A risk assessment workshop was conducted to determine the significant risks that challenge the U. T. Division I Athletic Programs. The group members identified 14 high-risk areas. These high-risk areas were segregated into four main categories: institutional control, departmental management, student-athlete management, and third-party management. Each high-risk area was then examined to determine the specific risks that were "high" impact and either "high" or "medium" probability. These specific risks then became the basis for the development of monitoring plans.
In developing the monitoring plans, the group members decided on a specific matrix and defined the terminology used in the matrix. The group members approved the following definitions:
Operating Controls - Those procedures that are applied by operating staff to every event/transaction in a process at the time of its creation to ensure compliance with the policies and procedures governing the process. Examples include: policies and procedures; segregation of duties; or reconciliations/comparisons.
Supervisory Controls - Those procedures performed immediately thereafter by first line management on a sample of all events/transactions to determine that the operating controls have been applied as designed.
Oversight Controls - Those procedures applied by senior management soon after an event/transaction has occurred to ensure that supervisory and/or operating controls have been applied as designed. Examples include: status reports; exception reports; or budgeted versus actual comparison.
