1) Department, areas, and processes were determined by meeting with key management (column A & B). These meetings were documented and saved under the folder Process Meeting Memo 's located at L:Fraud and Security EnforcementInternal AuditRisk Assessment2017Process Meeting Memo 's.
2) Impact for Risk Assessment Survey Financial, Operational, Compliance, and Fraud (column D, E,G & H) is determined by using the corresponding impact questions (1-4) from a Risk Assessment Survey send to management in charge of the associated process. The Risk Assessment Surveys are saved under the folder Risk Assessment Survey located at L:Fraud and Security EnforcementInternal AuditRisk Assessment2017Risk Assessment Survey 's.
3) Strategic Impacts (column F) are determined through discussion with Senior Management, Management, and Internal Audit judgments. These meetings were documented and saved under the folder Process Meeting Memo 's located at L:Fraud and Security EnforcementInternal AuditRisk Assessment2017Process Meeting Memo 's. Additionally, process improvement projects of high strategic important to an area was discussed with the Commissioner and Chief of Staff 20 was added to these area. 10 added for areas of management concerns (15 for areas with multiple management concerns), 10 added for areas of major concern to Internal Audit using professional judgment, and/or 10 added for major process that are the core function of the organization.
4) Average Impact (column I) averages the
3.4 summarise the types of risks that may be involved in assessment in own area of responsibility.
G.G. Dess, G.T. Lumpkin, M.L. Taylor, A.A. Thompson, and A.J. Strickland III, Strategic Management (Boston, McGraw Hill, 2004) pp. 141-148.
After considering my above feelings and thoughts I realised that by being aware of the time I spent on the risk assessment, I was able to keep it as necessary and as concise as I had hoped for. Previously I have ran out of time completing the full assessment, meaning that the ending of the assessment is typically missed off. According to Westbrook et al (2007) five or ten minutes is required at the end of treatment to conclude and set up a homework task. Although at the time I was feeling anxious and nervous; attempting to keep track of the time allowed me to achieve the assessment in the time I had allocated myself.
3.4 Summarise the types of risks that may be involved in assessment in own area of responsibility
The use of pesticides is an important decision that thousands of communities face each year. Nobody likes dealing with mosquitos and the diseases they bring so using chemicals and pesticides is an option but with other consequences. Mosquitos carry West Nile Virus that affects the city of Genericville every year with 50 cases projected this year in the city and two fatalities as well. On the other hand, the chemicals proposed for controlling the mosquito population has its own risks. The pesticide Malathion is also dangerous to people if they come in contact with it before it degrades. The potential for citizens of the city being exposed is almost a certainty
During the planning phase of the audit, you met with Pinnacle’s management team and performed other planning activities. You encounter the following situations that you believe may be relevant to the audit:
The risk assessment tradition according to Walker is what is relied upon to make any predictions on future criminal behavior for an offender. He mentions the importance of what factors a risk assessment should include such as personality, substance abuse, and relationship with others (2015, p. 82-84). All of these factors in the risk assessment test can help make a prediction and allows decisions made by judges or the courtroom workgroup to be a bit more accurate according to what offenders score on assesssments. The individual’s criminal history alone should not be the only think a judge should look at when making a decision. The risk assessment is often used to determine things such as the sentencing, if they should be on probation or not
During the planning phase of the audit, you met with Pinnacle’s management team and performed other planning activities. You encounter the following situations that you believe may be relevant to the audit:
Each flowchart step is placed in the “Lane” for the group responsible for completing the task (Marketing, Sales, HR, etc.).
Social and behavioral factors also have significant impact on the older adult population and HIV. Older adults are less likely than younger adults to reveal their status. Older adults usually draw on cultural resources and values as well as spirituality to explain and cope with their HIV diagnosis and the associated stigma. They are more likely than their younger counterparts to feel less cheated by the disease and the threat of disabilities associated with the disease (Seigel & Schrimshaw, 2002). In contrast, research articles focused on the social-psychological experiences of older adults with HIV often report high rates of depression associated with decreased physical well-being and social support. Major depression rates were reported to
Carttar, P., 2014. Strategic Planning and Evaluation: Tools for Realizing Results. [Online] Available at: http://www.ssireview.org/blog/entry/strategic_planning_and_evaluation_tools_for_realizing_results [Accessed 14 November 2014].
develop a methodology for quantifying risks, or should each situation be addressed individually? Can we have both a quantitative and qualitative risk evaluation system in place at the same time?
Risk management is the term applied to a logical and systematic method of establishing the context, identifying, analyzing, evaluating, treating, monitoring and communicating risks associated with any activity, function or process in a way that will enable organizations to minimize losses and maximize opportunities. (Lecture notes)Risk Management is also described as 'all the things you need to do to make the future sufficiently certain'. (The NZ Society for Risk Management, 2001)
“First, it neglects the fact that those who benefit may not be the same as those who pay the costs.
A home assessment was completed on a private home that housed a family with five children ranging from the ages of 2 years to 15 years old. The risks in this household were minimal, but there were a few hazards relating to injuries from fall from height of more than five foot.