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Hi Katie -
Similiar to R Mullen's description, the following is included in all of our
audit reports.
The following table summarises the five categories of risk. Please note,
however, that it is intended to act as a guide only.
|-------------------+----------------------------------------------------|
| | |
| Risk Rating | Description |
|-------------------+----------------------------------------------------|
| | |
| Critical | Issue will require the attention of EXCO and |
| | immediate attention of the Board. |
|-------------------+----------------------------------------------------|
| | |
| High | Issue will require the attention of the General |
| | Manager of the Business Unit. |
|-------------------+----------------------------------------------------|
| | |
| Medium | Issue will require the attention of the Business |
| | Unit Manager. |
|-------------------+----------------------------------------------------|
| | |
| Low | Issue will require the attention of Junior Managers|
| | or Supervisors. |
|-------------------+----------------------------------------------------|
| Very Low | Issues can be implemented in due course by |
| | allocated staff within the Business Unit. |
|-------------------+----------------------------------------------------|
Kind regards,
Lauri Martin
Sr Audit & Control Analyst
+612 9256 0625
"Shellabarger, Katie"
<[EMAIL PROTECTED] To: <[EMAIL PROTECTED]>
bardes.com> cc:
Sent by: Subject: Audit Report -
Priority of Recommendations
[EMAIL PROTECTED]
et.org
07/03/03 06:50
Does 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?
Katie
Katie Shellabarger, C.P.A
Director of Internal Audit
Clark/Bardes Consulting
The Clark/Bardes Building
102 S. Wynstone Park Drive
North Barrington, IL 60010
847-594-6207 direct
847-620-2348 fax
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NYSE: CBC
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