Financial Corrective Action Log Template
The Financial Corrective Action Log Template keeps track of the CAR number, date, location, department, problem description, and more. The Department Manager should notify the Controller of the CAR’s assignment, target date, person responsible, and change in status and the Controller should update their copy of the AC1060-3 CORRECTIVE ACTION LOG accordingly.
To effectively gauge the effectiveness of some corrective actions, it may be necessary to allow a period of time (e.g., 1-2 weeks, months) for them to work, so their associated Corrective Action Requests may remain open for an indefinite period of time. The Controller should, therefore, review the Corrective Action Log and/or the Open Corrective Action file periodically (e.g., weekly) to verify the status of Corrective Actions.
When the Controller determines that the Corrective Action has been effective, he/she should update the Corrective Action’s status in AC1060-3 CORRECTIVE ACTION LOG.
Financial Corrective Action Log Template Details
Format: Microsoft Word 2013 (.docx)
Category: Internal Controls
Procedure: Financial Corrective Action Procedure AC1060
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