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For Information Only

Performance Audit of Risk Management Processes



Presented To: Audit Committee
Presented: Tuesday, Jun 20, 2017
Report Date: Friday, Jun 02, 2017
Type: Correspondence for Information Only



Signed By

Auditor General
Ron Foster
Auditor General
Digitally Signed Jun 2, 17

Resolution

For Information Only

Relationship to the Strategic Plan / Health Impact Assessment

This report relates to the priority of "Responsive, Fiscally Prudent, Open Governance" as outlined in 2015-2018 Corporate Strategic Plan.

Report Summary

Issue: Risks faced by the City of Greater Sudbury may not be managed systematically.

Rule: Risks should be formalized and in accordance with a defined policy and process.

Analysis: An audit of risk management processes identified different approaches to manage risks within the City.

Conclusion: A formal risk management policy be developed in conjunction with an Enterprise Risk Management(ERM) process.

Financial Implications

The recommendations in this report have financial implications.