These documents are ancillary to the Internal Controls certificate program and are to be used as guides for internal controls and internal audit.

This section provides a few templates and information sheets that can be utilized and refined. It is important to note that these tools should NOT be used as a simple check-list. They must be appropriately tailored to your organization. They are being provided to assist participants in brainstorming and developing the proper documentation needed to comply with the legislation. They include:

1. Internal Control checklist for cash receipts, cash disbursements and accounts payable – checklist

   This checklist provides generalized internal controls that would be expected or applicable to the cash receipts, cash disbursements and accounts payable process. It also provides ancillary information about controls around segregation of duties for those processes.

2. Internal Control checklist for Investments – Checklist

   This checklist provides generalized internal controls that would be expected or applicable to the investment process. It also provides ancillary information about controls around segregation of duties.

3. Internal Control checklist for Payroll – Checklist

   This checklist provides generalized internal controls that would be expected or applicable to the payroll process. It also provides ancillary information about controls around segregation of duties.

4. Internal Control checklist for Procurement & Payables – Checklist

   This checklist provides generalized internal controls that would be expected or applicable to the procurement process as well as additional controls that may be listed in checklist one on accounts payable. It also provides ancillary information about controls around segregation of duties.

5. Internal Control checklist Capital Assets – Checklist

   This checklist provides generalized internal controls that would be expected or applicable to the capital asset process. It also provides ancillary information about controls around segregation of duties.

6. Internal Control checklist Inventory – Checklist

   This checklist provides generalized internal controls that would be expected or applicable to the inventory process. It also provides ancillary information about controls around segregation of duties.

7. Internal Control checklist Revenue and Receivables – Checklist

   This checklist provides generalized internal controls that would be expected or applicable to the revenue and receivables processes. It also provides ancillary information about controls around segregation of duties.

8. Internal Control checklist Budgeting – Checklist

   This checklist provides generalized internal controls that would be expected or applicable to the budgeting process. It also provides ancillary information about controls around segregation of duties.

9. Internal Control checklist Financial Reporting – Checklist

   This checklist provides generalized internal controls that would be expected or applicable to the financial reporting processes. It also provides ancillary information about controls around segregation of duties.

10. Segregation of Duties Analysis for Treasury Process - Template

    Duties to consider determining the adequacy of SOD for cash receipts transactions/treasury are listed in the following chart. In smaller companies, these duties may also need to be reviewed along with other functions, as some individuals may have responsibilities in more than one area.

    To complete the matrix, first examine the responsibilities listed and tailor them to your entity. Next, list the responsible position or person in each of the columns. Then review the matrix and examine whether any responsibilities create SOD conflicts. Completion of this chart is intended to highlight potentially conflicting duties, not to be the only method of identifying all such conflicting duties.

11. Segregation of Duties Analysis for the Payroll Process - Template

    The duties to be considered in determining the adequacy of SOD for payroll transactions are listed in the following chart. In smaller companies, these duties may also need to be reviewed along with those of other functions, as some individuals may have responsibilities in more than one area.

    To complete the matrix, first examine the responsibilities listed and tailor them to your entity. Next, list the responsible position or person in each of the columns. Then review the matrix and examine whether any responsibilities create SOD conflicts. Completion of this chart is intended to highlight potentially conflicting duties, not to be the only method of identifying all such conflicting duties.

12. Segregation of Duties Analysis for the Accounts Payable and Purchasing Process - Template

    The duties to be considered in determining the adequacy of SOD for purchases transactions are listed in the following chart. In smaller organizations, these duties may also need to be reviewed along with those of other functions, as some individuals may have responsibilities in more than one area.

    To complete the matrix, first examine the responsibilities listed and tailor them to your entity. Next, list the responsible position or person in each of the columns. Then review the matrix and examine whether any responsibilities create SOD conflicts.

13. Segregation of Duties Analysis for the Revenue Process - Template

    The duties to be considered in determining the adequacy of SOD for those responsible for sales transactions are listed in the following chart. As with other functions, in smaller companies, these duties may need to be reviewed along with those of other functions, as some individuals may have responsibilities in more than one area.

    To complete the matrix, first examine the responsibilities listed and tailor them to your entity. Next, list the responsible position or person in each of the columns. Then review the matrix and examine whether any responsibilities create SOD conflicts. Completion of this chart is intended to highlight potentially conflicting duties, not to be the only method of identifying all such conflicting duties.

14. Overview Accounting Process Manual – Instructions

    When creating your initial accounting policies and procedures manual, start with an overview of your accounting process and system. Remember not everyone has an accounting background, so a review of the concepts and an overview of your people and software is the place to begin your manual. This document provides some information for creating an accounting process manual.

15. Instructions for Accounting For Assets Policy

    An asset management policy is a cornerstone of a solid and complete asset management strategy. It is like a compass pointing everyone at your organization in the right direction when making decisions about assets. It does this by providing a set of guiding principles, intentions, goals and methods for asset management, so everyone feels confident in their choices and contributions to the facility. This provides information for creating a complete assets policy.

16. Instructions for Revenue Recognition Policy

    Revenue recognition is a generally accepted accounting principle (GAAP) that stipulates how and when revenue is to be recognized. The revenue recognition principle using accrual accounting requires that revenues are recognized when realized and earned–not when cash is received. The revenue recognition standard, ASC 606, provides a uniform framework for recognizing revenue from contracts with customers. This document provides information for creating a revenue recognition policy.

17. Instructions and examples for Purchasing Policy

    Purchasing policies are typically a part of a company's overall operations handbook. It will describe the purpose for the policy, restrictions placed on employees, responsibility of purchasing department employees and other specific procedures or processes. This document provides information for creating a purchasing policy.

18. Instructions for Accounts Payable and Accounts Receivable Policy – Templates

    The accounts payable process is important since it involves nearly all of a company's payments outside of payroll. Regardless of the company's size, the mission of accounts payable is to pay only the company's bills and invoices that are legitimate and accurate. This document provides information for creating an accounts payable policy and as well as an example policy.

    Accounts receivable is defined as an asset that reflects a future payment. In actuality, an accounts receivable is a debt. How your business deals with the debt obligation, and the terms of the debt, must be clearly written in organizational policy that your staff understands. This document provides information for creating an accounts receivable policy as well as an example policy.

19. Instructions for a Financial Reporting Policy

    The Financial Reporting Procedure ensures that financial reporting is completed in accordance with legal and ethical requirement and accepted accounting practices; completed within the required time frame(s) and forwarded to required agencies; reviewed and signed by company officers who attest to the reasonable accuracy of the information; and available for the company’s needs. This document provides information on what to include in a financial reporting policy.

20. Example Fraud Policy

    The corporate fraud policy is established to facilitate the development of controls that will aid in the detection and prevention of fraud against the company. This is an example fraud policy outlining various components of information that organizations should consider.

21. Instructions for Developing a Code of Ethics Policy

    This provides information on what to include in developing a code of ethics policy.

22. Miscellaneous Policies

    This provides information on establishing various policies such as: Accounting for Expenses; Authorization Policy; Internal Control Policy; Records Management Policy

23. Documenting Controls and Processes using Narratives and Flowcharts

    This is a document that provides instructional information for how to write process narratives or create process flowcharts. It provides helpful hints on information critical to include in these documents whether documenting for internal audit, internal control or SOX procedures.

24. Audit Scoping Checklist

    This is a sample of an audit project scoping checklist.