Weaknesses represent risk for organization

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Question

Why the following key weaknesses represent a risk for the organization if they continue:

there is no consistent approach to policies and procedures across the business, and they also appear to lack clarity in some areas

risk management systems and controls are not being integrated effectively into all areas of the business

there has been a routine failure to keep appropriate training records

senior management are not aware of many regulatory compliance issues, related weaknesses, or some "near miss" regulatory breaches - these were not being reported in a sufficiently clear manner.

Reference no: EM133331153

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