5. Risk acceptance

5.1 Formal Risk Acceptance

No findings noted in this year

5.2 Implied Short Term Risk Acceptance

This section indicates those findings for which management is implicitly accepting the risk of not having the control in the short run (from the point of identification until the planned resolution). All findings that are open for more than 1.5 years from the date of the report have been listed under this section as follows:

#	Audit report	Observation # and name	Retargets		Executive approval from	Rationale
1	WDTC	51 – Strategic plan not documented	Original Due Date	December 31, 2016	Chief Executive Officer	There is short-term risk that any initiatives undertaken by the Tunnel will not be sufficiently coordinated and informed. This is mitigated by WDBL’s business plan that addresses its operations, and financial initiatives.
			Retarget Date	Dec 31, 2020
			# of Retargets	4
			Days since Identification	4 years 6 months
			Days past Original Due Date	3 years
2	Solid Waste	101 -Agreement Between the City of Windsor and EWSWA	Original Due Date	June 30,2016	City of Windsor Chief Administrative Officer	The required changes to the agreement identified during the discussions to date will not result in substantive changes to the financial or operational relationship between the parties. Therefore continuation with the current agreement until the parties can finalize the changes does not pose a major risk to the corporation and is therefore an acceptable risk until such time as the finalization of the revised agreement can be prioritized.
			Retarget Date	September 30, 2020
			# of Retargets	4
			Days since Identification	4 years 1 month
			Days past Original Due Date	3 years 5 months