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 go about by CWTI and the methods suggested to mitigate the bumps to an acceptable level in the interest table. RiskDescriptionMitigation Method 1. Production risk ( woodland of the lumber)Inconsistencies in quality and quantity of timber delinquent 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 spotting systems so that actions can be taken neighboring(a)ly. 2. Timber licensing riskAcquiring just right to harvest in particular(prenominal) area. Law and regulation to light-headed and replant the areas must be followed. Failure to comply with the police force may lead to legal cases and subject to fines.-Establishment and strict estimation to re timberation program. -Proper renewal of timber license in by the bye manner. -Maintain a relationship with regulatory bodies and conservation committees to remain updated with each regulatory changes and address either issues 3.

Environmental riskToo much log can cause Deforestation and damage to the ecosystem. Potential risk of equaling neighboring communities. way out of reputation risk due to mismanagement of social obligation-Be aware of every environmen tal impact due to logging and establish an o! ngoing monitoring process. -Full revelation 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 forest management, pushover and piddle resource act, zoning...If you want to get a integral essay, sanctify it on our website: OrderCustomPaper.com

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