| Item |
Weighted Mean |
Verbal Interpretation |
| A process is in place to collect information from external sources, such as industry, economic, and regulatory information, that could have an impact on the organization and/or the financial reporting process |
3.25 |
N |
| Milestones to achieve financial reporting objectives are monitored to ensure that timing deadlines are met |
3.35 |
N |
| Necessary operational and financial information is communicated to the right people in the organization on a timely basis and in a format that facilitates its use, including new or changed policies and procedures |
3.33 |
N |
| A process is in place to respond to new information needs in the organization on a timely basis |
3.29 |
N |
| There is a process in place to collect and document errors or complaints to analyze, determine cause, and eliminate a problem from recurring in future |
3.32 |
N |
| The organization considers both internal and external sources of data when identifying relevant information to use in the operation of internal control |
3.34 |
N |
| Communication exists between management and the board of directors so that both have information needed to fulfill their roles with respect to the organization’s objectives |
3.32 |
N |
| There is a process to quickly disseminate critical information throughout the organization when necessary |
3.47 |
A |
| Management has a communication process reinforcing to all employees their roles in ensuring that internal control responsibilities are taken seriously |
3.39 |
N |
| The organization has a process for employees, partners, suppliers to report suspected improprieties regarding fraud; errors in financial reporting, procurement, and contracting; improper use or disposition of equipment; and misrepresentation or false statements |
3.30 |
N |
| The organization has processes in place to communicate relevant and timely information to external parties |
3.31 |
N |
| The organization has processes in place to communicate the results of reports provided by the Independent Auditor or the Board of Directors |
3.33 |
N |
| Average Weighted Mean |
3.27 |
N |
