The Risk Assessment Policy and Procedures prioritizes risks in order to manage them effectively and efficiently. The procedure substantially decreases the opportunity for material weaknesses to go undetected. It pertains to the identification and assessment of risk. (18 pages, 3860 words)

Activities Covered in the Risk Assessment Policy Procedure

• Form a Risk Management Committee
• Identify Hazards/ Threats
• Identify Threat Impact and Likelihood
• Determine Risk Levels
• Rank Threats
• Risk Assessment Review

References Used in the Risk Assessment Policy Procedure

• 17 CFR 210, "Form and Content of and Requirements for Financial Statements, Securities Act of 1993, Securities Exchange Act of 1934, Public Utility Holding Company Act of 1935, Investment Company Act of 1940, Investment Advisers Act of 1940, and Energy Policy and Conservation Act of 1975"
• 17 CFR 240, "General Rules and Regulations, Securities Exchange Act of 1934".
• 17 CFR 241, "Interpretative Release Relating to the Securities Exchange Act of 1934 and General Rules and Regulations Thereunder" (USA),
• 1996 Amendment to the Capital Accord to Incorporate Market Rises

Forms Included in the Risk Assessment Policy Procedure

• Risk Assessment/Management Worksheet Form
• Sample Chart of Accounts Form
• Internal Control Checklist Form