The Controller's Toolkit

Get practical tools and guidance for financial controllership you can put to immediate use The Controller's Toolkit delivers a one-of-a-kind collection of templates, checklists, review sheets, internal controls, policies, and procedures that will form a solid foundation for any new or established financial controller. You'll get the tools and information you need to master areas like business ethics, corporate governance, regulatory compliance, risk management, security, IT processes, and financial operations. All of the tools contained in this indispensable book were recommended by corporate and business unit controllers from small to medium-sized companies and large, multinational firms. You will benefit from master-level guidance in areas like: Ethics, Codes of Conduct, and the "Tone at the Top" to support ethical behavior The operational and financial aspects of corporate governance The importance of the Committee of Sponsoring Organizations of the Treadway Commission Framework The requirement for entity-level controls The importance of linking the business plan with the budget process The Controller's Toolkit also belongs on the bookshelves of finance and accounting students, executives, and managers who wish to know more about the often-complex world of financial controls.

Preface xiii PART ONE 1 Chapter 1: About This Toolkit 3 Chapter 2: Defining the Role of a Controller 5 SECTION 1 – CORPORATE AND REPUTATIONAL RISK 13 Chapter 3: The Controller and Risk Management 15 Chapter 4: The Controller and Ethics 27 Chapter 5: The Controller and Corporate Governance 41 Chapter 6: Entity-Level Controls 59 SECTION 2 – STRATEGIC PLANNING AND MERGERS AND ACQUISITIONS RISK 73 Chapter 7: Strategic Planning and Mergers and Acquisitions 75 SECTION 3 – INTERNAL CONTROL RISK 103 Chapter 8: Internal Control Program 105 SECTION 4 – COMPLIANCE RISK 125 Chapter 9: Regulatory Compliance 127 PART TWO 151 SECTION 5 – PAYMENT RISK 153 Chapter 10: Procure-to-Pay 157 Chapter 11: Hire-to-Retire 215 Chapter 12: Order-to-Cash 243 PART THREE 287 SECTION 6 – FINANCIAL OPERATIONS RISK 289 Chapter 13: Record-to-Report 291 Chapter 14: Budgets, Forecasts, and Capital Budgeting 307 Chapter 15: Supply Chain Management and Inventory Control 327 Chapter 16: Treasury and Cash Management 351 Chapter 17: Shared Services and Business Process Outsourcing 373 Chapter 18: Dashboards, Data Validation, Analytics, Metrics, and Benchmarking 387 SECTION 7 – INFORMATION TECHNOLOGY RISK 397 Chapter 19: Information Technology Controls and Cybersecurity 399 SECTION 8 – BUSINESS CONTINUITY AND PHYSICAL SECURITY RISK 427 Chapter 20: Business Continuity and Physical Security 429 SECTION 9 – LEADERSHIP AND CHANGE MANAGEMENT RISK 447 Chapter 21: Leadership and Managing Change 449 Chapter 22: Trends, Process Transformation, and Digitization 457 PART FOUR 481 Glossary 483 Index of Controller's Tools 495 Key Performance Indicator Library 499 Index 517