Log every test and escalate findings by severity
Every test is written up in the Testing Log and every finding is classified Critical, High, Moderate, or Low. Critical findings go to the CEO and the sponsor bank immediately, High findings to the CEO within 5 business days, and the rest are tracked and reported quarterly. Workpapers are kept for seven years.
Event-driven
On every finding; Critical immediately, High within 5 business days
Record the finding in the Issues Log with severity and root cause, escalate on the severity clock, track remediation to closure, and retain the workpaper.
- Testing Log entry
Control, population, sample, results, severity
- Escalation record
Notice to the CEO or sponsor bank with date
Compliance Officer
Leela can watch for the trigger, keep the clock, and flag what is late.
Leela can start the escalation clock the moment a finding is classified and keep the workpaper on file.
Tell Leela about your company to see whether this applies.
Tell Leela how you handle it today, or hand it over: see what’s next.