Metric: % of material issues closed on time (audit, reviews, incidents)
E1 – Exists (Gateway Evidence)
Do defined governance roles, accountabilities, and issue management processes exist?
E2 – Enabled
Are issue owners supported with authority, tracking, and escalation mechanisms?
E3 – Executed
Are material issues reliably closed on time, with consequences for non-closure?
Evidence and notes for the Governance & Accountability Metric (% of material issues closed on time for audits, reviews, and incidents) support a structured maturity assessment across E1 (Exists), E2 (Enabled), and E3 (Executed).
E1 – Exists (Gateway Evidence)
Defined governance roles, accountabilities, and issue management processes are evidenced by documented frameworks like the three lines of defense model, role mappings, and policies for issue identification, escalation, and remediation.
Notes include charters for risk committees, RACI matrices for audits/reviews/incidents, and procedures outlining timelines for material issues (e.g., high-rated audit findings). Supporting artifacts: governance manuals, process flowcharts, and board-approved standards confirming existence.[2][4]
E2 – Enabled
Issue owners are supported via authority assignments (e.g., decision rights and BEAR-like regimes), tracking dashboards for open issues with aging metrics, and escalation workflows like automated notifications or tiered support.
Evidence comprises tools such as incident tracking systems, executive scorecards linking to remediation status, and training on accountability cascades.
Notes highlight resource allocation for compliance functions and remuneration incentives tied to timely closure to ensure enablement.[6][1]
E3 – Executed
Reliable on-time closure of material issues is demonstrated by KPIs like “% deviations/non-conformances closed on time,” “audit findings closure rate,” and low numbers of open/aged findings, with consequences for delays (e.g., inconsistent but applied non-remuneration actions).
Evidence includes reports on remediation timelines, root-cause analyses, and back-tested outcomes showing >80-90% closure rates for material audits/reviews/incidents.
Notes emphasize consistent enforcement via clawbacks/malus and board oversight of ageing metrics to drive accountability.[7][5]
Sources
[1] [pdf] Self-assessments of governance, accountability and culture | APRA https://www.apra.gov.au/sites/default/files/information_paper_self-assessment_of_governance_accountability_and_culture.pdf
[2] What is a governance framework? Guide and best practices – Diligent https://www.diligent.com/en-au/resources/blog/what-is-governance-framework
[3] ASIC’s governance and accountability https://www.asic.gov.au/about-asic/what-we-do/how-we-operate/asic-s-governance-and-accountability/
[4] Quality Metrics: Definition, Types, Examples, How to Implement and … https://simplerqms.com/quality-metrics/
[5] 11 Governance Metrics for Stronger Corporate Governance – LinkedIn https://www.linkedin.com/posts/smiit-cyberai_elevating-governance-kpis-key-metrics-activity-7379440010342662144-M6zo
[6] Mechanisms exist to identify responsibility and ownership https://www.well-architected-guide.com/well-architected-pillars/mechanisms-exist-to-identify-responsibility-and-ownership/
[7] Top 10 GRC Metrics and KPIs Every Compliance Leader Should Track https://www.salusgrc.com/blog/top-10-grc-metrics-and-kpis-every-compliance-leader-should-track/
[8] Accountability beyond measurement. The role of meetings in … https://www.sciencedirect.com/science/article/pii/S0743016721002904
[9] Pillar 2: Evidence and accountability | Evaluation Strategy 2024–2028 https://www.industry.gov.au/publications/evaluation-strategy-2024-2028/pillar-2-evidence-and-accountability
[10] Reporting Meaningful Performance Information https://www.anao.gov.au/work/insights/reporting-meaningful-performance-information
[11] APRA Information Paper: Self-assessments of governance … https://www.governanceinstitute.com.au/news_media/apra-information-paper-self-assessments-of-governance-accountability-and-culture/
[12] Closed Jobs in Time Phase without material Issued Complete https://www.epiusers.help/t/closed-jobs-in-time-phase-without-material-issued-complete/115137
[13] Worldwide Governance Indicators – World Bankwww.worldbank.org › publication › worldwide-governance-indicators https://www.worldbank.org/en/publication/worldwide-governance-indicators
[14] Escalation Management https://support.supportbench.net/article/escalation-management
[15] Building Strong SES Accountabilities for Data https://www.finance.gov.au/sites/default/files/2024-06/ses-accountabilities-for-data.pdf
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