Audit and Risk Management Sample Clauses

Audit and Risk Management. GSOC has a risk management policy and process in place led by the Director of Administration who is the designated Risk Management Officer (RMO). The RMO is supported by a Risk Management Monitoring Group (RMMG) comprising heads of business units and other key personnel, which meets on a regular basis to review and, as required, update GSOC's risk register. Risk management is a standing agenda item at the Ombudsman Commission’s monthly meeting, with a monthly risk management report reviewed and specific risks discussed. The risk register is reviewed in full at least once annually by the Ombudsman Commission. Procedures to manage risk are in place throughout GSOC and are a standing agenda item at management, team, staff and project meetings. A summary of key risks identified and managed by GSOC will be provided to the Department routinely at each governance meeting. Details of key risks will be provided to Criminal Justice Governance (Performance & Compliance). The Department’s Internal Audit Unit (IAU) supports GSOC in monitoring and reviewing the effectiveness of its arrangements for internal governance, risk management and internal control. Audit work is agreed between the Head of Internal Audit and GSOC, with the IAU carrying out audits within an agreed timeframe. The Department’s Audit Committee provides further support in verifying that the interests of Government and other stakeholders are protected through appropriate internal controls and business/financial reporting.
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Audit and Risk Management. The internal audit function for the Authority is outsourced to an external service provider following a procurement process. The contract for this service is due to expire in January 2021. An Audit and Risk Committee, consisting of two members external to the Authority together with one Authority member, was established in July 2016 under an Audit and Risk Committee Charter, which requires that the Committee meet at least four times each year. The Committee provides independent advice to the Authority and the Accounting Officer regarding (inter alia) the suitability and robustness of the organisation’s internal control, internal audit, risk management and governance systems and procedures. The Authority has a comprehensive risk management policy in place. Its risk register is maintained by the Authority’s Chief Risk Officer and is updated on an ongoing basis to reflect new risks arising at all levels in the organisation and changes in controls to mitigate risks. The risk register is also reviewed by the Audit and Risk Committee each quarter, while the Authority reviews the full register at least once per annum. Risk management is a standing item on the Authority’s monthly meeting agenda, with a monthly risk management report reviewed and specific risks discussed. Risk, and associated mitigation measures, are addressed in the context of all significant Authority discussions and decisions. Procedures to manage risk are in place throughout the organisation and are a standing agenda item at management, team, staff and project meetings. A summary of key risks identified and managed by the Authority as part of its risk management system will be provided to the Department routinely and at least as part of each governance meeting.
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Audit and Risk Management. The internal audit function for the Authority is outsourced to an external service provider following a procurement process. An Audit and Risk Committee, consisting of two members external to the Authority together with one Authority member2, was established in July 2016 under an Audit and Risk Committee Charter, which requires that the Committee meet at least four times each year. The Committee provides independent advice to the Authority and the Accounting Officer regarding (inter alia) the suitability and robustness of the organisation’s internal control, internal audit, risk management and governance systems and procedures. The Authority has a comprehensive risk management policy in place. Its risk register is maintained by the Authority’s Chief Risk Officer and is updated on an ongoing basis to reflect new risks arising at all levels in the organisation and changes in controls to mitigate risks. The risk register is also reviewed by the Audit and Risk Committee each quarter, while the Authority reviews the full register at least once per annum. Risk management is a standing item on the Authority’s monthly meeting agenda, with a monthly risk management report reviewed and specific risks discussed. Risk, and associated mitigation measures, are addressed in the context of all significant Authority discussions and decisions. Procedures to manage risk are in place throughout the organisation and are a standing agenda item at management, team, staff and project meetings. A summary of key risks identified and managed by the Authority as part of its risk management system will be provided to the Department routinely and at least as part of each governance meeting.
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Audit and Risk Management 
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Related to Audit and Risk Management

  • Risk Management Except as required by applicable law or regulation, (i) implement or adopt any material change in its interest rate and other risk management policies, procedures or practices; (ii) fail to follow its existing policies or practices with respect to managing its exposure to interest rate and other risk; or (iii) fail to use commercially reasonable means to avoid any material increase in its aggregate exposure to interest rate risk.

