Thankyou for all of your "high quality" responses from the UK to Austrailia. I created the following summary from the eight responses I received.
"Defining a Critical Issue" Critical Issue (Significant Issue) An issue that needs to specifically be brought to the attention of the Board of Directors. Issues where the Impact and the Likelihood of the impact occurring are both relatively High. Key Impacts - Those with the following nature: * Financial (Reporting, Cost Control, Revenue) * Legal (Regulatory Sanctions, Penalties) * Reputation (Detrimental Public Interpretation) * Strategic (Impacts Achievement of Top Organizational Goals) Other Impacts * Liquidity/Credit (Ability to Continue Operations) Action Plan Rate each issue as High, Medium, or Low based on the definition above. For all High issues to be reported to the Board attempt to quantify or describe the type of impact in two or three sentences. Thanks Again, Dan Clayton 303 436-8821 Internal Auditor, CPA Office of Integrity DHHA *=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=*=* To unsubscribe from this list send an email to [EMAIL PROTECTED] and include the message unsubscribe auditprograms-l and your name.
