Telus Risk Assessment

TELUS Corporation: Risk Assessment and Control

September 5, 2010

Internal Controls Grading Template (2010)Team:Prepared by Chris Duff on: September 6, 2010 |

Criteria | Max score | Actual Score | Comments re expectations |

Presentation of report: appropriate structure, correct use of language, conciseness, and clarity | 30% | 25 | Generally good. |

Quality and completeness of content including:Adequate disclosure of facts of chosen CompanyDisplay of knowledge of internal control frameworks (COSO etc.) | 30% | 25 | You have included some annual report boilerplate-this detracts from the report-see inserted comments. You referenced the COSO framework and you have provided enough information on Telus to support the arguments presented. |

Critical Thinking displayed by framing and justifying arguments and conclusions | 20% | 16 | Generally quite well argued. |

Content is appropriately researched by reference to sources and supported by footnotes or endnotes; Research is adequate in terms of both quality and quantity; references can be retrieved in a timely manner | 20% | 17 | You had a total of 13 sources that included two from Telus. Your sources included COSO, a SOX text and a number of specialist IT publications. |

Total | 100% | 83 | |

Reasonable assurance. A daunting term when considering the level of security and protection provided for the physical and financial assets of a multi-million dollar company. However, this is what internal controls and good governance within organizations like the TELUS Corporation (TELUS) strive to achieve, reasonable assurance.

A recent University of California paper, Understanding Internal Controls, suggests, “An effective control system provides reasonable, but not absolute assurance for the safeguarding of assets, the reliability of financial information, and the compliance with laws and regulations.”

TELUS is a publicly traded company listed with the US based Securities and Exchange...