It Audit

An important decision for any shareholder is deciding whether or not to do business with that company. When a business is audited, the operations are reviewed to make sure that nothing is being hidden. An auditor will review the company’s financial statement and practices to confirm that each are direct and correct. The financial statements are the business’s way of representing them and showing that they are following the Generally Accepted Accounting Principles. The audit process is an important one because it provides a platform for the auditor’s opinion concerning the financial statements of the company. As part of the audit process the auditor will conduct an audit plan that outlines a number of actions that he or she will be perform while also detailing the reason for those actions. With every audit, the business’s management is in charge of handing over the financial statements that the auditor will review; while the auditor will review the statements for any material or immaterial misstatements.

Create a professional report detailing the information above as an initial draft of the risk

After the risk assessment tool was used to evaluate the risk to the organization, an appraisal of all potential risks were identified, for the initial part of the project through brainstorming. The following are risks that have been identified initially for this project:

As a Team Leader, you are responsible for encouraging team members to participate in continuous improvement activities. You also need to ensure that your team is informed of any changes or improvements to the way their work is done.

Potential key risks have been identified in the earlier sections of this project as this is task three of assessment number one. There are four risks that the board have particularly picked according to the level of risk and its likelihood that could affect the company. These risks include the following:

After we have conducted the risk analysis we will conduct a risk assessment to identify which risks

The meeting was as forum to brainstorm foreseeable project risks as well practical mitigation strategies. I conducted post analysis of this information, including risk categorization, and risk applicability to project stage. This information was compiled and entered into the Risk Register before being shared with all stakeholders.

For my Introduction to Communication class I was asked to do a self-audit assignment recording my technologies use for two days and then undergo a digital detox for 24 hours. Throughout the two days of technology use I mostly used my computer, smartphone, and the tablet. From my diary most of my time is spend on the computer. The use of my computer and cell phone has helped me communicate with my friends through social media, to be entertained, to help take away my boredom. There was a lot of time I use it for school purposes because I have to access my e-mail or go on Canvas to do school work. The day of digital detox I did some writing for my other class. I couldn’t use my computer to type out my assignment, which I wasn’t use to. After writing out my assignment I realize how messy my writing was and it was so

A predefined criteria should be established in order to control risks and for the continual assessment of risks. This will further aid in monitoring and reporting of the risks. Management should also stay in touch constantly in order to keep a keen eye on any abrupt changes and emerging risks.

Reduction to the impact of the risks outlined above, as well as other unidentified risks, depend on continuous monitoring by the marketing team. Therefore, it is essential to add the topic of risk as a line item discussion to the weekly team meetings with documented meeting minutes used in

a) What events or condition above may cause substantial doubt about the entity’s ability to continue as a going concern?

1) Risk Assessment: This component involves procedures geared towards detecting, communicating, and for warning recovery team members and stakeholders. The process of detection is straightforward for the most part, as it involves detecting IT disasters. The process of warning involves alerting key team members involved with recovery that a disaster has occurred, and for

Over the last several years, business continuity planning has become an essential tool that is used to help firms prepare for different contingencies and account for uncertainty. During this process, there is a focus on the effects it will have, in the form of a business impact analysis (BIA). To fully understand how this is influencing organizations requires carefully focusing on: the methods for establishing component priorities, determining reliance / dependencies and providing recommendations for the development of the plan. Together, these elements will highlight the most important aspects which should be taken into account.

This awareness allows everyone to prepare as much as possible so that any issues that do arise can be quickly mitigated (Das, Kar, & Parrila, 1996). Going forward, there are two important risks that are worthy of discussion at this time in order to ensure they are monitored and handled properly. These are:

As part of the risk management review, the company also engages in reviewing all Business Continuity Plans periodically in order to ensure that the business recovery process in case of an emergency is sound and effective.