I am developing a process for this myself, so I have been working on getting some things together. I don't have a "template", but I do have some ideas for you that I have been using to get started. First, I went through all of our HR policies/procedures and picked the ones that I wanted to ensure compliance with (I made sure that the ones I chose were measurable in some way). Second, I created a few different checklists to use as a guideline - one for legal compliance (specific to my state; you can probably get info on laws/regs from your state DOL website), one for data validation and accuracy in our HRIS, and one to check for cost controlling measures.
This is just a start, and as I said I am just now developing this as well, so I hope that helps a little bit.