Excel Finance Template 32445 | Item 7 Copy Of Compliance Checklists

Partial file snippet.

Sheet 1: Universe Regulatory

	
	
	
	
	
		
 
		
		

		

	
	
		

		

	
	
		

		

	
	
		

		

	
	
		

		

	
	
		

		

	
	
		

		

		

		

	
	
		

		

		

		

	
	
		

		

		

		

	
	
		 - The acts listed below are those acts identified in the South African legislative universe that can be administered in the Council. 
		

		

		

	
	
		 - The list is by no means in order of importance but is rather in alphabetical order.
		

		

		

	
	
		

		

		

		

	
	
		#.
		ELRC Regulatory Universe                                                                               
		
	
		

		Act Name
		Category
		Affected Programme / Business Unit/ Structures
	
	
		1
		Administrative Adjudication of Road Traffic Offences Act (AARTO)
		Secondary
		SCM
	
	
		2
		Basic Conditions of Employment Act (BCEA)
		Secondary
		HR
	
	
		3
		Compensation for Occupational Injuries and Diseases Act (COIDA)
		Secondary
		HR, Finance
	
	
		4
		Constitution of Republic of South Africa
		Secondary
		All Programmes / Structures
	
	
		5
		Employment Equity Act (EEA)
		Secondary
		HR
	
	
		6
		Employment of Educators Act
		Core
		DMS, CBS
	
	
		7
		Further Education and Training Colleges Act
		Core
		CBS
	
	
		8
		Income Tax Act
		Secondary
		Finance
	
	
		9
		Labour Relations Act (LRA)
		Core
		All Programmes / Structures
	
	
		10
		National Education Policy Act
		Secondary
		CBS
	
	
		11
		Occupational, Health and Safety Act (OHSA)
		Secondary
		SHE Committee
	
	
		12
		Pension Funds Act
		Secondary
		HR
	
	
		13
		Prevention and Combating of Corrupt Activities Act (PRECCA)
		Topical
		All Programmes / Structures
	
	
		14
		Prevention of Organised Crime Act (POCA)
		Topical
		All Programmes / Structures
	
	
		15
		Promotion of Access to Information Act (PAIA)
		Topical
		All Programmes / Structures
	
	
		16
		Protection of Personal Information Act (PPIA)
		Secondary
		All Programmes / Structures
	
	
		17
		Public Holidays Act
		Topical
		HR
	
	
		18
		Skills Development Levies Act
		Secondary
		HR
	
	
		19
		South African Council of Educators Act
		Secondary
		CBS
	
	
		20
		South African Qualifications Authority Act
		Secondary
		HR
	
	
		21
		South African Schools Act
		Secondary
		CBS
	
	
		22
		Unemployment Insurance Fund
		Secondary
		HR
	
	
		23
		Children's Bill of Rights of 2007
		Core
		DMS, CBS
	
	
		24
		Sexual Offences Act 32 of 2007
		Core
		DMS, CBS
	
	
		25
		Child Care Act 74 of 1983 amended 01 April 2010
		Core
		DMS, CBS
	
	
		26
		Criminal Procedures Act of 2008
		Topical
		DMS, CBS
	
	
		27
		Children's Act 38 of 2005
		Core
		DMS
	
	
		28
		

		

		

	



Sheet 2: Universe Policies

	
	
	
	
	
	
	
	
