Deficiency Management
The objective of Deficiency management is to analyze in detail the deficiencies identified during the testing process. A deficiency (= control inadequacy) exists if the design or execution of the control cannot guarantee attainment of process goals or compensation for process risks. Appropriate measures are then implemented to prevent recurrence and guarantee a functioning internal control system. The aim of Deficiency Management is to eliminate all deficiencies by the end of the fiscal year.
The deficiency managers L1 gain a precise overview of the deficiency and then submit their own assessment. This is done by completing the fields specifically released for this level. After documenting all required information, the deficiency manager for level 1 releases the deficiency for level 2 editing. After editing the relevant fields, the deficiency manager for level 2 releases the deficiency for the next and highest level 3 at which specific attributes are edited as well.