The action plan below highlights the progress that the CFIA will be making in completing the assessment of its key controls:
Capital asset class | 2011-12 | 2012-13 | Future Years | ||||||
---|---|---|---|---|---|---|---|---|---|
Documentation | Design Effectiveness | Operating Effectiveness | Recommendation & Action Plan | Documentation | Design Effectiveness | Operating Effectiveness | Recommendation & Action Plan | On-going Monitoring Program | |
Entity Level Controls | |||||||||
Values & Ethics | ✓ | ||||||||
Competency of Financial Staff | ✓ | ||||||||
Governance | ✓ | ✓ | ✓ | ✓ | ✓ | ||||
Risk Management | ✓ | ✓ | ✓ | ✓ | ✓ | ||||
Financial Management | ✓ | ✓ | ✓ | ✓ | ✓ | ||||
General IT Level Controls | |||||||||
Competency of Financial Staff | ✓ | ✓ | ✓ | ✓ | ✓ | ||||
Governance | ✓ | ✓ | ✓ | ✓ | ✓ | ||||
Risk Management | ✓ | ✓ | ✓ | ✓ | ✓ | ||||
Financial Management | ✓ | ✓ | ✓ | ✓ | ✓ | ||||
Business Process Level Controls | |||||||||
Revenue | ✓ | ✓ | ✓ | ✓ | ✓ | ||||
Pay | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | |||
Operating and Maintenance (ongoing) | ✓ | ✓ | ✓ | ✓ | ✓ | ||||
Statutory Compensation Payments | ✓ | ✓ | ✓ | ✓ | ✓ | ||||
Capital Assets | ✓ | ✓ | ✓ | ✓ | ✓ | ||||
Financial Close & Reporting | ✓ | ✓ | ✓ | ✓ |
1 – An on-going monitoring program will be established in fiscal year 2013-14 to identify the areas for continued or periodic observance, update and testing on a defined rotational basis consistent with the level of risk associated with the business process or IT system.