Day: March 21, 2022

A member of a professional body governing auditors/accounts is deemed to be guilty of professional misconduct if: The auditor allows a person not qualified to practice in his name as an auditor. In the course of the practice, the auditor Read More …

This can be defined by the standards as the culture, processes and structures that are directed towards potential opportunities whilst managing advanced consequences. Key variables that will foster success in Supply Chain vulnerability, continuity management and resilience include: Risk awareness Read More …

In large organizations, the role of risk management may fall within the scope of this committee led by senior executives or board members. The committee‘s role may include the following: 1. Consideration of risk management policy in respect of issues Read More …

Allocation of responsibilities for managing the risk. Identifying resources required to mitigate the risk. Develop action plans including resource budget and timescale. Obtain management approval for risk mitigation plan. Obtain shareholder acceptance and coordinated effort for the risk mitigation plan. Read More …

This is the formulation of a chosen approach/plan to deal with identified risks. Managers formulate strategies using risk management cycle and selecting the most appropriate risk mitigation options. The 4-Ts of risk 1. Tolerate – Accepting the risk. This is Read More …

Credit reports contain information about your payment history, loans, current debt, and other financial information. They show where your business address and if you’ve been sued or filed for bankruptcy. Credit reports help lenders decide whether or not to extend Read More …