		ELRC Business Compliance Universe
		Inherent Risk Level
		
	
		#
		Business Unit
		 #
		Business Policies and SOPs
		Compliance Related Risks
		Likelihood
		Impact
		Indicator
	
	
		1. 
		Executive Services
		1
		Fraud Prevention Plan
		Financial 
		Low 
		Critical
		Medium (8)
	
	
		2
		Performance Information policy
		Business
		Medium
		Critical
		Medium (12)
	
	
		3
		ELRC Constitution
		Legal; financial; reputational; business 
		Low
		Catastrophic
		Medium (10)
	
	
		4
		Policy on Delegations and Scheduling of Authorisation Levels
		Financial and business
		Minimum
		Critical
		Low (4)
	
	
		5
		Risk Management Framework
		Legal; financial; reputational; business 
		Medium
		Major
		Medium (9)
	
	
		6
		Risk Management policy
		Legal; financial; reputational; business 
		Medium
		Major
		Medium (9)
	
	
		7
		Telephone policy
		Financial
		Minimum
		Significant
		Low (2)
	
	
		8
		Consequence Management policy
		

		

		

		

	
	
		9
		Corporate Business Continuity Plan
		

		

		

		

	
	
		10
		King IV
		Business
		Low
		Critical
		Medium (8)
	
	
		2
		Dispute Management Services
		11
		DRS Practice Manual
		Legal; financial; reputational; business 
		Medium
		Critical
		Medium (12)
	
	
		12
		Fee Policy for Panellists
		Financial; reputational; business 
		Low
		Major
		Low (6)
	
	
		3.
		Collective Bargaining Services
		13
		Committee Work Procedures
		Legal; financial; reputational; business 
		Medium
		Critical
		Medium (12)
	
	
		4.
		Human Resource
		14
		Human Resource policy
		Legal; financial; reputational; business 
		Low
		Major
		Low (6)
	
	
		15
		Occupational Health and Safety Policy
		Legal; financial; reputational; business 
		Medium
		Critical
		Medium (12)
	
	
		16
		Disciplinary policy and procedures
		Legal; financial; reputational; business 
		Low
		Critical
		Medium (8)
	
	
		17
		Recruitment and Selection policy
		Legal; financial; reputational; business 
		Low
		Critical
		Medium (8)
	
	
		18
		Performance Management System policy
		Legal; financial; reputational; business 
		Medium
		Critical
		Medium (12)
	
	
		19
		Leave Management policy
		Financial; business 
		Medium
		Significant
		Low (6)
	
	
		20
		Training and Development policy
		Financial; business 
		Medium
		Critical
		Medium (12)
	
	
		21
		Conditions of Services
		Legal; financial; reputational; business 
		Medium
		Critical
		Medium (12)
	
	
		22
		Payroll SOP
		Financial, business
		Low
		Critical
		Medium (8)
	
	
		23
		ELRC Code of Conduct and Ethics
		Legal; financial; reputational; business 
		Medium
		Critical
		Medium (12)
	
	
		5.
		Information Communication Technology
		24
		Information Technology Hardware and Software Policy
		Financial; business 
		Medium
		Major
		Medium (9)
	
