Conditions - Annexure G

Information and Communication: Pertinent information must be selected and communicated in a manner and time frame that enables people to carry out theirresponsibilities. Information systems produce reports containing operational, financial, and compliance-related information to enable management to run and controlthe business. This component includes not only internally generated data, but also information regarding external events, activities, and conditions necessary forinformed decision-making and external reporting. Effective communication also must occur in a broader sense, flowing down, across, and up the organisation.Top management must clearly convey to all personnel that its control responsibilities must be taken seriously. Personnel must understand their role in the internalcontrol system, as well as how their individual activities relate to the work of others. Personnel must also have a means of communicating significant informationfurther up in the organisation, and there must be effective communication with external parties, such as customers, suppliers, regulators, and shareholders.Objective Key control activities AdministratorKey ControlsAuditProceduresFindings andexceptionsnotedExplanationformmanagementin respect ofexceptionsInformation andcommunication atadministrator (andmember level) whereapplicable17 Administrator has the system capabilityto produce accurate legislative and fundreporting requirements (e.g. financialaccounting, member benefit statements,financial statements etc)Policies and procedures are documentedto ensure appropriate and necessaryinformation is obtained from andprovided to the fund and theadministrator.Information is gathered from anddisseminated to the appropriate peopleon a timely basis.Administrator effectively communicatesfinancial reporting roles and17