Wood Toys Inc

Memorandum Date: September 30, 2011 To: CEO of Canadian woodland Toys Inc. From: tutor of Internal Audit Subject: try naming and Mitigation Methods As requested by the CEO, this memo provides an overview of the signifi flowerpott dangers confront by CWTI and the methods suggested to mitigate the assays to an acceptable level in the quest table. RiskDescriptionMitigation Method 1. Production risk ( look of the lumber)Inconsistencies in quality and quantity of timber payable 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 staining systems so that actions can be taken neighboring(a)ly. 2. Timber licensing riskAcquiring belong right to harvest in particular(prenominal) area. Law and regulation to sort and replant the areas must be followed. Failu re to comply with the f assembly lineness may lead to legal cases and subject to fines.-Establishment and strict adherence to re qualityation program. -Proper renewal of timber license in well-timed manner. -Maintain a relationship with regulatory bodies and conservation committees to remain updated with tout ensemble regulatory changes and address either issues 3.

Environmental riskToo much lumber can cause Deforestation and damage to the ecosystem. Potential risk of moveing neighboring communities. way out of reputation risk due to mismanagement of social obligation-Be aware of both environmental im pact due to logging and establish an ongoing! monitoring process. -Full revealing of transparent development with respect to any environmental issues. -Address any issue straight off and maintain a indebtedness 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, air and piddle resource act, zoning...If you want to get a skilful essay, sanctify it on our website: OrderCustomPaper.com

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