D is a large oil refinery.The managers have identified four risks shown in the risk map below:Which of the risk mitigations listed below would be the best for dealing with the two risks classified as medium likelihood and high impact?
Answer(s): C
Which of the following are true of an effective risk management culture?
Answer(s): D,E,F
The safety guard on a piece of equipment was broken. The factory manager suspended an operator who refused to operate the equipment until it was repaired. The factory manager paid another operator a bonus for operating the damaged equipment until the safety guard could be repaired.What does this incident say about the control environment within that factory?
Answer(s): A,B,C
K is a large mining company. In its risk report it states that there is a risk of accidents and injury because of the nature of the industry. It states that it has staff training in place and complies with all Health and Safety regulations but in spite of this there will still be a residual risk that accidents and injuries may occur.Which of the following statements are correct?
Answer(s): C,D,E
P Ltd manufactures and sells electrical goods through retail outlets. N is P Ltd's Sales Director. He has been recently promoted from a senior sales position with P Ltd. He has been forced to spend the first six months as Sales Director on dealing with an administrative mess left behind by the previous sales director.You are a Senior Management Accountant at P Ltd. You have worked with N for many years. N has worked hard and has made many changes that have brought significant benefit to the business.N has asked you to postpone the recording of some purchase invoices so that he will meet his quarterly targets on profit margin.What should you do?
Answer(s): D
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