ST1140
The Respondent commits to ensuring that the testing or audit function is accountable to the board, is independent of the audited activities and functions, and has sufficient standing, skills, resources, and authority within the organization.
Plain-language summary
What it actually means.
Plain-language summary forthcoming. Source text below.
Source text
As written.
The Respondent commits to ensuring that the testing or audit function is accountable to the board, is independent of the audited activities and functions, and has sufficient standing, skills, resources, and authority within the organization.
Assessed by HEXDI
What HEXDI assesses.
- M2
4 — PROGRAM SETUP AND ADMINISTRATION
Employees with key compliance responsibilities are located in a company unit that minimizes any potential conflicts of interest between the…
- M11
1 — AUDITS AND ASSESSMENTS
Program designates a qualified employee with requisite authority, training, and experience to coordinate and supervise program audits.
- M11
2 — AUDITS AND ASSESSMENTS
Program requires that only qualified personnel with requisite authority, training, and experience perform audits.
- M11
3 — AUDITS AND ASSESSMENTS
Program has a procedure for addressing actual and potential conflicts of interest between the auditor and the unit, functional level,…
- M11
4 — AUDITS AND ASSESSMENTS
Program has procedures for promptly communicating audit results to Board of Directors (or equivalent).
Related
Other DOT standards.
Source & revisions
- First mapped
- Jun 8, 2022
- Last updated
- Aug 11, 2026 (3d ago)
- Source
- OFAC Settlement Agreements