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What are the cause of accident in composite risk management?
environment, human, material
What does the term 'compliance risk' mean?
'Compliance risk' means the risk of material financial loss, legal liability, or loss of reputation to a business as a result of its failure to comply with the law.
What is the difference between Inherent Risk and Control Risk?
Inherent Risk is embeded in the Model or the structure of the Company, such as Banks and financial institutions have an inherent risk of Robbery as cash is being handled at high volumes.This cant be controlled due to the basic structure of the business. The Auditor can not change this risk due to its embeded nature. Control Risk on the contrary is the Risk due to Internal Control implemented in order to minimize material misstatements. Management designs the internal control system in order to prevent material misstatement occurence. Auditor again cant change this and has to tune the Detection risk based on the level of these 2 risks.
The risk management model includes risk planning risk identification risk handling and risk monitoring.?
risk planning, risk identification, risk handling, risk monitoring
What is the five step process risk management?
The five steps are: Identify the risk Analyse the risk Evaluate or rank the risk Treat the risk Review the risk
What are the cause of accident in composite risk management?
environment, human, material
What are the factors that cause accident in risk management?
Human, environment,material
What are the factors that cause accidents risk management?
Human, environment,material
What does the term 'compliance risk' mean?
'Compliance risk' means the risk of material financial loss, legal liability, or loss of reputation to a business as a result of its failure to comply with the law.
Insurance proposal form?
An insurance proposal form will be sent to a prospective insured by an insurer to ask questions in relation to a risk concerning matters that they consider to be material (a material fact is a fact which would affect an underwriters decision to accept a risk or not).
Cancelling an insurance ab initio?
failure to disclose material facts that changes insurable risk
What is the difference between Inherent Risk and Control Risk?
Inherent Risk is embeded in the Model or the structure of the Company, such as Banks and financial institutions have an inherent risk of Robbery as cash is being handled at high volumes.This cant be controlled due to the basic structure of the business. The Auditor can not change this risk due to its embeded nature. Control Risk on the contrary is the Risk due to Internal Control implemented in order to minimize material misstatements. Management designs the internal control system in order to prevent material misstatement occurence. Auditor again cant change this and has to tune the Detection risk based on the level of these 2 risks.
Most serious problem associated with the inversion of genetic material?
Chromosomal defects in offspring. Because no genetic material is lost with inversion of genetic material, individuals often have no obvious physical effects. The major risk with the inversion of genetic material is that offspring of these individuals may have more severe chromosomal abnormalities.
What are some of the potential dangers of indoor portable heaters?
There are a number of dangers related to indoor portable heaters. These include the risk of fire if the heater is too close to flammable material, the risk to air quality if the heater/room does not have adequate ventilation and the risk of burns from the heater itself.
What are the risks of spinal instrumentation?
Spinal instrumentation carries a significant risk of nerve damage and paralysis. there is a risk of infection or an inflammatory reaction due to the presence of the foreign material in the body. the instrumentation may move or break.
Do genetic or environment factors cause cancer?
Genetic. If your mom had cancer you have a great risk of getting it too. You have, i dunno, genetic material.
What is controlled risk?
The risk that misstatements that could occur in an account balance or class of transactions and that could be material, individually or when aggregated with the misstatements in other balances or classes, will not be prevented or detected on a timely basis by the internal control structure.
