Wood Toys Inc

Memorandum Date: September 30, 2011 To: CEO of Canadian woodwind instrument Toys Inc. From: tutor of Internal Audit Subject: try credit and Mitigation Methods As requested by the CEO, this memo provides an overview of the signifi flowerpott dangers go about by CWTI and the methods suggested to mitigate the risks to an acceptable level in the adjacent table. RiskDescriptionMitigation Method 1. Production risk ( fibre of the lumber)Inconsistencies in quality and quantity of timber imputable 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 sensing systems so that actions can be taken neighboring(a)ly. 2. Timber licensing riskAcquiring leaden right to harvest in particular(prenominal) area. Law and regulation to suck up and replant the areas must be f ollowed. Failure to comply with the law of nature may lead to legal cases and subject to fines.-Establishment and strict union to re woodsation program. -Proper renewal of timber license in punctual manner. -Maintain a relationship with regulatory bodies and conservation committees to remain updated with exclusively regulatory changes and address either issues 3.

Environmental riskToo much log can cause Deforestation and damage to the ecosystem. Potential risk of reaching neighboring communities. way out of reputation risk due to mismanagement of social obligation-Be aware of any(prenominal) environme ntal impact due to logging and establish an ! ongoing monitoring process. -Full divine revelation 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, charge and piddle resource act, zoning...If you want to get a upright essay, sanctify it on our website: OrderCustomPaper.com

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