University of Kentucky Internal Audit
UKIA MISSION STATEMENT
To support UK in its pursuit of excellence by providing advisory and assurance guidance to champion reasonable assurance regarding the achievement of management objectives.
December Tip of the Month
The "Tip of the Month" is designed to share UK Internal Audit’s (UKIA) audit and advisory experiences with the UK community. The UKIA Tip of the Month for December 2014 is Business Continuity Planning (BCP).
An effective BCP consists of an extensive activity list to include identifying key functions, managing critical applications, establishing alternate worksites and maintaining communications. A unit/department should identify events, both internal and external that may adversely impact the business and consider appropriate counter-measures. Unfortunately all businesses (units/departments) are vulnerable to and could suffer from some type of adverse event. Whether it's a fire, sabotage or other unforeseen situation, an appropriate response plan is worth its weight in gold.
The initial step in developing a BCP is an activity assessment which assists with understanding fundamental business needs. An effective BCP will assist in allowing the business to continue operations, if planned correctly. UKIA has a documented BCP; admittedly, we have not recently updated our plan. This month's tip will prompt UKIA to make a New Year's Resolution to update our plan. Important elements (tips) to be aware of and consequently plan for, when creating your BCP can be listed as "U-SKIP" (don't U-SKIP your BCP). UKIA has five tips to assist units/departments with managing the activities associated with BCPs.