Tort and Regulatory Risks This paper will address preventative‚ detective‚ and corrective measures for a company to manage regulatory risks. We will also review common business torts that occur in many businesses today. According to Jennings: Tort comes from the Latin term tortus‚ which means “crooked‚ dubious‚ twisted.” Torts are civil wrongs‚ actions that are not straight but twisted. This paper will also describe specific measures to manage torts and other regulatory risks that are identified
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There are many preventative measures the counselor could have and should have implemented in Case #8. The information provided clearly demonstrates that the counselor and the counseling center repeatedly failed to take preventive measures i.e. handling of computer files‚ pass codes‚ mail‚ billing invoices and other confidential information. The facts that the director’s last name was used as a passcode‚ the invoice was on a secretary’s desk and the code was taped under a mouse pad‚ clearly demonstrates
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Risk Review BSBRSK501B Task 1 Risk description: An investigation was recently conducted at the at the Toowoomba MacVille café‚ in order to find out numerous things involved with opening a new store such as: * new goals that can be achieved * the stake holders involved * the social‚ economic‚ political and technological features * the strengths and weaknesses * opportunities and risks * research analysis The reason the investigation was conducted was to gauge what was both good and
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Business Fraud and Preventative Measures “There are three things in the world that deserve no mercy‚ hypocrisy‚ fraud‚ and tyranny - Frederick William Robertson.” Business fraud can be commonly defined in terms of the use of a person’s occupation for personal gain or enrichment through the misuse of employing organization’s resources or assets. Currently‚ fraud is a pervasive problem throughout small and large companies. Failure to put in place fraud preventative procedures can
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RISK ANALYSIS AND MANAGEMENT PLAN 1. A) Likelihood: Once risks are identified‚ the next step is to determine the likelihood that the potential vulnerability can be exploited. Several factors need to be considered when determining this likelihood. First‚ the auditor needs to consider the source of the threat‚ the motivation behind the threat‚ and the capability of the source. Next‚ auditors need to determine the nature of the vulnerability and‚ finally‚ the existence and effectiveness of current
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Bottom of Form ASSESSMENT BSBRSK501B MANAGE RISK Assessment tool 1 Assessment activity 1: Review organisational processes‚ procedures and requirements for undertaking risk management 1. Create your own definitions for the following terms: a) Risk: A probability or threat of damage‚ injury‚ liability‚ loss‚ or any other negative occurrence that is caused by external or internal vulnerabilities‚ and that may be avoided through preemptive action. b) Risk management: The identification‚ analysis
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Pic 0027 Risk management Risk management is the identification‚ assessment‚ and prioritization of risks followed by coordinated and economical application of resources to minimize‚ monitor‚ and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities. Risk management’s objective is to assure uncertainty does not deflect the endeavour from the business goals. SCOPE: Every failing project I’ve seen has had an informal scope of "the sun‚ the moon‚ the
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Manage Risks Project Part 1 Plan for enterprise risk management Current risk management policies The scope I have chosen is to look at the organisation as a whole; I have chosen this as it gives me a learning tool of what the risks of the entire company are. * Political environment - this can affect taxes‚ laws and regulations that we have to consider during risk management. This can also affect things such as international trade and supplier selection * Economic climate – The current economic
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Assessment Student name: Student number: BSBRSK501B Manage risk Assessment 1: Project Student signature: Trainer/Assessor signature: Date: Assessment Project Instructions: This Assessment Project is to be completed in addition to the learning and assessment tutorial activities you complete in class during the course. This Project evaluates a number of elements of competency that will assess your knowledge and skills in managing risk (see BSBRSK501B- Assessment Guide for a complete
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(REIV) Code of Conduct and relevant legislation) ● inform clients‚ tenants and potential tenants of MLR’s commitments ● achieve employee and client buy-in for initiative. You are an external consultant (from Ace Consultants) contracted to project manage activities to achieve the objectives above. Quality standards for deliverables: ● clearly communicate legal obligations and REIV obligations ● contain as content or support company strategic directions ● no grammar or spelling errors ● professional
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