Wood Toys Inc

Memorandum Date: September 30, 2011 To: chief executive officer of Canadian Wood Toys Inc. From: discipline of Internal Audit Subject: look for Identification and Mitigation Methods As requested by the CEO, this memoranda provides an overview of the signifi flowerpott dangers faced by CWTI and the methods suggested to excuse the take a chances to an acceptable level in the following table. RiskDescriptionMitigation Method 1. Production danger ( eccentric of the lumber)Inconsistencies in quality and quantity of woods collectible to natural events such as fire, and beetle attack. -Have access to more than properties in distinguishable geographic areas so that raw stuff (timber) send a carriage be acquired. -Apply scientific methods to support healthy timber growth -Implement supervise and detection systems so that actions mountain be taken neighboring(a)ly. 2. Timber licensing riskAcquiring sound ripe(p) to harvest in particular(prenominal) area. law and regulation to clear and set the areas must be followed. trial to comply with the law may lead to legal cases and cognitive content to fines.-Establishment and strict adherence to re-af afforestation program. -Proper renewal of timber emancipation in timely manner. -Maintain a relationship with restrictive bodies and conservation committees to remain updated with all regulatory changes and address either issues 3.

environmental riskToo much log can cause Deforestation and damage to the ecosystem. possible risk of impacting neighboring communities. way out of reputation risk due to mismanagement of complaisant obligation-Be aware of any environmental impact due to log and establish an ongoing monitoring process. -Full disclosure of transparent victimization with respect to any environmental issues. -Address any issue forthwith off and maintain a liability 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 preference act, zoning...If you want to get a full essay, sanctify it on our website: Ordercustompaper.com

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