...Risk Assessment- After identifying all the possible risks, companies should assess all the risk according to their probabilities in order to prioritize them. According to, a risk assessment must be conducted in a broad circle and apart main suppliers, the evaluation process should include suppliers’ suppliers too . According to the author, several tools or methods might be required in order to obtain visibility of the whole supply chain. One of the most commonly used methods is Risk Map, which allocates the possible supply chain risk according to their occurrence frequency and impact on the supply chain. In the practice and theory, there are several Risk Maps are available such as 3 to 3, 4 to 4, 5 to 5 and, etc. Example to the 5 to 5 Risk...
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...Risk Management Assessment Summary Aurora Health Care Syisha Herman HCS/451 – Health Care Quality Management and Outcomes Analysis Barbara Smith September 26, 2011 Aurora Health Care services all of eastern Wisconsin and Northern Illinois. Aurora measures its progress by establishing and striving to meet specific goals for each and every care management initiative as they focus on the improvement of quality health care. Risk management once meant the management of potential claims arising from malpractice, workers’ compensation, and casualty and property losses – essentially protection against accidents. In the new era of managed care, risk management takes on a move a more global meaning-that of enterprise financial management. Risk management attempts to relate coat management to total healthcare services (McGuire, 1995). Aurora is always looking for new and better ways to improve their services in quality health care. The purpose of risk management in health care is to ensure patient safety and quality, to protect staff, visitors, and any financial losses within the hospital that can come from evaluation, risk detection or prevention. In all, risk management protects the assets of an organization as it works to identify and address all sources of risk and or loss of an organization. Aurora’s purpose for risk management is as followed: 1. Patients getting the care they need 2. Patients and families getting and receiving support to help...
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...Running Head: Risk Management Assessment Summary Risk Management Assessment Summay HCS/451 Jodie Sapaugh August 6th, 2012 University of Phoenix Quality Management When it comes to quality management in health care it has changed and developed more over the years. Quality management is a continuous development that health care organizations use to distribute merchandise and services that will make sure to meet or exceed consumer expectations (McLaughlin, & Kaluzny, 2013). Quality management in health care has evolved over the year to address increased demands from consumers related to the quality care and services, as well as to address problems in patients' outcomes (McLaughlin, & Kaluzny, 2013). When it comes to risk management, it is a vital part in health care. The purpose of risk management is to enhance patients' safety, ensure compliance with the law, avoid legal exposure, and prevent accidents. In health care and long term care (LTC) you are dealing with patients' in life or death situations. Risk management in health care organizations helps physicians and nurses limit the risks that are associated with their jobs. By having risk management in long term care facilities this helps reduce potential risks because it ensures that the medical staff are following all of the safety protocols that are set in place as well as making wise medical decisions. Legend Senior Living is...
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...Risk and Quality Management Assessment Summary University of Phoenix HCS/451 August 19th, 2012 Risk and Quality Management Assessment Summary Aurora is an organization that offers many of different services for families. They are a human service agency that is committed to helping individual’s live fuller and richer lives. Aurora offers services such as counseling, healthcare, residential, Vocational. Aurora takes people that struggle and cannot live on their own. As an Aurora employee; I am glad to say that I am part of their team. I am a float staff there and I am trained at 21 different houses. Aurora staff are there to help make a difference and help people who have disabilities live a better life. Aurora is a very strong organization and they are one of the organizations who are strongly fighting for not having to close down. There is many organizations closing down due to the funding, But as a strong organization Aurora is still standing and fighting for what they believe and that is “Making difference in their life.” Risk management seeks to reduce potential negative impacts on patients, staff and the organization through the identification and reduction of potential dangers or threats (Authenticity Consulting, LLC., 2010). At the same time when they are using risk management they are also using quality management because they are ensuring that they are giving their patients the right quality of care that they deserve. In the Aurora organization they...
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...Risk and Quality Management Assessment Summary HCS/451 Barbara Smith 11/16/15 Alanna Vanderpool The organization selected to review is Milestones Management Group. Milestones is a management company that contracts with various long term care facilities and provides general oversight from a corporate level. Their primary focus and target type of facilities are Assisted Living and Memory Cares. The offer nursing and clinical oversight, operations management, growth and development support, quality and risk management support as well as other valuable services to communities in the Pacific Northwest. Milestones is a locally owned company that generally provides contracted services however they do own a few of the properties that they currently manage. Quality and risk management in health care are extremely important not only for an organizations level of success but also for the general wellbeing of its employees and the patients that it serves. To begin, the definition of quality management is “structured organizational process for involving personnel in planning and executing a continuous flow of improvements to provide quality health care that meets or exceeds expectations” (Sollectto & Johnson, 2013, Chapter 1). Most health care organizations, including Milestones, have quality management teams in place that review and evaluate the level of service that the organization provides to its patients. There are several ways for a quality management team to go about determining...