  • Administration and Risk Management Employees of Federated Advisory Services Company provide support to portfolio managers and other employees of affiliated advisers. Such services may include development of risk management programs, production of portfolio and compliance reports for clients and/or fund Boards, coordination of client portfolios and related fixed income trade execution implementation and administration, completion of required broker and custody documentation, development and documentation of operational procedures, coordination of proxy voting activities, on-site support of hardware and software, etc.”

  • MANAGEMENT OF EVALUATION OUTCOMES 12.1 Where the Employer is, any time during the Employee’s employment, not satisfied with the Employee’s performance with respect to any matter dealt with in this Agreement, the Employer will give notice to the Employee to attend a meeting; 12.2 The Employee will have the opportunity at the meeting to satisfy the Employer of the measures being taken to ensure that his performance becomes satisfactory and any programme, including any dates, for implementing these measures; 12.3 Where there is a dispute or difference as to the performance of the Employee under this Agreement, the Parties will confer with a view to resolving the dispute or difference; and 12.4 In the case of unacceptable performance, the Employer shall – 12.4.1 Provide systematic remedial or developmental support to assist the Employee to improve his performance; and 12.4.2 After appropriate performance counselling and having provided the necessary guidance and/or support as well as reasonable time for improvement in performance, the Employer may consider steps to terminate the contract of employment of the Employee on grounds of unfitness or incapacity to carry out his or her duties.

  • Monitoring and Evaluation a. The AGENCY shall expeditiously provide to the COUNTY upon request, all data needed for the purpose of monitoring, evaluating and/or auditing the program(s). This data shall include, but not be limited to, clients served, services provided, outcomes achieved, information on materials and services delivered, and any other data required, in the sole discretion of the COUNTY, that may be required to adequately monitor and evaluate the services provided under this Contract. Monitoring shall be performed in accordance with COUNTY’S established Noncompliance Standards, a copy of which is attached hereto and incorporated by reference as Attachment “C”. b. The AGENCY agrees to permit persons duly authorized by the COUNTY to interview any clients and all current and/or former employees of the AGENCY to be assured of the AGENCY’S satisfactory performance of the terms of this Contract. c. Following such evaluation, monitoring, and/or audit, the COUNTY will deliver a report of its findings and recommendations with regard to the AGENCY’S conformance with this Contract’s terms and conditions to the AGENCY and/or Board of Directors’ President, and members, whenever applicable. If deficiencies are noted, a written notice of corrective action will be issued to the AGENCY which will specify deficiencies and provide a timeline for correction of those deficiencies. Within the designated timeframe in the written notice of corrective action, the AGENCY shall submit to the COUNTY’S CCC manager (“Manager”), or their designee, a corrective action plan to rectify all deficiencies identified by the COUNTY. d. Failure by the AGENCY to correct noted deficiencies, as outlined in the written notice of corrective action, may result in the AGENCY being deemed in breach of the Contract terms. e. The AGENCY shall cooperate with the COUNTY on all reviews to ensure compliance with all applicable COUNTY guidelines and requirements for general fund recipients.

  • Management and Control Systems Grantee will: 1. maintain an appropriate contract administration system to ensure that all terms, conditions, and specifications are met during the term of the contract through the completion of the closeout procedures. 2. develop, implement, and maintain financial management and control systems that meet or exceed the requirements of Uniform Statewide Accounting System (UGMS). Those requirements and procedures include, at a minimum, the following: i. Financial planning, including the development of budgets that adequately reflect all functions and resources necessary to carry out authorized activities and the adequate determination of costs; ii. Financial management systems that include accurate accounting records that are accessible and identify the source and application of funds provided under each Contract of this Contract, and original source documentation substantiating that costs are specifically and solely allocable to a Contract and its Contract and are traceable from the transaction to the general ledger; iii. Effective internal and budgetary controls; iv. Comparison of actual costs to budget; determination of reasonableness, allowableness, and allocability of costs; v. Timely and appropriate audits and resolution of any findings; vi. Billing and collection policies; and vii. Mechanism capable of billing and making reasonable efforts to collect from clients and third parties.

