mirror of
https://github.com/Karaka-Management/Organization-Guide.git
synced 2026-01-11 04:48:42 +00:00
4.4 KiB
4.4 KiB
Finance Risk Control Matrix
| No. | R | Category | Risk Event | L | C | F | Cause | Mitigation Type | Mitigation Strategy | L* | C* | Changes | Comments | ES | EY | Evidences |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | CFO | Operational Risk (Finance) | The company doesn't have a budget as a basis for their operations. | 1 | 1 | The deadline for the budget finalization is defined with enough time until the new business year starts. | 1 | 1 | yes | yes | ||||||
| 2 | CFO | Operational Risk (Finance) | The budget is not approved/reviewed. | 1 | 1 | The budget must be approved by the management. | 1 | 1 | yes | yes | ||||||
| 3 | CFO | Operational Risk (Finance) | No approved budget. | 1 | 1 | Budget amendments are necessary. Budget didn't get finished on time. | The management can approve a intermediate budget until the final budget is created and approved. | 1 | 1 | yes | yes | |||||
| 4 | CFO | Operational Risk (Finance) | The responsibilities during the budgeting process are not defined. | 1 | 1 | The tasks and responsibilities are defined in a budget checklist. | 1 | 1 | yes | yes | ||||||
| 5 | CFO | Operational Risk (Finance) | The budget is not broken down on a monthly basis making it difficult to validate the performance. | 1 | 1 | The budget is split up on a single month basis. | 1 | 1 | yes | yes | ||||||
| 6 | CFO | Operational Risk (Finance) | Important information are missing. | 1 | 1 | Budget information are collected from different departments. | 1 | 1 | yes | yes | ||||||
| 7 | CFO | Operational Risk (Finance) | The monthly closing tasks are not well defined. | 1 | 1 | A monthly closing checklist exists defining the responsibilities. | 1 | 1 | yes | yes | ||||||
| 8 | CFO | Operational Risk (Finance) | The annual closing tasks are not well defined. | 1 | 1 | An annual closing checklist exists defining the responsibilities. | 1 | 1 | yes | yes | ||||||
| 9 | CFO | Operational Risk (Finance) | The annual financial audit tasks are not well defined. | 1 | 1 | An audit checklist exists defining the responsibilities. | 1 | 1 | yes | yes | ||||||
| 10 | CFO | Operational Risk (Finance) | The reporting tasks are not well defined. | 1 | 1 | A reporting checklist exists defining the responsibilities. | 1 | 1 | yes | yes |
Abbreviations
-
R: Responsible
-
L: Likelihood (1-5)
-
C: Consequence (1-5)
-
L*/C*: Likelihood and Consequence after mitigation
-
F: Frequency (many times a day, daily, weekly, monthly, annually)
-
ES: Effective
-
EY: Efficient
2022-01-01 - Version 1.0firefod