	
		25
		Disaster Recover Plan policy
		Financial; business 
		High
		Critical
		High (16)
	
	
		26
		Business Continuity Plan policy
		Financial; business 
		High
		Critical
		High (16)
	
	
		27
		Incident Management and Procedure Manual
		Financial; business 
		Medium
		Critical
		Medium (12)
	
	
		28
		Patch Management policy
		Financial; business 
		Minimum
		Major
		Low (3)
	
	
		29
		IT Change Management policy
		Financial; business 
		Minimum
		Major
		Low (3)
	
	
		30
		User Access System policy
		Financial; business 
		Minimum
		Major
		Low (3)
	
	
		31
		ICT Systems Security
		Financial; business 
		Minimum
		Major
		Low (3)
	
	
		32
		IT Internet and Email policy and SOP
		Financial; business 
		Minimum
		Major
		Low (3)
	
	
		33
		IT Equipment Usage policy
		Financial; business 
		Low
		Major
		Low (6)
	
	
		34
		IT Governance Framework
		Financial; business 
		Medium
		Critical
		Medium (12)
	
	
		35
		ITIL
		Financial; business
		Medium
		Critical
		Medium (12)
	
	
		36
		COBIT
		Financial; business, reputational
		Medium
		Critical
		Medium (12)
	
	
		6.
		Media and Research
		37
		Communications policy
		Business
		Low
		Major
		Low (6)
	
	
		38
		PAIA manual
		Legal; financial; reputational; business 
		Minimum
		Major
		Low (3)
	
	
		39
		Records Management policy
		Legal; financial; reputational; business 
		Medium
		Critical
		Medium (12)
	
	
		7.
		Supply Chain Management
		40
		SCM policy
		Legal; financial; reputational; business 
		High
		Critical
		High (16)
	
	
		41
		Inventory Management SOP
		Financial; business 
		Low
		Significant
		Low (4)
	
	
		42
		Contract Management SOP
		Legal; financial; reputational; business 
		High
		Critical
		High (16)
	
	
		43
		SCM SOP
		Legal; financial; reputational; business 
		High
		Critical
		High (16)
	
	
		44
		Asset Management policy
		Financial; business 
		Low
		Critical
		Medium (8)
	
	
		45
		Asset Disposal SOP
		Financial; business 
		Low
		Critical
		Medium (8)
	
	
		46
		Policy on Unauthorised, Irregular, Fruitless and Wasteful Expenditure
		Legal; financial; reputational; business 
		Medium
		Critical
		Medium (12)
	
	
		8.
		Finance 
		47
		Finance Administration policy
		Financial, business, reputational
		High
		Critical
		High (16)
	
	
		48
		Petty Cash policy
		Financial, business
		Low
		Significant
		Low (4)
	
	
		49
		Materiality Framework
		Financial
		Low
		Major
		Low (6)
	
	
		50
		Travel and Subsistence Allowance Policy
		Financial, business
		Low
		Critical
		Medium (8)
	
	
		51
		Panellist Claims SOP
		Financial, business
		Low
		Critical
		Medium (8)
	
	
		52
		Revenue and Receivables SOP
		Financial, business
		Low
		Critical
		Medium (8)
	
	
		53
		Trade and Payables, and Expenses SOP
		Financial, business
		Low
		Critical
		Medium (8)
	
	
		54
		International Financial Reporting Standards (IFRS)
		Business
		Minimum
		Critical
		Low (4)
	
	
		9.
		Internal Audit
		55
		Internal Audit Charter
		Business
		Low
		Critical
		Medium (8)
	
	
		56
		Action Plan Management Policy
		Business
		Low
		Critical
		Medium (8)
	
	
		57
		Institute of Internal Auditors (IIA), International Profesional Practices Framework (Code of Ethics, Standards and the Defination of Internal Auditing).
		Business
		Low
		Critical
		Medium (8)
	
	
		58
		Combined Assurance Policy Framework
		Business
		Low
		Critical
		Medium (8)
	
	
		59
		Compliance Management policy
		Legal; financial; reputational; business 
		Medium
		Critical
		Medium (12)
	
	
		

		

		

		

		

		

		

		

	
	
		Compliance Related Risks
		

		

		

		

		

		

		

	
	
		□ Legal impact: Regulatory or legal action brought against the organization or its employees that could result in fines, penalties or imprisonment.
		

		

		

		

		

		

		

	
	
		□ Financial impact: Negative impacts with regard to the organization’s bottom line, and material loss. 
		

		

		

		

		

		

		

	
	
		□ Reputational impact: Damage to the organization’s reputation or brand—for example, bad press or social media discussion, loss of customer trust, 
		

		

		

		

		

		

		

	
	
		   or decreased employee morale.
		

		

		

		

		

		

		

	
	
		□ Business impact: Adverse events that could significantly disrupt the organization’s ability to operate.
		

