An internal compliance audit was conducted of COSADC's 2017 contract activity and findings were reported. The audit reviewed contracts, reports, receipts and payments for all current and prior year projects. While most were found to be compliant, one contract with Mrs. Rios Corn products was examined more closely. The contract specified 30 full time employees but the original agreement intended 30 full time equivalents, and the company averaged 31 FTE for the year. The audit ultimately found no issues of non-compliance.
WIPO magazine issue -1 - 2024 World Intellectual Property organization.
COSADC Compliance Audit Summary
1. To: Rick Weise
From: Brandon Sanders, Internal Auditor
Date: December 11, 2018
Subject: COSADC Compliance Audit
A compliance audit was conducted for COSADC’s contract activity for 2017. This included all
current and prior year contracts for the period.
The attached summary concludes the findings. For each of the Projects listed the contract,
reports, receipts, and payments were reviewed.
Although one was looked into further to ensure compliance. The contract was with Mrs. Rios
Corn products, where the contract stated that they were to maintain 30 Full Time Employee’s.
But when reviewing the original presentation, the agreement was intended for 30 Full Time
Equivalent and not for full time employees. The company did average 31 Full Time Equivalent
employees for the year.
The audit concluded there were no other findings noted.
MEMORANDUM
