Report on the Audit of the Monitoring of the System of Internal Control Over Financial Reporting

Appendix A – Audit Criteria

Line of Enquiry 1 – Governance Framework

Criterion 1.1 - An effective governance framework is in place to provide oversight over the monitoring of the ongoing effectiveness of the system of ICFR.

Line of Enquiry 2 – Identification of Key Accounts, Processes and Sub-Processes, Risks and Key Controls

Criterion 2.1 - An adequate and appropriate approach is applied in identifying key accounts of the financial statements for ICFR assessment.

Criterion 2.2 - An adequate and appropriate approach is applied in identifying processes and sub-processes, risks and controls for ICFR assessment.

Line of Enquiry 3 – Planning and Conducting Assessments

Criterion 3.1 - Sufficient and appropriate plans are developed to support assessment of the ongoing effectiveness of the system of ICFR.

Criterion 3.2 - Sufficient and appropriate activities are conducted to support assessment of the ongoing effectiveness of the system of ICFR.

Line of Enquiry 4 – Action Plans to Address Control Weaknesses

Criterion 4.1 - Appropriate action plans are developed and implemented to address identified control weaknesses.

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