What Are Some Indications of Ineffective Risk Management That the Auditor

question 20

Essay

What are some indications of ineffective risk management that the auditor may see as signs of potential risks?

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Definitions:

Environmental Supply-Chain Risks

Risks associated with environmental factors that can affect the supply chain, including natural disasters, climate change, and resource depletion.

Process Supply-Chain Risks

Process Supply-Chain Risks involve identifying, assessing, and managing the risks associated with the operational processes in the supply chain, aiming to minimize vulnerabilities and ensure continuity.

Blanket Orders

A type of purchase order issued by a buyer to a supplier, agreeing to purchase a specific amount of goods or services over a set period, often at a predetermined price.

Online Catalogues

Digital platforms or websites that display a collection of products or services offered by a retailer, allowing customers to browse and make purchases remotely.