  • Management In accordance with Section 18-402 of the Act, management of the Company shall be vested in the Member. The Member shall have the power to do any and all acts necessary, convenient or incidental to or for the furtherance of the purposes described herein, including all powers, statutory or otherwise, possessed by members of a limited liability company under the laws of the State of Delaware. The Member has the authority to bind the Company.

  • Program Monitoring and Evaluation The Recipient shall prepare, or cause to be prepared, and furnish to the Association not later than six months after the Closing Date, a report of such scope and in such detail as the Association shall reasonably request, on the execution of the Program, the performance by the Recipient and the Association of their respective obligations under the Legal Agreements and the accomplishment of the purposes of the Financing.”

  • Financial Management System Subrecipient shall establish and maintain a sound financial management system, based upon generally accepted accounting principles. Contractor’s system shall provide fiscal control and accounting procedures that will include the following: i. Information pertaining to tuition rates, payments, and educational assistance payments; and

  • Patch Management All workstations, laptops and other systems that process and/or 20 store PHI COUNTY discloses to CONTRACTOR or CONTRACTOR creates, receives, maintains, or 21 transmits on behalf of COUNTY must have critical security patches applied, with system reboot if 22 necessary. There must be a documented patch management process which determines installation 23 timeframe based on risk assessment and vendor recommendations. At a maximum, all applicable 24 patches must be installed within thirty (30) calendar or business days of vendor release. Applications 25 and systems that cannot be patched due to operational reasons must have compensatory controls 26 implemented to minimize risk, where possible.

  • Network Management 60.1 CLEC and CenturyLink will exchange appropriate information (e.g., network information, maintenance contact numbers, escalation procedures, and information required to comply with requirements of law enforcement and national security agencies) for network management purposes. In addition, the Parties will apply sound network management principles to alleviate or to prevent traffic congestion and to minimize fraud associated with third number billed calls, calling card calls, and other services related to this Agreement. 60.2 The Parties will employ characteristics and methods of operation that will not interfere with or impair the Parties’ networks, or the network of any third parties or Affiliated companies, connected with or involved directly in the network or facilities of CenturyLink. 60.3 CLEC shall not interfere with or impair service over any circuits, facilities or equipment of CenturyLink, its Affiliated companies, or its connecting and concurring carriers. 60.4 If CLEC causes any impairment or interference, CenturyLink shall promptly notify CLEC of the nature and location of the problem and that, unless promptly rectified, a temporary discontinuance of the use of any circuit, facility or equipment may be required. The Parties agree to work together to attempt to promptly resolve the impairment or interference. If CLEC is unable to promptly remedy, then CenturyLink may, at its option, temporarily discontinue the use of the affected circuit, facility or equipment until the impairment is remedied. 60.5 Any violation of Applicable Law or regulation regarding the invasion of privacy of any communications carried over CenturyLink’s facilities, or that creates hazards to the employees of CenturyLink or to the public, is also considered an impairment of service. 60.6 CenturyLink shall give advanced notice to CLEC of all non-scheduled maintenance or other planned network activities to be performed by CenturyLink on any Network Element, including any hardware, equipment, software, or system, providing service functionality of which CLEC has advised CenturyLink may potentially impact CLEC End Users. 60.7 The Parties shall provide notice of network changes and upgrades in accordance with 47 C.F.R. §§51.325 through 51.335. CenturyLink may discontinue any Interconnection arrangement, Telecommunications Service, or Network Element provided or required hereunder due to network changes or upgrades after providing CLEC notice as required by this Section. CenturyLink agrees to cooperate with CLEC and/or the appropriate regulatory body in any transition resulting from such discontinuation of service and to minimize the impact to customers which may result from such discontinuance of service.

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