Briefly explain each of the following risk – control techniques for managing risk.a. Preventative controls. b. Detective controls.c. Contingency controls.   .

Outline any five hierarchy of control measures, giving an example of why this measure would be chosen above other for different risk controls??

Which one of the following is not considered a step in the control process? Identify input and output sources Measure performance Establish standards Take corrective action

What are the differences between risk management procedures and the other four forms of audit tests?

Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

Renaldo's Boutiques, Incorporated, has 14 stores located in a midwestern part of the United States. Renaldo, the president of the company, has set budgets for each store that do not allow for lost, stolen, or misplaced merchandise ( inventory shrinkage). Research shows the disappearance of store merchandise is attributed to a combination of internal and extemal causes. Customer theft-35 percent Employee theft-40 percent Administrative errors-18 percent Vendor dishonesty 7 percent Which philosophy do you believe Renaldo is following?

Design a study to identify what might be the probable ultimate cause/s of the decline in sales. For looking at the different causes, consider the box and arrow diagram given. Note the following things about the box and arrow diagram: If the arrow’s head is towards a box, that means the variable in the box (where the arrow’s head is) affects the variable in the box from where the arrow originated. E.g “Revenue/Sales” is affected by the “Number of shoppers/customers”. The boxes in grey are the variables you as a firm/owner can directly expect to affect which can further affect other variables in the model. E.g. You can incorporate training programs to improve “customer service” perceptions and, ultimately “Sales”. There is a hierarchy of the variables such that we have started from the broadest ones in thetop and then went to the finer one. The motivation for the research group here is to design a study for the store. This study is to find out the customer’s current perception…

b) Discuss, with justification and observation, whether the process is in control or not.

Why statistical control is needed in a company?