Internal Control Toolkit

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Function as a liaison with the internal audit function and external auditors regarding matters of internal control over financial reporting and respond to audit findings; design and implement processes and procedures to remedy control findings.

More Uses of the Internal Control Toolkit:

  • Guide: implement the staffing strategy and ensure that the audit teams are appropriately staffed to deliver the annual audit plan with a highly competent and diverse team.

  • Warrant that your organization leads the development of directives, standard operating procedures, and/or other related guidance associated with internal control over operations, financial or financially related systems.

  • Ensure you magnify; understand internal control design concepts to assess the effectiveness of controls and design new effective processes and controls for emerging and growing business activities.

  • Assimilate and synthesize complex processes and information to see trends and patterns of business issues, identify critical issues and anticipate a range of impacts.

  • Secure that your organization oversees the development and execution of the annual internal audit plan to monitor your organizations financial, operational, and internal control processes for compliance.

  • Be accountable for supporting AML program requirements related to controlling risk to your organization and to your communities by operating existing and new internal controls, ensuring compliance with policies and procedures.

  • Confirm your organization assess risk exposure, oversee the enterprise risk management program, and identify and administer appropriate property, casualty, and liability insurance for your organization.

  • Oversee: vendor management assesses vendor performance, risk profiles and mitigation strategies, vendor mix, review and assess vendors internal controls and external audits.

  • Warrant that your organization participates in erp implementation and identifies/recommends methods to improve operational procedures, systems, internal control and process improvements.

  • Ensure your organization applies, as appropriate, activity and data modeling, transaction flow analysis, internal control and risk analysis and modern business methods and performance measurement techniques.

  • Establish that your organization audits financial and operational records and data to determine the effectiveness of internal controls and the level of compliance with applicable statutes, rules, procedures, policies, and regulations.

  • Be accountable for evaluating the adequacy of and effectiveness of policies, procedures, processes and internal controls and providing credible challenge to business aligned compliance partners, front line businesses and front line control.

  • Direct: monitor emerging best practices in internal controls, regulatory compliance, and validation programs and adopt continuous improvement principles to support enhanced control environment.

  • Apply internal control concepts in a wide variety of information technology processes and appropriately assess the exposures resulting from ineffective or missing control practices.

  • Identify: influence the design of systems, processes and controls for emerging and growing business activities to ensure internal controls are always considered and optimized.

  • Make sure that your organization performs and oversees defined audit procedures to test internal controls and compliance with organization policies, procedures, standards and guidelines.

  • Be accountable for preparing formal written reports on the adequacy and effectiveness of the current system of internal control and the efficiency with which activities in the branch, support departments or independent organization are carried out.

  • Develop and execute the risk based audit plan through monitoring of progress, allocation of staff, and ongoing evaluation of corporate priorities and risks.

  • Be certain that your organization recommends internal control and fiscal control policies related to internal financial accounting systems and procedures and develops internal and fiscal control policies and procedures.

  • Support and develop policies and internal controls working with legal and compliance teams and business owners to ensure you are complying with regulatory obligations on an annual basis.

  • Be accountable for establishing the procedures for detection and correction of data quality issues and the collaborate to establish policies procedures and internal controls affecting the quality of data.

  • Secure that your organization performs independent review with the use of data analysis procedures on populations of transactions to validate the adequacy and effectiveness of business processes, internal controls, and regulatory compliance.

  • Confirm your organization participates in financial management, asset management, personal property programs, and internal controls projects to address the development of policy, guidelines, and procedures.

  • Oversee the development and implementation of necessary compliance policies, procedures, and internal controls consistent with legislative and regulatory requirements/expectations, emerging trends, and industry best practices.

  • Identify and evaluate complex business and technology risks, internal controls which mitigate risks, and related opportunities for internal control improvement.


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 991 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 991 standard requirements:

  1. Is the internal audit function prepared to advise the Chief Data Officer and/or data management function with any changes to your organizations use of data by providing a risk control perspective?

  2. How corporate governance rules shape the internal control practice and the risk management practice and the role played by the internal auditors in the internal control and the risk management?

  3. Can the external boundaries and interconnections and internal boundaries and topology of the enterprises networks be reliably determined, characterized and understood at any point in time?

  4. How do your organizations culture, code of conduct, human resource policies and performance reward systems support the business objectives and risk management and internal control systems?

  5. Does your system have internal financial controls that provide for a separation of duties among the receipt, deposit, and accounting of funds, and the preparation and signing of checks?

  6. Do your organizations culture, code of conduct, human resource policies and performance reward systems support the business objectives and risk management and internal control system?

  7. What process is Education using to catalog its data collections, and to what extent does that process include internal controls to ensure the accuracy of the information collected?

  8. Should internal audits role/responsibilities extend beyond the adequacy of financial reporting and controls, to include other major risks and challenges facing your organization?

  9. Have requirements for coordination between internal survivability organizational elements been defined and a process for surfacing and resolving technical issues identified?

  10. Are ERP systems offer internal auditing tools for more timely and ongoing assurance that internal control system would work effectively and risk is properly mitigated?

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 991 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. Team Performance Assessment: To what degree can all members engage in open and interactive considerations?

  2. Network Diagram: How difficult will it be to do specific activities on this Internal Control project?

  3. Quality Audit: How does your organization know that its policy management system is appropriately effective and constructive?

  4. Human Resource Management Plan: What areas does the group agree are the biggest success on the Internal Control project?

  5. Human Resource Management Plan: Is there a set of procedures defining the scope, procedures, and deliverables defining quality control?

  6. Stakeholder Analysis Matrix: Do recommendations include actions to address any differential distribution of impacts?

  7. Activity Duration Estimates: Which is a benefit of an analogous Internal Control project estimate?

  8. Activity Duration Estimates: Research risk management software. Are many products available?

  9. Decision Log: What is the line where eDiscovery ends and document review begins?

  10. Planning Process Group: Are the follow-up indicators relevant and do they meet the quality needed to measure the outputs and outcomes of the Internal Control project?

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



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.