Audit and Control Issues &
Backup and Recovery Plans
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Template for: SHU Audit and Control & Backup Plans
It is usually better to establish controls before
something goes wrong. The lack of adequate controls could result in
financial ruin.
Audit Controls
The purpose of this section is to discuss audit controls. Financial
audits, system related audits, and any other controls necessary to ensure the
integrity of operations should be in place or developed quickly. A system of
checks and oversight authority should be well conceived to minimize
opportunities for fraud and human error.
Example:
Audit / Control Issue: Accounts Receivable Monitoring
- Person Responsible: M. Bondy
Action Plan: Verify that all payments received are deposited in the
company bank account that day. Bank deposit tickets will be compared with
the accounts receivable log on a regular basis by two separate people.
Business Recovery Plans
The purpose of this section is to discuss business recovery plans required
to ensure normal operations following a business interruption. In some
businesses, the tolerance for business recovery is a few weeks. In other
businesses, the recovery must be completed within a few days, hours or seconds
to prevent significant losses. As with all other aspects of horizontal unit
planning, the trade off decisions should be made within the context of the
business strategies and objectives.
Example:
Business Recovery Issue: Building Relocation Due to Building Damage
- Person Responsible: G. DePrez
Action Plan: Because of the possibility of fire, flood, asbestos
exposure or other event that would make our headquarters building
uninhabitable, we will secure an agreement to take immediate occupancy of
temporary offices for a period of up to six months. The agreement will
involve four other companies and will mean that if one of the other parties
to the agreement has to evacuate its headquarters for a similar reason, we
(and the other members of the agreement) will need to make available
substantial space for their employees. Our goal is to have the agreement in
place by the end of the year.
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