1. Executive summary
| Key measures: | All Findings | Significant Findings |
|---|---|---|
| Average age of open findings : | 512 days | 706 days |
| Average age of past due findings: | 636 days | 750 days |
| Age of oldest past due finding: | 1674 days | 1674 days |
| Number of Past Due Findings: | 21 | 8 |
In the above, ratings consideration is also given to the number of retargeted observations with a rating reduction for every 2% of action plan dates retargeted for the first time in this quarter.
| Rating | Opening balance (as ofDec 31,2018) | Additions in the year | Expected to be closed by Dec 31, 2019 | Closed by IA | Accepted risk (No validation) | Open at end of period (A+B-D-E) | Open – On track | Open & Delayed |
|---|---|---|---|---|---|---|---|---|
| (A) | (B) | (C) | (D) | (E) | (F) | (G) | (H) | |
| Significant | 13 | 1 | 13 | 5 | 0 | 9 | 1 | 8 |
| High | 0 | 1 | 0 | 0 | 0 | 1 | 1 | 0 |
| Moderate | 17 | 4 | 15 | 7 | 0 | 14 | 5 | 9 |
| Low | 9 | 5 | 12 | 8 | 0 | 6 | 2 | 4 |
| Not Rated* | 0 | 2 | 2 | 2 | 0 | 0 | 0 | 0 |
| Total | 39 | 13 | 42 | 22 | 0 | 30 | 9 | 21 |
Scope Period: January 1, 2019 through December 31, 2019
Approach: For validating management action plan, the activities undertaken by internal audit included:
Requesting status updates and contact information from management;
Testing/validating evidence of management's resolution/disposition of the original finding for items expected to be closed and/or indicated as closed by management;
Preparing a report on the outcomes of the management action plan internal audit activity.
Conclusion: In the quarter, in total, 52% of findings that were expected to close in the period were closed.
- Closed as planned : There were 42 management action plans due to be implemented by December 31, 2019, or from prior periods, of which 22 were closed with a closure score of 52%
- Closed in advance: There was 1 management action plan closed ahead of schedule.
- Additions: 13 management action plans were added during the period.
- Retargeted Items: In the period, there were twenty (20) action plans retargeted. 13 of these 20 findings were retargeted for the first time in this quarter with a penalty of 26%
The overall trend for the year ending December 2019 has been classified as "Not Controlled" with an overall score of 26%.