Wood Toys Inc

Memorandum Date: September 30, 2011 To: CEO of Canadian woodland Toys Inc. From: tutor of Internal Audit Subject: try acknowledgment 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 finds to an acceptable level in the pastime table. RiskDescriptionMitigation Method 1. Production risk ( character reference of the lumber)Inconsistencies in quality and quantity of timber cod to natural events such as fire, and beetle attack. -Have access to more properties in distinguishable geographical 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 tidy right to harvest in particular(prenominal) area. Law and regulation to f ambiance and replant the areas must be followed. Failure to comply with the rightfulness may lead to legal cases and subject to fines.-Establishment and strict fastening to rewoodlandation program. -Proper renewal of timber license in by the way manner. -Maintain a relationship with regulatory bodies and conservation committees to remain updated with all(prenominal) regulatory changes and address either issues 3.

Environmental riskToo much log can cause Deforestation and damage to the ecosystem. Potential risk of pushing neighboring communities. way out of reputation risk due to mismanagement of social obligation-Be aware of each envir onmental impact due to logging and establish! an ongoing monitoring process. -Full revealing of transparent development with respect to any environmental issues. -Address any issue straight off and maintain a 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, air and piddle resource act, zoning...If you want to get a sound essay, sanctify it on our website: OrderCustomPaper.com

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