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What are the five categories of control activities?
Control activities include the policies and procedures maintained by an organization to address risk-prone areas. An example of a control activity is a policy requiring approval by the board of directors for all purchases
What is the meaning of technology risk?
Technology risk or technological risk is the experience of loss from activities like manufacturing, design, test procedures and technological procedures. This danger can be caused by breakdowns or normal operation.
Why should organisations have comprehensive risk assessment procedures?
Organizations should have comprehensive risk assessment procedures for a few different reasons. One of the main reasons is to assess threats and to know the protocol to react to such threats.
What verbal consent considered adequate for some procedures?
Verbal consent is considered adequate for minor procedures or interventions that are low risk and non-invasive, where the individual is able to clearly understand the nature of the procedure and its potential risks. For more complex or high-risk procedures, written consent may be required to ensure that the individual fully comprehends the details and implications of the intervention. It is important to always prioritize clear communication and ensure that the individual has the opportunity to ask questions before providing consent.
Could being prone to cysts put someone at a higher risk for cancer?
yes
Should people be allowed to live in bushfire prone areas?
yes because its for there living at there own risk. they might have a heritage tradition throughout there family ownings and some people cant afford to move out.
What risk management involves 5 step?
There are several manuals on risk management produced by different organisations. Not all agree on the precise procedures. In addition there are no accepted international standards for all procedures. Some are about risks concerning the product during production others concerning procedures and personell.
Is there a risk of tsunami in Malta?
Malta is located in the Mediterranean Sea, which is not typically prone to tsunamis. The region is not located near tectonic plate boundaries where most tsunamis are generated. Therefore, the risk of a tsunami in Malta is considered very low.
What are similarities and differences between insurance and risk management?
"Risk management" might be considered to be the umbrella topic. Managing risk can be accomplished by risk avoidance, taking measures to reduce or ameliorate risk, or risk transfer. Insurance is the fundamental form of risk transfer because the financial impact of an untoward event (the risk) is transferred to a third party (the insurer) in return for the payment of a premium.
What it the consequence for credit risk?
With the aggravation of credit risk, the company is more prone to market frailty and may incur loss in absence of effective control of finance.
What processes and procedures are used to identify the rate and level of risk?
Processes and procedures used to identify the level of risk and rate include hiring a competent team to look at all the aspects of a job. Based on observations they can determine hazards.
What are potential risk in risk management?
legislation risk and reputation risk are considered to be very potential risks in risk management.
