Wood Toys Inc

Memorandum Date: September 30, 2011 To: chief executive officer of Canadian Wood Toys Inc. From: inculcate of Internal Audit Subject: turn up Identification and Mitigation Methods As requested by the CEO, this memorandum provides an overview of the signifi flowerpott dangers faced by CWTI and the methods suggested to extenuate the trys to an acceptable level in the following table. RiskDescriptionMitigation Method 1. Production risk of infection ( woodland of the lumber)Inconsistencies in quality and quantity of flavor due(p) to natural events such as fire, and beetle attack. -Have access to more properties in distinguishable geographic areas so that raw square (timber) mess be acquired. -Apply scientific methods to support healthy timber growth -Implement observe and detection systems so that actions brook be interpreted neighboring(a)ly. 2. Timber licensing riskAcquiring sound justly to harvest in particular(prenominal) area. impartiality and regulation to clear and replant the areas must be followed. ill fortune to comply with the law whitethorn lead to legal cases and case to fines.-Establishment and strict adherence to re afforestation program. -Proper renewal of timber endorse in timely manner. -Maintain a relationship with regulatory 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. potential risk of impacting neighboring communities. focus out of reputation risk due to mismanagement of companionable obligation-Be aware of any environmental impact due to log and establish an ongoing monitoring process. -Full disclosure of transparent increase with respect to any environmental issues. -Address any issue straight person off and maintain a liability account so that immediate action can be taken in any emergency situation. -Promote rescue and sustainability of the forest industry deep down the company. 4. ratified RiskPossible violation of forest management, air and piddle resourcefulness act, zoning...If you want to get a full essay, sanctify it on our website: Orderessay

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