Testing and Audit Sample Clauses

Testing and Audit i. Respondent commits to ensuring that the testing or audit function is accountable to senior management, is independent of the audited activities and functions, and has sufficient authority, skills, expertise, resources, and authority within the organization. ii. Respondent commits to ensuring that it employs testing or audit procedures appropriate to the level and sophistication of its sanctions compliance program and that this function, whether deployed internally or by an external party, reflects a comprehensive and objective assessment of Respondent’s OFAC- related risk assessment and internal controls. iii. Respondent commits to ensuring that, upon learning of a confirmed negative testing result or audit finding pertaining to its sanctions compliance program, it will take immediate and effective action, to the extent possible, to identify and implement compensating controls until the root cause of the weakness can be determined and remediated.

Testing and Audit. In order to further ensure effective processing of calls from TDD users to the City’s 9-1-1 services by 9-1-1 call-takers, the City agrees that starting within 30 days of the effective date of this Agreement, it will, on a quarterly basis, conduct test TDD calls on each shift to each manned call-taking position, as follows:

Testing and Audit. Offshore commits to ensuring that its testing or audit function is accountable to the 2H Offshore Board of Directors, is independent of the audited activities and functions, and has sufficient standing, skills, resources, and authority within the organization. Acteon commits to ensuring that the Acteon-level testing or audit function is accountable to Acteon’s Board of Directors.

Testing and Audit i) The Respondent commits to ensuring that the testing or audit function is accountable to the board, is independent of the audited activities and functions, and has sufficient standing, skills, resources, and authority within the organization. ii) Respondent commits to ensuring that it employs testing and audit procedures appropriate to the level and sophistication of its OFAC compliance program and that this function, whether deployed internally or by an external party, reflects a comprehensive and objective assessment of Respondent’s OFAC-related risks and internal controls. iii) Respondent commits to updating its risk assessment and reviewing its sanctions policies, procedures, and practices on a periodic basis in order to identify and correct any weaknesses or deficiencies. iv) Respondent commits to ensuring that, upon learning of a confirmed negative testing or audit result pertaining to its OFAC compliance program, it will take immediate and effective action to identify and implement compensating controls until the root cause of the weakness can be determined and remediated.

Testing and Audit a. Respondent commits to ensuring that the testing or audit function is accountable to senior management, is independent of the audited activities and functions, and has sufficient authority, skills, expertise, resources, and authority within the organization. b. Respondent commits to ensuring that it employs testing or audit procedures appropriate to the level and sophistication of its sanctions compliance program and that this function, whether deployed internally or by an external party, reflects a comprehensive and objective assessment of Respondent’s OFAC- related risk assessment and internal controls. c. Respondent commits to ensuring that, upon learning of a confirmed negative testing result or audit finding pertaining to its sanctions compliance program, it will take immediate and effective action, to the extent possible, to identify and implement compensating controls until the root cause of the weakness can be determined and remediated. d. Specifically with respect to the conduct outlined above, Respondent has implemented, or is subject to, the following controls and oversight: 1. Respondent is subject to an annual sanctions risk review directed by the Essentra plc Group Compliance Committee; 2. Essentra plc has a Group Assurance function, which consists of three full time employees, and periodically conducts (or instructs external auditors to conduct) reviews of the effectiveness of the Sanctions Compliance Program, including within Respondent’s operations. Such reviews include, but are not limited to, third-party due diligence procedures and regulatory/sanctions compliance; 3. Group Assurance is sponsored by and reports directly to the Audit and Risk Committee of Essentra plc. The Audit and Risk Committee itself meets periodically throughout the year to discuss any findings raised by Group Assurance; and 4. Group Assurance has also been subject to an effectiveness review by an external firm of auditors, with Essentra plc implementing numerous improvements to its policies and procedures based on the recommendations of the external auditors.