		

		

		

		

		

		

	



Sheet 3: Risk Model

	
	
	
	
	
		Risk Model (How do we measure risk) - ELRC RM Framework
		

		

		

		

		

	
	
		Each risk is evaluated in terms of potential loss, likelihood of occurrence and the effectiveness of controls in place to manage the risks according to the criteria set down below
		

		

		

		

		

	
	
		

		

		

		

		

		

	
	
		Risk = Threat Likelihood x Magnitude of Impact
		

		

		

		

		

	
	
		

		

		

		

		

		

	
	
		Threat Likelihood
		

		

		

		

		

	
	
		

		

		

		

		

		

	
	
		Probability Factor
		Rating
		Measure Criteria
		Qualification Criteria
		

		

	
	
		Almost Certain
		5
		Certain to occur almost every time
		Almost certain to occur in the current circumstances
		

		

	
	
		High
		4
		Will occur frequently, 1 out of 10 times
		More than an even chance of occurring
		

		

	
	
		Medium
		3
		Will occur sometimes, 1 out of 100 times
		Could occur fairly often
		

		

	
	
		Low
		2
		Will seldom occur, 1 out of 1000 times
		Small likelihood but could happen
		

		

	
	
		Minimum
		1
		Will almost never occur, 1 out of 10 000 times
		Not expected to happen – event would be a surprise
		

		

	
	
		

		

		

		

		

		

	
	
		Potential Loss / Impact
		

		

		

		

		

	
	
		Magnitude impact is the potential loss to the business should the risk materialized, rated as follows:
		

		

		

		

		

	
	
		

		

		

		

		

		

	
	
		Severity Ranking
		Rating
		Continuity of Service Delivery
		Safety & Environment
		Technical Complexity
		Financial
	
	
		Catastrophic
		5
		Risk event will result in widespread and lengthy reduction in continuity of service delivery to customers of greater than 48 hours 
		Major environmental damage. Serious injury (permanent disability) or death of personnel or members of the public. Major negative media coverage
		Use of unproven technology for critical system / project components. High level of technical interdependencies between system components 
		Leads to termination of the project 
	
	
		Critical
		4
		Reduction in service delivery or disruption for a period ranging between 24 & 48 hours over a significant area 
		Significant injury of personnel or public. Significant environmental damage. Significant negative media coverage 
		Use of new technology not previously utilised by the organisation for critical systems / project components
		Cost increase > 20% 
	
	
		Major
		3
		Reduction in service delivery or disruption for a period between 8 & 47 hours over a regional area 
		Lower level environmental, safety or health impacts. Negative media coverage 
		Use of unproven or emerging technology for critical systems / project components 
		Cost increase > 10% 
	
	
		Significant
		2
		Brief local inconvenience (work around possible). Loss of an asset with minor impact on operations 
		Little environmental, safety or health impacts. Limited negative media coverage 
		Use of unproven or emerging technology for systems / project components 
		Cost increase < 10% 
	
	
		Negligible
		1
		No impact on business or core systems 
		No environmental, safety or health impacts and/or negative media coverage 
		Use of unproven or emerging technology for non-critical systems / project components 
		Minimal or no impact on cost 
	
	
		

		

		

		

		

		

	
	
		Effectiveness of Operating Controls
		

		

		

		

		

	
	
		

		

		

		

		

		

	
	
		Control Strength
		Control Rating
		Description
		Control Weight
		

		

	
	
		No control
		5
		Controls/ management activities not existing and/or major deficiencies and don’t operate as intended.
		1%
		

		

	
	
		Weak
		4
		Limited controls and/or management activities are in place.
		25%
		

		

	
	
		Satisfactory
		3
		Controls and/or management activities are in place with significant opportunities for improvement.
		50%
		

		

	
	
		Strong
		2
		Controls and/or management activities are properly designed and operating with limited opportunity of improvement.
		75%
		

		

	
	
		Very strong
		1
		Controls and/or management activities are properly designed and operating as intended.
		90%

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...Sheet universe regulatory the acts listed below are those identified in south african legislative that can be administered council list is by no means order of importance but rather alphabetical elrc act name category affected programme business unit structures administrative adjudication road traffic offences aarto secondary scm basic conditions employment bcea hr compensation for occupational injuries and diseases coida finance constitution republic africa all programmes equity eea educators core dms cbs further education training colleges income tax labour relations lra national policy health safety ohsa she committee pension funds prevention combating corrupt activities precca topical organised crime poca promotion access to information paia protection personal ppia public holidays skills development levies qualifications authority schools unemployment insurance fund children s bill rights sexual child care amended april criminal procedures policies compliance inherent risk level s...

