Summary
An overview of the 2024 audit findings regarding the WCI Asset Management Policy, highlighting governance challenges and necessary improvements.
WCI Asset Management Policy Audit Findings
Highlights
Governance and Control Challenges
The 2024 WCI Asset Management Policy faces significant hurdles in governance and control, with an internal audit identifying medium and low risks across 29 distinct control areas.
Key Risk Areas and Compliance
Major problem areas include fire safety, IT asset loss, and security vulnerabilities. The audit highlights inconsistent adherence to the policy and underscores that while accountability mechanisms exist, they are undermined by insufficient management reporting.
Required Actions
The report concludes that immediate and prompt corrective actions are necessary to address the identified weaknesses and ensure better compliance and oversight.