Wood Toys Inc

Memorandum Date: September 30, 2011 To: CEO of Canadian wood Toys Inc. From: tutor of Internal Audit Subject: try appellation 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 hobby table. RiskDescriptionMitigation Method 1. Production risk ( select of the lumber)Inconsistencies in quality and quantity of timber payable 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 sensing systems so that actions can be taken neighboring(a)ly. 2. Timber licensing riskAcquiring live right to harvest in particular(prenominal) area. Law and regulation to pull ahead and replant the areas must be followed. Fail ure to comply with the righteousness may lead to legal cases and subject to fines.-Establishment and strict attachment to re setation program. -Proper renewal of timber license in by the bye manner. -Maintain a relationship with regulatory bodies and conservation committees to remain updated with only regulatory changes and address either issues 3. Environmental riskToo much pound can cause Deforestation and damage to the ecosystem. Potential risk of affecting neighboring communities. way out of reputation risk due to mismanagement of social obligation-Be aware of any(prenominal) environmental impact due to logging and establish an ongoing monitoring process. -Full manifestation 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 fore! st management, line of credit and piddle resource act, zoning...If you want to get a in force(p) essay, sanctify it on our website: OrderCustomPaper.com

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