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- The acts listed below are those acts identified in the South African legislative universe that can be administered in the Council.
- The list is by no means in order of importance but is rather in alphabetical order.

#.	ELRC Regulatory Universe
	Act Name	Category	Affected Programme / Business Unit/ Structures
1	Administrative Adjudication of Road Traffic Offences Act (AARTO)	Secondary	SCM
2	Basic Conditions of Employment Act (BCEA)	Secondary	HR
3	Compensation for Occupational Injuries and Diseases Act (COIDA)	Secondary	HR, Finance
4	Constitution of Republic of South Africa	Secondary	All Programmes / Structures
5	Employment Equity Act (EEA)	Secondary	HR
6	Employment of Educators Act	Core	DMS, CBS
7	Further Education and Training Colleges Act	Core	CBS
8	Income Tax Act	Secondary	Finance
9	Labour Relations Act (LRA)	Core	All Programmes / Structures
10	National Education Policy Act	Secondary	CBS
11	Occupational, Health and Safety Act (OHSA)	Secondary	SHE Committee
12	Pension Funds Act	Secondary	HR
13	Prevention and Combating of Corrupt Activities Act (PRECCA)	Topical	All Programmes / Structures
14	Prevention of Organised Crime Act (POCA)	Topical	All Programmes / Structures
15	Promotion of Access to Information Act (PAIA)	Topical	All Programmes / Structures
16	Protection of Personal Information Act (PPIA)	Secondary	All Programmes / Structures
17	Public Holidays Act	Topical	HR
18	Skills Development Levies Act	Secondary	HR
19	South African Council of Educators Act	Secondary	CBS
20	South African Qualifications Authority Act	Secondary	HR
21	South African Schools Act	Secondary	CBS
22	Unemployment Insurance Fund	Secondary	HR
23	Children's Bill of Rights of 2007	Core	DMS, CBS
24	Sexual Offences Act 32 of 2007	Core	DMS, CBS
25	Child Care Act 74 of 1983 amended 01 April 2010	Core	DMS, CBS
26	Criminal Procedures Act of 2008	Topical	DMS, CBS
27	Children's Act 38 of 2005	Core	DMS
28

