assets Routine maintenance protects your Volume 9, 4 April 28, 2017 – Highlights and take action. And by being risk assessment plans for certification. proactive, you’re likely to avoid Familiarize yourself with common changes Devote time to review and update issues like high repair costs or that may require updates by using the completed risk property damage. questionnaire. Awareness of potential changes assessment can prompt preventative actions and stronger projects You can apply the same logic to plans to mitigate future risks. Anticipate and mitigate risk when reviewing or plan for internal updating internal controls in an agency. If you have questions, please contact Jake and external change to You identify processes key to the Rossow at 651-259-3828. minimize agency agency mission. You prepare a risk risk assessment plan to include those Be aware of the processes, gather your tools, and common ongoing change indicators perform designated risk assessments. With key processes to support the Use change agency mission identified and risk indicators questionnaire to assessments complete, periodic updates determine if keep internal control infrastructure changes affect risk assessment functioning effectively. To update your planning risk assessment plan you will need to identify, analyze, and respond to As warm weather ongoing internal and external change. nears and winter becomes a distant memory, spring Internal and external influences, such as cleaning is a priority management turnover or regulatory for many. We wash changes can unexpected internal windows, de-clutter control gaps. These changes can closets, and scrub introduce new risks and make existing carpets clean from controls ineffective or obsolete. It is winter debris. These important to reassess completed risk actions may seem assessments to help ensure like simple cleaning, documentation of risks and controls are but they help up to date. When you complete you prevent future annual review and reassessment refer to problems around the The procedure defines objectives, your home. steps to take, and forms you can use to Spring is a great assist in your risk assessments projects. Annual time to identify and Suggested Action Steps: internal control review and certification prioritize home efforts are underway for executive maintenance branch agencies. Consider using the projects. You prepare a plan, found on the Internal Controls and Accountability website as you review gather your tools,
Routine maintenance protects your assets Volume 9, 4 – April 28, 2017 Highlights Devote time to review and update completed risk assessment projects Anticipate and plan for internal and external change to minimize agency risk Be aware of the common ongoing change indicators Use change indicators questionnaire to determine if changes affect risk assessment planning As warm weather nears and winter becomes a distant memory, spring cleaning is a priority for many. We wash windows, de-clutter closets, and scrub carpets clean from winter debris. These actions may seem like simple cleaning, but they help prevent future problems around your home. Spring is a great time to identify and prioritize home maintenance projects. You prepare a plan, gather your tools, and take action. And by being proactive, you’re likely to avoid issues like high repair costs or property damage. You can apply the same logic to mitigate risk when reviewing or updating internal controls in an agency. You identify processes key to the agency mission. You prepare a risk assessment plan to include those processes, gather your tools, and perform designated risk assessments. With key processes to support the agency mission identified and risk assessments complete, periodic updates keep internal control infrastructure functioning effectively. To update your risk assessment plan you will need to identify, analyze, and respond to ongoing internal and external change. Internal and external influences, such as management turnover or regulatory changes can unexpected internal control gaps. These changes can introduce new risks and make existing controls ineffective or obsolete. It is important to reassess completed risk assessments to help ensure documentation of risks and controls are up to date. When you complete you annual review and reassessment refer to the The procedure defines objectives, steps to take, and forms you can use to assist in your risk assessments projects. Suggested Action Steps: Annual internal control review and certification efforts are underway for executive branch agencies. Consider using the found on the Internal Controls and Accountability website as you review risk assessment plans for certification. Familiarize yourself with common changes that may require updates by using the questionnaire. Awareness of potential changes can prompt preventative actions and stronger plans to mitigate future risks. If you have questions, please contact Jake Rossow at 651-259-3828.
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