XYZ Institution

Individual risk dashboard

Quarter ended: 30 June 2010

Individual risk dashboard

Description of risk Underspending of the budget

Risk owner Chief Financial Officer

Key risk indicator
Background to risk Currently 50% of budget spent Actual quarterly spend as a % of budgeted quarterly spend

Will lead to future external under funding

History of under spending

% spend
Insignificant Minor Moderate Major Critical Actual spend as a % of budgeted quarterly spend
100
Impact X 90
80
Rare Unlikely Moderate Likely Common 70
60
Likelihood X 50
40
Minimum Low Medium High Maximum 30
X 20
Inherent risk exposure
10
0
Very good Good Satisfactory Weak Unsatisfactory Sep-07 Nov-07 Jan-08 Mar-08 May-08
Quarter
Control effectiveness X
Quarter No.
Minimum Low Medium High Maximum Sep-07 33 current info is an example - need
Residual risk exposure X Dec-07 67 actual info required from Risk
Mar-08 93 Owner
Current key controls Control owner Date of last assurance Jun-08 80

Monthly variance reporting Chief Financial Officer 31/03/2008

Cash flow projections Chief Financial Officer 31/03/2008
Monthly management meetings Chief Financial Officer 31/03/2008
Approved CAPEX and operational budgets Chief Financial Officer 31/03/2008
Implemented performance management system Chief Financial Officer 31/03/2008

Actions to improve controls Actions owner Timeline and status

Implement a follow up process for any under spending and report on the reasons for under spending Chief Financial Officer 01 September 2008

Links to
- Strategic objectives 1
- Risk Categories Financial stability

How to use:
1.) Copy the information of the identified risk, from the risk register, into the individual risk dashboard. This would entail completing all fields as indicated above.
2). Complete the date of last assurance and enure that it is aligned to the assuranc plan of the institution.
3.) Develop a specific key risk indicator to identify trends/movements of the indetified risk. This will ensure that suprises etc. are eliminated timeously. The key risk indicator should utilise the
same intervals as the risk reporting frequency of the institution.
4.) All fields must be updated on an ongoing basis as required by the risk reporting process of the institution.

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