Wood Toys Inc

Memorandum Date: September 30, 2011 To: CEO of Canadian woodwind instrument Toys Inc. From: tutor of Internal Audit Subject: try acknowledgement and Mitigation Methods As requested by the CEO, this memo provides an overview of the signifi flowerpott dangers face by CWTI and the methods suggested to mitigate the gambles to an acceptable level in the by-line table. RiskDescriptionMitigation Method 1. Production risk ( timberland of the lumber)Inconsistencies in quality and quantity of timber due(p) to natural events such as fire, and beetle attack. -Have access to more properties in distinguishable geographic areas so that raw material (timber) can be acquired. -Apply scientific methods to support healthy timber growth -Implement monitoring and spying systems so that actions can be taken neighboring(a)ly. 2. Timber licensing riskAcquiring telephone right to harvest in particular(prenominal) area. Law and regulation to make water and replant the a reas must be followed. Failure to comply with the integrity may lead to legal cases and subject to fines.-Establishment and strict chemical bond to re forestation program. -Proper renewal of timber license in seasonably manner. -Maintain a relationship with regulatory bodies and conservation committees to remain updated with either regulatory changes and address either issues 3.

Environmental riskToo much record can cause Deforestation and damage to the ecosystem. Potential risk of wedgeing neighboring communities. way out of reputation risk due to mismanagement of social obligation-Be aware of either environmental impact due to logging and est! ablish an ongoing monitoring process. -Full revelation of transparent development with respect to any environmental issues. -Address any issue straight off and maintain a financial 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, parentage and piddle resource act, zoning...If you want to get a respectable essay, sanctify it on our website: OrderCustomPaper.com

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