Chapter Name: Fundamentals of potential risks
Description:Identifies operational, financial, legal, and strategic risks.
Purpuse:To proactively recognize and classify business risks.
Rational:Builds awareness and resilience in clients' operations.
Chapters Topics
Concepts of Risks
Understanding what risk is in a business context, including operational, financial, legal, reputational, and strategic risks. Explores uncertainty and potential loss due to internal or external events.
Contributing Risk Factors
Identifies sources of risk such as economic instability, compliance issues, human error, technology failures, and environmental factors. Emphasizes evaluating both internal and external contributors.
The Role of Policies and Procedures
Explains how organizational policies and standard operating procedures (SOPs) serve as frameworks to prevent or mitigate risk. Emphasizes documentation, training, and enforcement.