Risk in Global Business by nqt11888


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									                                                                                                     GA Risk Register
                                                                                                                  Inherent Risk                                                                                                                  Residual Risk

                       Risk                                     Impact                    Category       Impact      L/Hood       Risk               Comments/rationale                                Mitigation Strategy              Impact     L/Hood        Risk    Resp   Due Date
                                               Loss of knowledge, includes key                                                                                                               Recruitment, capability modelling,
   1 Acquire and Retain personnal              personnal, work life/balance not                        Moderate    Likely     S           Core HR risk re personnel structures               training and development, CPE, team                                 #REF!
                                               maintained                                                                                                                                    work development
                                                                                                                                                                                             Clearly communicate what does it
                                               Failure to deliver a better practice                                                       Key compoent of managemetn requests and            mean, how does it work - expectations.
   2 Better Practice                                                                                   Major       Moderate   H           Formula for GA.
                                               stream, incorporate into work                                                                                                                 Dedicated researcher. Embedded in
                                                                                                                                                                                             approach and methodology.
                                             Competency failure as team
       Competencies to deliver the audit and                                                                                                                                                 Programme to promote Certification
   3                                         members believe they have the skills                      Major       Moderate   H           Basic competence risk                                                                                                  #REF!
       assurance plan                                                                                                                                                                        Internal/External. Refer also Item 1.
                                             when they do not.
                                                                                                                                                                                             Training, staff days, social events,
   4 Team Cohesion                             Inefficiency or erroneous reliance                      Moderate    Moderate   S           Basic teamwork risk                                                                                                    #REF!
                                                                                                                                                                                             methodology consistency, peer reviews.

                                                                                                                                                                                             Focus on Informal programme
                                                                                                                                                                                             CRM Programme feedback via
                                                                                                                                                                                             managers meeting
                                                                                                                                          All third party communication, includes - IIA, CIA Focus on being invited to Management
       Influence - Outward Communication - Failure to influence equals failure to                                                         Peer Group, ADR, PwC. At heart is the CRM          Team Meetings
   5                                                                                                   Fundamental Moderate   H           programme, the most important initiative of the
       AFRC/CRM                            deliver to management.                                                                                                                            Selective Business Projects/Initiatives
                                                                                                                                                                                             as a team member
                                                                                                                                                                                             Delivery of the Risk Management
                                                                                                                                                                                             IS Assurance Peer Group
                                               Failure to deliver appropriate                                                                                                                Implementation and training in AA,
                                                                                                                                          Includes AA and its implementation so pervasive
   6 Methodology                               assurance and associated reputation                     Fundamental Moderate   H           to operations
                                                                                                                                                                                             global presence, development of                                     #REF!
                                               damage                                                                                                                                        methodology to GBP.
                                                                                                                                                                                             Improved month end discipline. RAM
                                                                                                                                                                                             responsibility offshore. Formal accruals
                                               Failure to adhere to Budget - and                                                          Poor resource management will impact
   7 Cost Control and RCM                                                                              Minor       Moderate   M           programme delivery
                                                                                                                                                                                             review process. Formal variance                                     #REF!
                                               therefore to deliver the plan
                                                                                                                                                                                             reporting. Tracking and reforecasting
                                                                                                                                                                                             of key cost components.
                                               In appropriate assurance or failure to                                                                                              CRM/monitoring. Participate in change
                                                                                                                                          If we can't change as the business changes we'll
   8 Change of Business                        deliver plan through inability to                       Major       Moderate   H           be out of wrok.
                                                                                                                                                                                   training. Adapt methodology, use co-                                          #REF!
                                               accommodate business changes                                                                                                        source to respond.
                                                                                                                                                                                   Protocol, dedicated personnel, regular
   9 Co-source                                 Significant failurte of service delivery                Major       Unlikely   S           Both a control and a concentration risk. feedback and monitoring, individual                                           #REF!
                                                                                                                                                                                   performance evaluation.
                                                                                                                                                                                   Back-ups of AA. Travel replica
                                                                                                                                                                                   clearance policy. Improved paper
                                               Loss of trust, negative impact on
  10 Security of Information/Confidentiality                                                           Major       Unlikely   S                                                    storage and retention/destruction
                                               business, requirement for rework.
                                                                                                                                          Increased concentration risk with AA on policy. Progression to clean desk and
                                                                                                                                          line and centralisation in FC.           secure storage processes in FC.
                                                                                                                                                                                             Recruitment, training, reinforcement of
  11 Loss of Objectivity                       Loss of trust.                                          Fundamental Rare       H
                                                                                                                                                                                             Values. AFRC relationships. Scoping.
                                                                                                                                          Core tenet of our role.
                                               Inability to move people as required.                                                      Efficiency and optics issue re our                 Monitoring programme vs hot spots,
  12 Personal Security Threat                                                                          Moderate    Moderate   S
                                               Personal injury or loss.                                                                   appraoch to people.                                awareness training, H&S compliance

                           Almost                                                                                                                                                                                     High Risk
                                                                                                                                                                                                                      Significant Risk
           346d5904-1f0e-4746-8c4f-56a47ad28451.xls                                                                                1/2   7/12/2011

                                                                                                                                                                                                                      Moderate Risk
    od of
                        Almost                                                                                                                                    High Risk
                        Certain                                             GA Risk Register
                                                                                            Inherent Risk
                                                                                                                                                                 Significant Risk  Residual Risk

                    Risk                          Impact         Category      Impact         L/Hood        Risk               Comments/rationale   Mitigation Strategy   Impact     L/Hood        Risk   Resp   Due Date
                           Likely                                                  1
                                                                                                                                                                  Moderate Risk
   Likelihood of


                                                                                        4                          8
                                                                                                                                                                  Low Risk
                   Moderate                                  7                12                             2         3              5


                                                                                                                                                                  Risks identified
                    Unlikely                                                                           10    9

                                                                                                                                                                  Inherent to
                                                                                                                                                                  Residual Risk

                                    Insignificant          Minor             Moderate                  Major               Fundamental


                        Almost                                                                                                                                    High Risk
                                                                                                                                                                 Significant Risk
       346d5904-1f0e-4746-8c4f-56a47ad28451.xls                                                              2/2   7/12/2011

                                                                                                                                                                  Moderate Risk
   od of

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