Reference no: EM13342642
The company is concerned about its industry position and is interested in performing a risk assessment to identify the threats to its business and the potential treatments. Since there is no risk manager or audit personnel on staff, you are tasked with this assignment. To achieve this goal, you need to:
1. Identify at least 10 business risks facing ShangTIF and the business objective (at least 2 risks per objective) impacted.
a. Define the business risk and using language applicable to the company
b. Employ judgment to prioritize the risks identified using the qualitative measures of high, medium and low.
c. Provide a brief justification for the ranking using information provided in the case.
d. Indicate the risk response strategy (i.e., Avoid, Reduce, Share or Accept) that management could use to address the identified risks.
2. Suggest control activities that management could implement to address the risks identified.
(Note: control activities are usually risk reduction strategies which may not be necessary for all risk responses)
3. Organize your responses using the format below: Entity's Objective Specific Risk Risk Ranking/ Justification Risk Response Control Activity
Case Study
How would you describe the organisations risk environment?
What advice would you give to management?
What risks would you consider the most urgent?
What changes would you recommend to management, include areas of organisational culture and governance in you report.
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: Identify at least 10 business risks facing ShangTIF and the business objective (at least 2 risks per objective) impacted.
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