Posted By: Joe
Audit Rating - 03/19/07 06:13 AM
We are prposing the following audit rating methdology for our clients. Do you have any other suggestions. Thanks
Proposal for risk rating methodology:
Good: An audit reveals no high risks and 0, 1 or maximum 2 medium risks
Satisfactory: An audit reveals no high risk and between 1 and 8 medium risks
Marginally satisfactory: An audit reveals 1 high risk and 0 to 10 medium risks or an audit reveals 0 high risks but more than 10 medium risk
Unsatisfactory: An audit reveals 2 to 5 high risks and between 0- 25 medium risks
Unacceptable: An audit reveals more than 5 high risks and between 0 to 25 medium risk issues or an audit reveals more than 3 high risk issues and more than 25 medium risk issues.
Proposal for risk rating methodology:
Good: An audit reveals no high risks and 0, 1 or maximum 2 medium risks
Satisfactory: An audit reveals no high risk and between 1 and 8 medium risks
Marginally satisfactory: An audit reveals 1 high risk and 0 to 10 medium risks or an audit reveals 0 high risks but more than 10 medium risk
Unsatisfactory: An audit reveals 2 to 5 high risks and between 0- 25 medium risks
Unacceptable: An audit reveals more than 5 high risks and between 0 to 25 medium risk issues or an audit reveals more than 3 high risk issues and more than 25 medium risk issues.