In the context of your organization, evaluate its main sources of potential financial risk using suitable techniques.  For each risk area you are required to recommend and justify appropriate action to reduce the exposure.

Q: Explain how decisions about when and how much substantive testing is performed relate to the overall…

A: The substantive testing is a method used by the audit staff to gather evidence about the…

Q: With the aid of appropriate diagram, explain the three main categories of attitude towards risk and…

A: Categories are as represented below: a. Risk Seeker b. Risk-Averse c.  Risk Neutral

Q: Calculate planning materially in a dollar ($) amount. You must include a breakdown of your…

A: Control risk seems to be the possibility of a major misrepresentation in a firm's financial…

Q: evaluate the main sources of potential financial risk using suitable techniques.  For each risk area…

A: The question is based on the concept of financial risk and different sources of such risk .

Q: In mitigating risks, discuss some of the important issues that must be addressed in developing a…

A: The purpose developing the reliable financial standard is needed for the company to making the…

Q: Which of the following is an element of the Oa. Risk assessment plans Ob. Managements' operating…

A: The right answer is b Management's operating styles

Q: In performing risk assessment procedures for investments, an auditor may inquire of the client…

A: Risk assessment procedures for investments which are carried out by the auditor are followed and…

Q: Discuss some of the techniques available to reduce risk exposures.

A: Risk exposure is the estimated potential loss from ongoing or upcoming business operations. The…

Q: _______________________involves the steps taken by management to increase the likelihood that the…

A: Controlling: Controlling foresees that the organization operates in the planned manner and attains…

Q: Describe the effects of risk planning on risk evaluation and treatment.

A: Risks Planning plans help a business to determine what their risks are so that one can lessen their…

Q: What is takaful and how it can be used as a risk mitigation tool and write down the names of types…

A: Takaful may be a style of monotheism insurance whereby members contribute cash into a pool system to…

Q: Explain the equation HxP=R Name each component      What is the significance of each component? How…

A: Since more three sub parts are posted at a time, the answer for first three sub-parts is only…

Q: Risk managers work with other departments to identify pure and speculative loss exposures. Please…

A: Risk management: Risk management involves the process  of - i) Identifying the risk ii) Assessing…

Q: definition of political risk and how mitigate it?

A: Political risk are risk arising due to political parties of countries with change in government…

Q: Distinguish between the "risk driven" and "procedures driven" approaches to auditing, evaluating the…

A: Auditing is described as a process in which the audit team or the individual auditor examines the…

Q: Discuss and explain the sub-processes of risk management

A: Risk management refers to those processes and steps which a finance manager undertakes to reduce the…

Q: Discuss using practical example how risk management objectives fascilitates an insurer’s role as a…

A: Risk management refers to identifying, analyzing, and reducing the risk by applying different…

Q: Briefly define and give examples of each of the following components of total risk. Which type of…

A: Risk refers to the variability of returns. It is the possibility or the likelihood that the actual…

Q: With the aid of appropriate diagram, explain the three main categories of attitude towards risk and…

A: The three main types of risks are a) risk averse b) risk neutral c) risk seeking   All the three…

Q: what is return. Define risk and explain how it is assessed

A: Definition

Q: With the aid of an appropriate diagram, explain 3 main categories of attitude towards risk and…

A: The three types of risk which the investors are categorized are as follows: Risk Seeker – An…

Q: Describe some of the risks events within the following major categories of risk: (1) strategy…

A: Risk events are the uncertain and unfortunate events that take place inside an organization due to…

Q: Explain the specific relationship between risk and reward and why this relationship must be true.

A: Risk refers to probability for loss of investment value by an investor whereas Reward refers to…

Q: Identify, which of the following will be included in different types of review engagements A. Risk…

A: The different types of review engagement reports are::: Risk assessment reports Review of internal…

Q: risk remaining after management’s actions is

A: Option A is wrong because inherent risk is the risk of fraud or error which may exist even if the…

Q: A system development project is nearing project closing when a previously unidentified risk is…

A: A system development project is a project which has the purpose of upgrading the system and…

Q: Provide a comprehensive definition of risk

A: Risk is described in financial terms as the probability that the actual gains of an event or…

Q: oncepts of “Relevance” and “Representational Faithfulness”

A: SOLUTION:- Relevance means the potential of information or facts to make a distinction in decision.…

Q: hat are the primary tasks and Education, Training, & Certification, the primary industries of a risk…

A: Risk management is a broadly applicable business concept that is widely recognized as vital to an…

Q: How to minimize or eliminate risk using diversification or other means.

A: Diversification is a process investment in multiple assets with the available amount.

Q: Evaluate the failure of intermediaries to rectify the behaviour to reduce the effects of the crisis…

A: Financial intermediaries refer to the procedure that channels funds for the third parties who are…

Q: "Risk management is essentially about looking at your project goals and finding out what the dangers…

A: Project risk management is the process of identifying, analysing, and responding to any risk that…

Q: Describe some regulatory actions that have influenced theevolution of risk management.

A: Regulatory Actions are the actions that are substantive, i.e. required to meet the expectations.…

Q: Develop plans to mitigate the risk. A detailed strategy for minimizing the impact of the risk could…

A: In the process of undertaking new projects, risk is ever present. A risk is an uncertain event that,…

Q: Risk management practice has seen significant development in recent time’. Provide a critical…

A: The whole process of risk management includes assessing the risk levels and extent in line with the…

Q: Discuss and critically compare sensitivity analysis and scenario analysis as means of  estimating a…

A: In capital budgeting we look at different projects and determine their financial viability and then…

Q: WHAT ARE THE SIGNIFICANT RISK YOU SHOULD CONSIDER UPON AUDITING CURRENT LIABILITIES AND HOW WOULD IT…

A: Current liabilities refers to the liabilities which will be  due and payable by the organisation…

Q: Provide one example of a calculation of risk and discuss its significance.

A: Risk is a chance that the actual gain or outcome from the investment will differ from the expected…