Significant and or non recurring transactions that may require separate and or specialized accounting recognition, reporting, and disclosure.

Internal Controls

Controls Matrix

	Risk	Control Objective	Control Activity	Key Control?	Test Plan
	New guidance may not be completely, accurately, or efficiently applied as there is inadequate planning	Application of new accounting guidance occurs proactively, is scheduled, well planned, and all those involved in the process are identified, trained and sufficiently advised as to what their roles. responsibilities, and deliverables are FR-501.4	Prepare Schedule, Timeline, and Instructions The Controller will prepare a schedule, timeline, and specific instructions for the accounting staff responsible for the initial and ongoing accounting for the specific events or transactions and will incorporate such required accounting and disclosures into quarterly and year end 10 Q & K filings preparation planning, as well as ensure that the MD & A accurately and completely discloses and describes such significant events. (FR-501.4)	Yes	Review new accounting implementations, guidance, etc. for directives on implementation, scheduling, etc.
	Transactions involving individuals or parties that are related by definition are not identified or reported	To ensure that related party transactions are properly identified, reviewed, and assessed for disclosure purposes FR-501.5	Identify Possible Disclosure Purposes The Controller from her vantage point as chief accounting officer and Corporate Secretary, has knowledge of who significant shareholders are and those considered to be affiliates, and in the course of review of significant events, transactions, proposed transactions, can identify for possible disclosure purposes those individuals or firms that would be considered as related parties. (FR-501.5)	Yes	Review work done to identify related parties.
	Transactions with accounting or disclosure issues may not re recognized because they have been overlooked by an accounting expert	Normal and routine contracts, agreements, purchase agreements, sales agreements, minutes, etc. may reflect transactions that have accounting recognition and disclosure issues associated with them. Such matters should be reviewed and considered to ensure that accounting is complete, and all disclosures are made FR-501.2	Accounting Regulation The Treasurer, Controller, Director of Accounting and Assistant Controller receive for their review and determination of any accounting recognition, reporting, and disclosure issues for all commercial contracts, labor agreements, leases, material purchase and sale agreements, benefit plan amendments, employment contracts, severance agreements, any debt agreement, i.e. mortgages, indentures, covenants, etc., committee meeting minutes, that are being sent to the Company’s Central Files. This procedural control provides a final opportunity to detect transactions that were previously unknown to them, or may not have been fully completed at the time of earlier intervention, for accounting and disclosure purposes. (FR-501.2)	Yes	Select major agreements that have occurred during the year and review for controller Department review.
	Accounting recommendations could be implemented without approval, management may not be aware of the event or the accounting solution, and facts not known to the Controller could alter the recommendation	Recommendations on accounting solutions for transactions that have received the attention of the Controller, are reviewed by the CFO FR-501.3	Review and Approve Recognition Plan The Treasurer and CFO will review and consider the recommendation, and approve a final plan for the recognition, reporting, and disclosure of such events. The management executive and Board audit committees will be apprised of such transactions and their impact on the Company. (FR-501.3)	Yes	Review new accounting implementations, guidance, etc. for CFO review.