ELRC Business Compliance Universe					Inherent Risk Level
#	Business Unit	#	Business Policies and SOPs	Compliance Related Risks	Likelihood	Impact	Indicator
1.	Executive Services	1	Fraud Prevention Plan	Financial	Low	Critical	Medium (8)
		2	Performance Information policy	Business	Medium	Critical	Medium (12)
		3	ELRC Constitution	Legal; financial; reputational; business	Low	Catastrophic	Medium (10)
		4	Policy on Delegations and Scheduling of Authorisation Levels	Financial and business	Minimum	Critical	Low (4)
		5	Risk Management Framework	Legal; financial; reputational; business	Medium	Major	Medium (9)
		6	Risk Management policy	Legal; financial; reputational; business	Medium	Major	Medium (9)
		7	Telephone policy	Financial	Minimum	Significant	Low (2)
		8	Consequence Management policy
		9	Corporate Business Continuity Plan
		10	King IV	Business	Low	Critical	Medium (8)
2	Dispute Management Services	11	DRS Practice Manual	Legal; financial; reputational; business	Medium	Critical	Medium (12)
2	Dispute Management Services	12	Fee Policy for Panellists	Financial; reputational; business	Low	Major	Low (6)
3.	Collective Bargaining Services	13	Committee Work Procedures	Legal; financial; reputational; business	Medium	Critical	Medium (12)
4.	Human Resource	14	Human Resource policy	Legal; financial; reputational; business	Low	Major	Low (6)
		15	Occupational Health and Safety Policy	Legal; financial; reputational; business	Medium	Critical	Medium (12)
		16	Disciplinary policy and procedures	Legal; financial; reputational; business	Low	Critical	Medium (8)
		17	Recruitment and Selection policy	Legal; financial; reputational; business	Low	Critical	Medium (8)
		18	Performance Management System policy	Legal; financial; reputational; business	Medium	Critical	Medium (12)
		19	Leave Management policy	Financial; business	Medium	Significant	Low (6)
		20	Training and Development policy	Financial; business	Medium	Critical	Medium (12)
		21	Conditions of Services	Legal; financial; reputational; business	Medium	Critical	Medium (12)
		22	Payroll SOP	Financial, business	Low	Critical	Medium (8)
		23	ELRC Code of Conduct and Ethics	Legal; financial; reputational; business	Medium	Critical	Medium (12)
5.	Information Communication Technology	24	Information Technology Hardware and Software Policy	Financial; business	Medium	Major	Medium (9)
		25	Disaster Recover Plan policy	Financial; business	High	Critical	High (16)
		26	Business Continuity Plan policy	Financial; business	High	Critical	High (16)
		27	Incident Management and Procedure Manual	Financial; business	Medium	Critical	Medium (12)
		28	Patch Management policy	Financial; business	Minimum	Major	Low (3)
		29	IT Change Management policy	Financial; business	Minimum	Major	Low (3)
		30	User Access System policy	Financial; business	Minimum	Major	Low (3)
		31	ICT Systems Security	Financial; business	Minimum	Major	Low (3)
		32	IT Internet and Email policy and SOP	Financial; business	Minimum	Major	Low (3)
		33	IT Equipment Usage policy	Financial; business	Low	Major	Low (6)
		34	IT Governance Framework	Financial; business	Medium	Critical	Medium (12)
		35	ITIL	Financial; business	Medium	Critical	Medium (12)
		36	COBIT	Financial; business, reputational	Medium	Critical	Medium (12)
6.	Media and Research	37	Communications policy	Business	Low	Major	Low (6)
		38	PAIA manual	Legal; financial; reputational; business	Minimum	Major	Low (3)
		39	Records Management policy	Legal; financial; reputational; business	Medium	Critical	Medium (12)
7.	Supply Chain Management	40	SCM policy	Legal; financial; reputational; business	High	Critical	High (16)
		41	Inventory Management SOP	Financial; business	Low	Significant	Low (4)
		42	Contract Management SOP	Legal; financial; reputational; business	High	Critical	High (16)
		43	SCM SOP	Legal; financial; reputational; business	High	Critical	High (16)
		44	Asset Management policy	Financial; business	Low	Critical	Medium (8)
		45	Asset Disposal SOP	Financial; business	Low	Critical	Medium (8)
		46	Policy on Unauthorised, Irregular, Fruitless and Wasteful Expenditure	Legal; financial; reputational; business	Medium	Critical	Medium (12)
8.	Finance	47	Finance Administration policy	Financial, business, reputational	High	Critical	High (16)
		48	Petty Cash policy	Financial, business	Low	Significant	Low (4)
		49	Materiality Framework	Financial	Low	Major	Low (6)
		50	Travel and Subsistence Allowance Policy	Financial, business	Low	Critical	Medium (8)
		51	Panellist Claims SOP	Financial, business	Low	Critical	Medium (8)
		52	Revenue and Receivables SOP	Financial, business	Low	Critical	Medium (8)
		53	Trade and Payables, and Expenses SOP	Financial, business	Low	Critical	Medium (8)
		54	International Financial Reporting Standards (IFRS)	Business	Minimum	Critical	Low (4)
9.	Internal Audit	55	Internal Audit Charter	Business	Low	Critical	Medium (8)
		56	Action Plan Management Policy	Business	Low	Critical	Medium (8)
		57	Institute of Internal Auditors (IIA), International Profesional Practices Framework (Code of Ethics, Standards and the Defination of Internal Auditing).	Business	Low	Critical	Medium (8)
		58	Combined Assurance Policy Framework	Business	Low	Critical	Medium (8)
		59	Compliance Management policy	Legal; financial; reputational; business	Medium	Critical	Medium (12)

