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ED M FI Minutes Shire of NorthamCSpecial Council MeetingUN12 July 2023Special Council Meeting Minutes 12 July 2023DISCLAIMER In certain circumstances members of the public are not entitled to inspect
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Identify potential risks that may affect the legal entity.
02
Evaluate the likelihood and impact of each identified risk.
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Legal entities, such as businesses, corporations, and organizations, need to fill out their own risk assessments to proactively identify and address potential risks to their operations.
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Legal entity's own risk refers to the risks that a business entity is exposed to, which are not covered by insurance or other risk mitigation strategies.
The legal entity's management or board of directors is typically responsible for assessing and filing the entity's own risk.
Legal entity's own risk can be filled out by conducting a thorough risk assessment, identifying potential risks, and developing strategies to mitigate those risks.
The purpose of legal entity's own risk is to ensure that the business is aware of and prepared for potential risks that could impact its operations and financial stability.
Information such as types of risks, severity of risks, mitigation strategies, and risk management processes must be reported on legal entity's own risk.
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