2010 -2011 ASQ HCD AUDIT COMMITTEE TASK GROUP (CTG) BUSINESS PLAN
October 25, 2010
ASQ HCD Audit CommitteeChair: Open (to be filled)
Co – Chairs (proposed change to one vice chair): Ms Siew Lee Cheng, Mr Mike Fitch, Mr John Harisson (Current)
Members: Open (to be filled for proposed 2 positions)
Audit Committee’s Guiding Principles
CTG Vision / The vision of the Audit Committee is to support ASQ HCD’s missions through the demonstration of corporate responsibilities in the financial and management practice of HCD.
CTG Mission / The mission of the Audit Committee is to provide comprehensive and objective reviews of the ASQ HCD’s activities, financial management, as well as establishing internal controls for identifiable risk areas of operations.
CTG Goal & Objectives
(For 2010 – 2011) / Goal: To ensure the appropriate level of independence and objectivity in the annual audit process.
Objectives:
The Audit Committee seeks to assist HCD management in:
1. ensuring that HCD has operated in a fiscally responsible manner and properly documented its transactions.
2. ensuring that adequate safeguards exist over HCD assets
3. ensuring adherence to ASQ policies and procedures
4. investigating wastes through audit process.
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2010 -2011 ASQ HCD AUDIT COMMITTEE TASK GROUP (CTG) BUSINESS PLAN
October 25, 2010
Detailed Action Plans for 2010 -2011 /What & Metrics / Who & Resource Required / When & Deliverable /
Recruit members for the open Audit Committee positions
Metric for success – Complete committee structure of 1 Chair, 1 Vice Chair, and 2 members by 1 Dec 2010 / Responsible: Siew Lee Cheng
Resource: Joe Fortuna / By 1 Dec 2010
Deliverable:
Audit Committee’s organizational chart
Complete SOP for the annual audit process
Metric for success – Detailed audit SOP with at least two key process measures that are aligned to ASQ’s strategic metrics. / Responsible: Co chairs
Resource: QMD & Finance / By 1 Feb 2011
Deliverable:
Approved audit’s SOP
Complete a proposed investment strategic plan for the next 3 years that is aligned with ASQ HCD’s short-term goals
Metric for success – A short-term 3 years investment plan of ASQ HCD / Responsible: TBD
Resource: TBD / By 1 March 2011
Deliverable:
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