COSO PROCESS QUESTIONNAIRE - TV Worldwide



Instructions: For process area, answer each question based on your evaluation and interviews with process owners. Record process owner name and date evaluation completed. Determine a judgment for each question regarding overall effectiveness. At the end of the attribute section, determine an overall evaluation of the effectiveness of this COSO attribute.

Note: It is acceptable to have an effectiveness ranking on a particular question as non-effective – not critical and still maintain an overall effective ranking of the attribute. Non-effective – not critical would pertain to questions that may not have a significant or material impact on the overall operation of the process.

RISK ASSESSMENT EFFECTIVENESS EVALUATION: EFFECTIVE, NON-EFFECTIVE CRITICAL; NON-EFFECTIVE – NOT CRITICAL

|Question |Owner/ Date |Narrative Evaluation |Effectiveness |

| |Evaluated | | |

|Has the process owner established process | | | |

|objectives that are consistent with the overall| | | |

|objectives established by unit management? | | | |

|Do the process objectives provide clarity and | | | |

|sufficient granularity as to what the process | | | |

|is designed to achieve? | | | |

|Are the objectives consistent (and not in | | | |

|conflict) with the objectives of other | | | |

|processes? | | | |

|Has management been involved in setting the | | | |

|process objectives, particularly those that are| | | |

|critical to the success of the unit? | | | |

|Does the process owner have adequate resources | | | |

|to achieve the stated objectives? | | | |

|Does the process owner have an effective | | | |

|process to: | | | |

|Identify significant risks arising from | | | |

|external and internal sources to the | | | |

|achievement of key process objectives | | | |

|Assess the significance of the risks and | | | |

|likelihood of occurrence | | | |

|Evaluate alternative actions for reducing those| | | |

|risks to an acceptable level? | | | |

|Does the process owner continuously anticipate,| | | |

|identify and react to routine events and | | | |

|changing circumstances and conditions that | | | |

|could affect the achievement of process | | | |

|objectives? | | | |

|Are process activities dependent on the | | | |

|integrity and availability of information | | | |

|identified, captured, processed and reported? | | | |

|If so, has the process owner evaluated the | | | |

|risks related to the security, integrity and | | | |

|availability of that information? | | | |

OVERALL EVALUATION COSO RISK ASSESSMENT ATTRIBUTE

Efective Not Effective

CONTROL ENVIRONMENT

|Question |Process Owner/ Date |Narrative Evaluation |Effectiveness |

| |Evaluated | | |

|Does the process owner have an effective and | | | |

|understandable structure that: | | | |

|Effectively facilitates monitoring | | | |

|Enables the vertical and horizontal | | | |

|communication and information flows necessary | | | |

|to achieve process objectives? | | | |

|Are the process owner’s approaches for | | | |

|articulating and clarifying roles, | | | |

|responsibilities, authorities and | | | |

|accountabilities in accordance with the | | | |

|established policies of the entity or unit? | | | |

|Is there effective communication of appropriate| | | |

|policies, performance expectations and | | | |

|established accountability to each individual | | | |

|responsible for important process activities? | | | |

|Are the process owner’s policies and practices | | | |

|for recruiting and retaining competent people | | | |

|and developing competence clearly defined, in | | | |

|support of process objectives and in accordance| | | |

|with the established human resource policies of| | | |

|the entity or unit? | | | |

|Does the process owner maintain a positive | | | |

|operating style in terms of accepting risks, | | | |

|facilitating interaction among managers and | | | |

|employees, and demonstrating a supportive | | | |

|attitude toward financial reporting consistent | | | |

|with the tone set by senior management? | | | |

|Has the process owner documented and | | | |

|communicated policies and procedures regarding | | | |

|information technology managed by control | | | |

|owners and other employees in areas including | | | |

|the following: | | | |

|Control over access to sensitive and critical | | | |

|applications and data files supporting the | | | |

|process | | | |

|Authorization, documentation, testing and | | | |

|controlled implementation of new applications | | | |

|and application changes affecting the process | | | |

|Appropriate backup and recover procedures for | | | |

|all critical application program and data files| | | |

|supporting the process | | | |

OVERALL EVALUATION – COSO CONTROL ENVIRONMENT ATTRIBUTE

EFFECTIVE NOT EFFECTIVE

INFORMATION/COMMUNICATION

|Question |Process Owner/ Date |Narrative Evaluation |Effectiveness |

| |Evaluated | | |

|Is the process owner committed to the | | | |

|development of the necessary information | | | |

|systems to ensure all pertinent information is | | | |

|captured as close as possible to the source, | | | |

|accurately recorded and processed, and reported| | | |

|in a timely manner for analysis, evaluation and| | | |

|use in financial reporting? | | | |

|Is the process owner able to obtain adequate | | | |

|information from relevant external sources to | | | |

|assess the impact of environmental changes on | | | |

|the process, its performance and the | | | |

|information about that process? (E.g. Is there | | | |

|information about customer needs/wants, the | | | |

|competitive, technological and regulatory | | | |

|environments?) | | | |

|Does the process owner have access to | | | |

|information gathered by the organization on | | | |

|changing conditions and trends affecting the | | | |

|performance of the process? | | | |

|Does the process owner determine that relevant | | | |

|and timely information is provided to control | | | |

|owners and other process personnel in | | | |

|sufficient detail to enable them to effectively| | | |

|discharge their responsibilities? | | | |

|Does the process owner effectively: | | | |

|Communicate process objectives to control | | | |

|owners and other process personnel] | | | |

|Facilitate communication within the process and| | | |

|with personnel representing other entity and | | | |

|unit processes and functions | | | |

|Support a process for control owners and other | | | |

|processes personnel to communicate upward | | | |

|issues regarding process performance and | | | |

|control? | | | |

OVERALL EVALUATION – COSO INFORMATION/COMMUNICATION ATTRIBUTE

EFFECTIVE NOT EFFECTIVE

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