5.2 Action plan for the next fiscal year and subsequent years:

The action plan below highlights the progress that the CFIA will be making in completing the assessment of its key controls:

(in thousands of dollars)

Capital asset class	2011-12				2012-13				Future Years
	Documentation	Design Effectiveness	Operating Effectiveness	Recommendation & Action Plan	Documentation	Design Effectiveness	Operating Effectiveness	Recommendation & Action Plan	On-going Monitoring Program
Entity Level Controls
Values & Ethics									✓
Competency of Financial Staff									✓
Governance	✓	✓	✓	✓					✓
Risk Management	✓	✓	✓	✓					✓
Financial Management					✓	✓	✓	✓	✓
General IT Level Controls
Competency of Financial Staff	✓	✓					✓	✓	✓
Governance	✓	✓					✓	✓	✓
Risk Management	✓	✓					✓	✓	✓
Financial Management	✓	✓					✓	✓	✓
Business Process Level Controls
Revenue	✓	✓	✓	✓					✓
Pay		✓	✓	✓			✓	✓	✓
Operating and Maintenance (ongoing)			✓	✓			✓	✓	✓
Statutory Compensation Payments	✓	✓	✓	✓					✓
Capital Assets					✓	✓	✓	✓	✓
Financial Close & Reporting		✓	✓	✓					✓

1 – An on-going monitoring program will be established in fiscal year 2013-14 to identify the areas for continued or periodic observance, update and testing on a defined rotational basis consistent with the level of risk associated with the business process or IT system.