Environmental Auditing Assignment 3

The safety aspect for risk management will evaluate the potential for human loss of life and or injury. The potential for major incident or accident, such as fire, explosion, or spill, including environmental damage. The necessity for security within the company is a highly need aspect of safety that can lead to risk. The revenues aspect for risk management will evaluate the loss of customer base, recovering of capital loss and recognizing uncoverable capital loss, and loss of opportunity in marketing of the product. The necessity for revenue risk management is key. The costs aspect for risk management will evaluate the costs that were incurred due to preventable problems. Also, costs due to increased warehouse space, vendor changes, and discount changes. A significant risk in cost for this company is the cost of legal defense. The legal aspect for risk management will evaluate regulatory compliance failures and actions that could result

Assess the potential environmental impact of a proposed construction project on the local natural environment.

For the case study provided with this Assessment Task, you are required to review risk management processes and determine scope and objectives, taking into account stakeholder input and both internal and external environmental factors affecting the organisation. With the information gathered, you are

3.4 Summarise the types of risks that may be involved in assessment in own area of responsibility

The environmental protection agency has been stepping up its mandate of ensuring safer and better environment for not only the business operators, buts also the society as a whole. In order to achieve this goal of environmental protection, there has been the creation of environmental protection agency that has ensured that all the businesses, irrespective of their size and type, strive to ensure that the environment is protected for the benefit of current and future generations.

In today’s business environment it is important for all organizations to develop and maintain a plan to avoid regulatory risks. Management should be able to manage any risks through preventive, detective, and corrective measures. As a manager it is important to prevent extensive loss, environmental and commercial, preserve the companies’ public image and abide by pertinent environmental statues. Ensuring the company follows an extensive plan will help to eliminate any risks, by outlining steps that should be taken to resolve these

When performing risk assessment procedures and related activities to obtain an understanding of the client and its environment, the auditor shall obtain an understanding of the following:

3.4 Summarise the types of risks that may be involved in assessment in own area of responsibility

The auditor must obtain a sufficient understanding of the entity and its environment, including its internal control, to assess the risk of material misstatement of the FS whether due to error or fraud and to

3 Explain how risk assessment can help address dilemmas between rights and health and safety concerns

Quality Auditing is a management tool to systematically determine compliance to requirements. Poorly executed audits provide incomplete or inaccurate information upon which to base future decisions. The ISO 9000 and MBNQA standards and criteria are the two most frequently used audit standards in the United States.

Another important point is the regulatory environment Wesfarmers involved, which can have direct economic consequences and affect its accounting and disclosure requirements (Leung, 2007). The relevant auditing standards can refer to ASA 250. In this case, Wesfarmers has just take

To assure the success of a business over a long period of time the business must be able to conduct regular analysis of their success. They must be able to determine where they are today and have a goal of where they would like to see themselves 5-10 years down the road. In order to conduct a true analysis of the company, one must complete an environmental scan of their organization. Thus scanning for events, trends, issues and expectations that they may be faced with in the future. Furthermore, examining all internal and external environment challenges. Internal environmental challenges may be with employees, shareholders or board of directors or the overall culture of the organization. External environmental

It helps an organization accomplish its objectives by bringing a systematic disciplined approach to evaluate and improve the effectiveness of risk management control, and governance processes.

on would be shifting to renewable energy production to limit CO2 and other polluting emissions,