*Compliance Related Risks*
□ Legal impact: Regulatory or legal action brought against the organization or its employees that could result in fines, penalties or imprisonment.
□ Financial impact: Negative impacts with regard to the organization’s bottom line, and material loss.
□ Reputational impact: Damage to the organization’s reputation or brand—for example, bad press or social media discussion, loss of customer trust,
or decreased employee morale.
□ Business impact: Adverse events that could significantly disrupt the organization’s ability to operate.

Risk Model (How do we measure risk) - ELRC RM Framework
Each risk is evaluated in terms of potential loss, likelihood of occurrence and the effectiveness of controls in place to manage the risks according to the criteria set down below

Risk = Threat Likelihood x Magnitude of Impact

Threat Likelihood

Probability Factor	Rating	Measure Criteria	Qualification Criteria
Almost Certain	5	Certain to occur almost every time	Almost certain to occur in the current circumstances
High	4	Will occur frequently, 1 out of 10 times	More than an even chance of occurring
Medium	3	Will occur sometimes, 1 out of 100 times	Could occur fairly often
Low	2	Will seldom occur, 1 out of 1000 times	Small likelihood but could happen
Minimum	1	Will almost never occur, 1 out of 10 000 times	Not expected to happen – event would be a surprise

Potential Loss / Impact
Magnitude impact is the potential loss to the business should the risk materialized, rated as follows:

Severity Ranking	Rating	Continuity of Service Delivery	Safety & Environment	Technical Complexity	Financial
Catastrophic	5	Risk event will result in widespread and lengthy reduction in continuity of service delivery to customers of greater than 48 hours	Major environmental damage. Serious injury (permanent disability) or death of personnel or members of the public. Major negative media coverage	Use of unproven technology for critical system / project components. High level of technical interdependencies between system components	Leads to termination of the project
Critical	4	Reduction in service delivery or disruption for a period ranging between 24 & 48 hours over a significant area	Significant injury of personnel or public. Significant environmental damage. Significant negative media coverage	Use of new technology not previously utilised by the organisation for critical systems / project components	Cost increase > 20%
Major	3	Reduction in service delivery or disruption for a period between 8 & 47 hours over a regional area	Lower level environmental, safety or health impacts. Negative media coverage	Use of unproven or emerging technology for critical systems / project components	Cost increase > 10%
Significant	2	Brief local inconvenience (work around possible). Loss of an asset with minor impact on operations	Little environmental, safety or health impacts. Limited negative media coverage	Use of unproven or emerging technology for systems / project components	Cost increase < 10%
Negligible	1	No impact on business or core systems	No environmental, safety or health impacts and/or negative media coverage	Use of unproven or emerging technology for non-critical systems / project components	Minimal or no impact on cost

Effectiveness of Operating Controls

Control Strength	Control Rating	Description	Control Weight
No control	5	Controls/ management activities not existing and/or major deficiencies and don’t operate as intended.	1%
Weak	4	Limited controls and/or management activities are in place.	25%
Satisfactory	3	Controls and/or management activities are in place with significant opportunities for improvement.	50%
Strong	2	Controls and/or management activities are properly designed and operating with limited opportunity of improvement.	75%
Very strong	1	Controls and/or management activities are properly designed and operating as intended.	90%

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