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...1 February 2009 pp. 63–76 Assessing Information Technology General Control Risk: An Instructional Case Carolyn Strand Norman, Mark D. Payne, and Valaria P. Vendrzyk ABSTRACT: Information Technology General Controls (ITGCs), a fundamental category of internal controls, provide an overall foundation for reliance on any information produced by a system. Since the relation between ITGCs and the information produced by an organization’s various application programs is indirect, understanding how ITGCs interact and affect an auditor’s risk assessment is often challenging for students. This case helps students assess overall ITGC risk within an organization’s information systems. Students identify specific strengths and weaknesses within five ITGC areas, provide a risk assessment for each area, and then evaluate an organization’s overall level of ITGC risk within the context of an integrated audit. Keywords: internal controls; general control; ITGC; risk assessment. INTRODUCTION he Sarbanes-Oxley Act (SOX 2002) and the Public Company Accounting Oversight Board (PCAOB) Auditing Standard No. 5 (PCAOB 2007) require that the organization’s chief executive officer (CEO) and chief financial officer (CFO) include an assessment of the operating effectiveness of their internal control structure over financial reporting when issuing the annual report. External auditors must review management’s internal control assessment as part of an annual integrated audit of an organization’s internal controls...
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...significantly increased over the last decade. Every business, company or entity is subject to fraud risk; there is no immunity when it comes to fraud. There has been much legislation passed by the government and many new guidelines required by different accounting agencies. The Implementation or addition of an internal audit department has been wide spread. External audit independence, corporate governance and most recently the use of a fraud risk assessment have been a few recent developments of such new legislation and rules set forth. Businesses as well as the public were skeptical of the changes but admitted something had to be done. “The fraud triangle, developed by Donald R. Cressey, tells us that there are three interrelated elements that enable someone to commit fraud: the non-sharable financial need that drives a person to want to commit the fraud, the opportunity that enables him to commit the fraud, and the ability to rationalize the fraudulent behavior. The vulnerability that an organization has to those capable of overcoming these three elements is fraud risk,” (Wells, 2011). A fraud risk assessment is a process designed to proactively assess and correct these vulnerabilities to both internal and external fraud to defend against and reduce the chances of fraud. The objective of a fraud risk assessment is to identify and address these vulnerabilities to reduce that risk of fraud. In a 2008 study by the ACFE, “the report to the Nation – 2008, indicates that, on average...
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...1. What is the goal or objective of an IT risk assessment? The goal is to define how the risk to the system will be managed, controlled, and monitored. 2. Why is it difficult to conduct a qualitative risk assessment for an IT infrastructure? A qualitative assessment is based on opinion than actual fact, and IT risk assessments need to be based on a quantitative analysis. 3. What was your rationale in assigning “1” risk impact/risk factor value of “critical” for an identified risk, threat, or vulnerability? The critical needs to be mitigated immediately. 4. When you assemble all of the “1” and “2” and “3” risk impact/risk factor values to the identified risks, threats, and vulnerabilities, how did you prioritize the “1”, “2”, and “3” risk elements? What would you say to executive management in regards to your final recommended prioritization? By assessing how important the risk is to the infrastructure and how quickly the risk needs to be mitigated. The one’s and two’s need to be mitigated as soon as possible and the three’s can be mitigated or left alone at managements decision. 5. Identify a risk mitigation solution for each of the following risk factors: a. User downloads and clicks on an unknown e-mail attachment. Restrict user access and set it up that a user has to get authorization for downloads. b. Workstation OS has a known software vulnerability. Patch or update software. c. Need to prevent eavesdropping on WLAN due to customer privacy data access. Increase WLAN...
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...Lab #4 - Assessment Worksheet Performing a Qualitative Risk Assessment for an IT Infrastructure Course Name and Number: CYBS 221 1001 Student Name: Kendall Watson Instructor Name: Dave Anderson Lab Due Date: September 20, 2015 at 11:59pm Overview In this lab, you defined the purpose of an IT risk assessment, you aligned identified risks, threats, and vulnerabilities to an IT risk assessment that encompasses the seven domains of a typical IT infrastructure, you classified the risks, threats, and vulnerabilities, and you prioritized them. Finally, you wrote an executive summary that addresses the risk assessment findings, risk assessment impact, and recommendations to remediate areas of noncompliance. Lab Assessment Questions & Answers 1. What is an IT risk assessment's goal or objective? Click here to enter text. The goal is to define how the risk to the system will be managed, controlled, and monitored. 2. Why is it difficult to conduct a quantitative risk assessment for an IT infrastructure? A qualitative assessment is based on opinion than actual fact, and IT risk assessments need to be based on a quantitative analysis. 3. What was your rationale in assigning a "1" risk impact/risk factor value of "Critical" to an identified risk, threat, or vulnerability? The critical needs to be mitigated immediately. 4. After you had assigned the "1," "2," and "3" risk impact/risk factor values to the identified risks, threats, and vulnerabilities...
