P3 Exam Dumps : Risk Management

Establishing an Internal Audit department.

Purchase invoices are now approved for payment at branches and a list of approved invoices are sent to head office for payment. The invoices, supporting documentation and suppliers' statements are retained at the branches.

Excess funds are now invested, by the Finance Director, in short-term securities. The Finance Director initiates buy and sell transactions and she also receives and retains all correspondence relating to the investments.

A policy has been initiated to complete a physical inventory of all non-current assets at least annually. This is then reconciled with the non-current asset register.

N has just opened a bank account in the currency in which the newly opened branch is now operating.

Carry out inventory checks daily to make sure the correct quantity of materials is being used every day and the correct number of items are being produced

Employ two more managers to watch the staff working and look for them stealing items

Have a senior manager such as the Production Director to supervise the workshop at all times

Install-several CCTV cameras in the workshop

Perform random checks of staff bags as they leave work and ensure the staff all wear overalls provided by the company in the workshop Their own clothes must be left in lockers during working hours