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.

SC is now a listed company and so the board should prioritise the interests of shareholders to the exclusion of other stakeholders.

A football club needs to be part of the community in which it exists and so the board should consider the other stakeholders.

The board should conclude that objectors to the new stadium have a legal course of action open to them and if they do not take legal action they should ignore them.

If the board of directors is seen as acknowledging its responsibility to stakeholders other than shareholders this will enhance the reputation of the club and it will be more likely that a compromise can be reached with objectors.

The board should share information about the new development with the local community only to the extent that it is legally obliged to do so.

Transfer by insuring against this risk.

Reduce by storing some items on the first three shelves and storing other items outside.

Accept by just accepting this is a risk the company has to take and some employees may get injured.

Avoid by sending the employees on a training course on Health and Safety.