Memorandum Date: September 30, 2011 To: CEO of Canadian woodwind Toys Inc. From: tutor of Internal Audit Subject: try identification and Mitigation Methods As requested by the CEO, this memo provides an overview of the signifi flowerpott dangers set about by CWTI and the methods suggested to mitigate the riskinesss to an acceptable level in the side by side(p) table. RiskDescriptionMitigation Method 1. Production risk ( prime(prenominal) of the lumber)Inconsistencies in quality and quantity of timber ascribable to natural events such as fire, and beetle attack. -Have access to more properties in distinguishable geographical areas so that raw material (timber) can be acquired. -Apply scientific methods to support healthy timber growth -Implement monitoring and detective work systems so that actions can be taken neighboring(a)ly. 2. Timber licensing riskAcquiring grave right to harvest in particular(prenominal) area. Law and regulation to empty and replant the areas must be followed. Failure to comply with the integrity may lead to legal cases and subject to fines.-Establishment and strict union to re afforestation program. -Proper renewal of timber license in timely manner. -Maintain a relationship with regulatory bodies and conservation committees to remain updated with wholly regulatory changes and address either issues 3.
Environmental riskToo much record can cause Deforestation and damage to the ecosystem. Potential risk of refering neighboring communities. way out of reputation risk due to mismanagement of social obligation-Be aware of all environmental impact due to logging and! establish an ongoing monitoring process. -Full manifestation of transparent development with respect to any environmental issues. -Address any issue straight off and maintain a obligation account so that immediate action can be taken in any emergency situation. -Promote preservation and sustainability of the forest industry within the company. 4. ratified RiskPossible violation of forest management, convey and piddle resource act, zoning...If you want to get a adequate essay, sanctify it on our website: OrderCustomPaper.com
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