Weaknesses exist that could impact the Department's financial statements, reputation and/or the Department's goals or objectives.
Weaknesses could impact the Department's efficiency and effectiveness of operations.
Risk to the Department is significant.
Monitoring and Mitigation Required
Weaknesses exist that could impact the entity's financial records, the entity's reputation, the entity's goals or objectives or the efficiency and effectiveness of the entity's operations.
Risk to the Department is medium.
Opportunities are identified that could enhance operations by improving efficiency, effectiveness or control.
Risk to the Department is low.
It should be noted that, in applying the above criteria to a recommendation, Internal Audit Branch takes into consideration the nature, scope, and significance of the audit finding(s), the impact of the recommendation on the organization, and the auditors' professional judgment.