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What is the auditors objective for understanding an entitys business risks?
What is the auditor's objective for understanding an entity's business risks?Why does an auditor not have responsibility to identify or assess all business risks？
Sal is thinking about making a positive change in his life. But there are risks involved. Which is the healthiest way that Sal can approach these risks?
Sal should assess the risks, try to reduce them, and make the change.
How did the World Health Organization assess the risks of marijuana?
World Health Organization, in a 1998 study, stated that the risks from cannabis use were unlikely to seriously compare to the public health risks of the legal drugs, alcohol and tobacco.
How can you mitigate risks effectively in your project?
To mitigate risks effectively in your project, you can identify potential risks, assess their impact and likelihood, develop a risk management plan, implement strategies to reduce or eliminate risks, and regularly monitor and review the plan to make adjustments as needed.
The following best describes how you assess hazards in the composite risk management process?
To assess composite risk management, there is an assessment of risk. These risks are followed and minimized to control the probability of unfortunate events.
An EMS provides an opportunity to assess how your unit manages environmental risks and to find better and more cost effective solutions?
true
What action would you take if you felt that a risk assessment did not adequately control the risks?
No risk assessment controls risk. The function of a risk assessment is to assess the risks. The next step is to devise and apply appropriate controls.
Use of statistics in business?
Managers use statistics to assess risks. When a project has a high probability of being unsuccessful, managers will avoid the project.
What are the potential risks associated with a skin flapper during surgery?
Potential risks associated with a skin flapper during surgery include infection, excessive bleeding, nerve damage, scarring, and delayed wound healing. It is important for surgeons to carefully assess and manage these risks to ensure a successful outcome for the patient.
In the five step composite risk management process what should be done immediately after you assess the hazards to determine the risks?
Develop controls and make risk decisions
What step in the composite risk management process is focused on determining the probability and severity of a hazard occurring?
Risk Assessment & Analysis – This is the step where we analyze all those risks identified in the previous step. We will shortlist only those important (high impact/probability) risks and move the lower priority/possibility risks to a watch list.
What are the risks associated with buying liabilities?
The risks associated with buying liabilities include potential financial losses, legal obligations, and negative impacts on creditworthiness. Liabilities can lead to debt accumulation, interest payments, and potential default if not managed properly. It is important to carefully assess and understand the liabilities before making a purchase to mitigate these risks.