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...ASSESSMENT: BSBWHS401A - Implement and monitor WHS policies, procedures and programs to meet legislative requirements ------------------------------------------------- SECTION 1: PROVIDE INFORMATION TO THE WORK TEAM ABOUT WHS POLICIES AND PROCEDURES. ------------------------------------------------- Information relating to these activities can be found in section 1 part 1 – Learning support materials. Assessment 1 Activity 1: Accurately explain to the work team relevant provisions of WHS Acts, regulations and codes of practice. 1. The impact of a workplace injury is wide reaching. Explain. Yes. According to WHS acts there are four types of hazards, accident and disease (physical and physiological), and low work life quality and stress (socio-psychological). And, for all the listed hazards the impact are wide reaching to the work life of the employee and personal life. The impacts will be for the physical and physiological: high compensation costs, medical claims, lost productivity time and poor productivity affecting mostly the working environment, and for the socio-psychological: inefficiency/ineffectiveness, high work dissatisfaction and low job involvement, affecting personal working environment and personal life, in this cases of hazards the consequences can deal with depression. 2. How is the integrity (validity) of information ensured? The integrity of the information is ensured based on the legislation of health and safety under the PCBU (person conducting...
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...they are implemented. It can therefore facilitates the implementation of security processes by guiding the individual involved in this process. This document addresses the first version of system security plan (SSP) of automated banking system. The purpose of this report is to describe the controls that are in place or are in the plan, the expected behavior and the responsibilities of the individuals who uses or access the system. The document structures the planning process of implementing the security control procedures to provide adequate security and cost-effective security protection for the system. Management, operational and technical controls have been identified and discussed in details. The different family of system security controls are defined and discussed comprehensively how their implementation status and how they are implemented. DOCUMENT CHANGE CONTROL Version | Release Date | Summary of Changes | Addendum Number | Name | Version 1 | 22/4/2015 | | 1 | System security plan 1 | SYSTEM IDENTIFICATION Automated banking system is a company application system that has been categorized as a primary system according to FIPS 199. ABS will reside on a window 7 platform and has been deployment since 4/5/2013 This SSP will be part of the certification and accreditation (C&A) package submitted to and accepted by...
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...the importance lie with fixtures and fittings, technology, comfort, security or life safety? Put simply, I have never come across a £500 leather executive chair and £1,000 Iroko wooden desk that can protect life and property as well as a £30 smoke detector! Is it necessary to completely replace an existing fire detection system if a building changes its use? In the vast majority of cases, no. However, change of use could require modifications to the fire detection system, such as additional detection and alarm devices. This will become apparent after a fire risk assessment. Why is a fire risk assessment necessary? A fire risk assessment plays a fundamental role in making sure that a fire detection system is effective after a change of use. The Regulatory Reform (Fire Safety) Order 2005 (RRFSO 2005) places the onus on a designated ‘responsible person’ within an organisation to carry out regular assessments to...
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...number of views or the number of clicks depending on the type of the contract. The company acquired Corporate Collaborations this entity manages private and public social media networks that earn its revenue providing corporate social network development and hosting services. The audit committee of the company has requested the company to hire a new audit firm with a better experience in auditing of public technology companies. 2. Auditing and reporting issues: Miss Kristine Drew is the senior auditor for this company and is responsible for auditing revenue. She should start by asking for reviews from the predecessor audit firm in order to identify any problems they faced and to incorporate appropriate actions in order to minimize those risks. Ms. Drew should start off by initially accessing the controls of the activity reports. If the controls are strong and the data could not be manipulated, then it can be presumed that the data is accurate if this is not the case, then Ms. Drew should take up the services of a professional to figure out a way and if it is still not possible then she should state the facts on the audit report. The existing customers with hosting contracts of three years are changed to five-year contract, the revenues from this change have to be accounted prospectively. The revenue recognition for the new contracts for hosting that is for five years with three months free service, at the end of the five-year tenure the revenue should be charged over five years...
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...will explore how legislation and the sector skills standards regarding the design and review of services promote independence, which in turn is captured within organisational policies and procedures. Second, learners will investigate factors that can affect participation, independence and choice, including systems for assessing and minimising risk. Finally, learners will investigate the administration of medicine and the effectiveness of policies and procedures for administering medication in achieving the best possible outcomes for users of services. Learners will study legislation and factors that affect the care that is received. Learners will also examine strategies to promote the best possible outcomes for individual users of services. INTENDED LEARNING OUTCOMES On successful completion of this unit a learner will: 1 Understand how the design and review of services promotes and maximises the rights of users of health and social care services 2 Understand how to promote the participation and independence of users of health and social care services 3 Understand the responsibility of managing and monitoring risks in health and social care settings. 4 Understand how good practice in the administration of medicine is essential for users of health and social care...
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...situation would suffer. The Oracle database and email systems are among the most intensively used application servers in the company. Global Finance Inc. cannot afford system outages because its cash flow and financial systems heavily depend on the network stability. This company has experienced denial of service attacks (DOS) twice this year and its Oracle database and email servers has been down at one point for over a week. Concern at hand is the recovery process required Global Finance Inc. to use $25,000 to restore its operations back to normal. Global Finance Inc. estimated the loss from these network attacks at more than $100,000 including lost customer confidence. Hezman Technologies has been tasked to conduct a risk assessment of Global Finance Inc. for the purpose...
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