A
definition that I have recently used for a large company was that a High had an
impact on the company or the division's ability to do business or would result
in a financial, regulatory, or reputational impact that had corporate or
divisional level effects. High issues also required the knowledge of and
support from the divisional president to be resolved. A medium had an
impact at a departmental or sub-divisional level and could be adequately
resolved by the senior management of the department or sub-division. A low
had little impact and could be resolved by local departmental or team
management.
-----Original Message-----
From: Shellabarger, Katie [mailto:[EMAIL PROTECTED]
Sent: Thursday, March 06, 2003 2:50 PM
To: [EMAIL PROTECTED]
Subject: Audit Report - Priority of RecommendationsDoes anyone include in their audit reports a priority of its findings and recommendations (i.e. 1 being the highest priority (you must change this now!) and 3 the lowest (you should probably change this, but if you don't get to it immediately it's ok). If so, would anyone be willing to share their definitions?KatieKatie Shellabarger, C.P.ADirector of Internal AuditClark/Bardes ConsultingThe Clark/Bardes Building102 S. Wynstone Park DriveNorth Barrington, IL 60010847-594-6207 direct847-620-2348 faxNYSE: CBC
