups do you have in place?
   
   

7. Scope Management Plan: Does the implementation plan have an appropriate division of responsibilities?
   
   

8. Activity Duration Estimates: Are time, scope, cost, and quality monitored throughout the Internal Control project?
   
   

9. Schedule Management Plan: Are assumptions being identified, recorded, analyzed, qualified and closed?
   
   

10. Procurement Management Plan: Is an industry recognized mechanized support tool(s) being used for Internal Control project scheduling & tracking?


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

1.0 Initiating Process Group:


• 1.1 Internal Control project Charter

• 1.2 Stakeholder Register

• 1.3 Stakeholder Analysis Matrix


2.0 Planning Process Group:


• 2.1 Internal Control project Management Plan

• 2.2 Scope Management Plan

• 2.3 Requirements Management Plan

• 2.4 Requirements Documentation

• 2.5 Requirements Traceability Matrix

• 2.6 Internal Control 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 Internal Control 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 Internal Control 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 Internal Control 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 Internal Control project with this in-depth Internal Control Toolkit.

In using the Toolkit you will be better able to:


• Diagnose Internal Control 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 Internal Control 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 Internal Control investments work better.

This Internal Control 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.